Top 50 Multifamily Property Management Firms of 2023
Find out which companies made MHN’s annual ranking of industry leaders.
Key: A= Affordable Housing, MR= Market Rate, L= Luxury, St= Student Housing, Se= Senior Housing, X= Other
Though we make every effort to include all major property management companies, several notable firms (among them BH Cos., MAA and Alliance Residential) did not participate this year.
To be included in upcoming surveys, email Agota Felhazi at [email protected].
Property managers are working harder than ever. Inflation and rising interest rates are creating budgetary challenges for operators. Technology, sustainability and evolving renter preferences have intensified the need to recreate the ideal resident experience.
This year’s Top Multifamily Property Management Firms list includes 50 companies with a combined 3.2 million units under management in 2022. The portfolios of our leading firms increased by 7.8 percent compared to their total footprints in 2021.
Overall, our respondents had an average occupancy rate of 94.8 percent, a slight decrease of 43 basis points from 2021. Of the 50 firms on our list, four displayed occupancy rates of 98 percent or above: Burton Carol Management LLC (99 percent), Habitat America LLC (98 percent), The Breeden Co. (98 percent) and WC Smith (98 percent).
As in previous years, Greystar topped our list with more than 740,000 units under management, up 5.7 percent. As a new entry, Asset Living nabbed the second position with approximately 203,000 units under management, and Lincoln Property Co. came in third place with nearly 214,000 units. Asset Living is also among the fastest-growing companies on our list, with a footprint that jumped 27.2 percent between 2022 and 2021, and an even more impressive 54.6 percent between 2020 and 2021.
The Top 50 Multifamily Property Management Firms of 2023 ranking utilized self-reported data for all firms. Positions were calculated using a weighted formula based on a variety of factors, including the total units under management, property operations (both owned and managed), and presence across property sectors. The ranking represents what we feel is a logical balance among firm growth, market share and property diversification. Ranking factors are not limited to the data that appear on this page.
—Agota Felhazi, Associate Editor