---
title: "Largest Property Management Companies in the US, and How to Vet One"
description: "Greystar, Asset Living, Willow Bridge and the other largest US property managers by units, from NMHC's 2026 Top 50 Managers list, plus how to vet one."
url: https://kihanmarketing.com/top-property-management-companies-expert-solutions/
published: 2026-06-09
updated: 2026-10-16
author: "Kiran Dasgupta"
---

# Largest Property Management Companies in the US, and How to Vet One

By [Kiran Dasgupta](https://kihanmarketing.com/kiran/), Founder and Lead Strategist

![Man in a suit and glasses explains a chart to two coworkers at a meeting table in an office.](https://kihanmarketing.com/media/blog/pexels-rdne-8293744-scaled-1.webp)

**Greystar is the largest property management company in the US.** On the National Multifamily Housing Council's 2026 Top 50 Managers list, it manages 1,014,091 apartment units. Asset Living is second with 446,427. Willow Bridge Property Company, RPM Living and AMC complete the top five. The list ranks firms by the U.S. apartment units they manage, as reported to NMHC.

This guide has two parts. First, the largest managers by units, taken from that list, with its date and its method. Second, how to vet any manager, large or small, before you hand it a building. The steps cover leasing, repairs, rent and reports. They also cover the online cues that help you build a shortlist fast. We are a marketing agency, not a property manager. No firm on this page paid to be listed, and the order is NMHC's, not ours.

**Key takeaway**

Size is not the same as fit. NMHC's list tells you who manages the most apartment units. It does not tell you who will run your building well. Pick a firm that runs real teams in your market and knows your type of property. Ask for clear reports and local references before you sign.

## Property management in the United States right now: market size, growth, and what it means for owners

The largest managers run a big share of US apartments, but far from all of them. In NMHC's 2026 survey, the top 50 managers ran 23.7 percent of the overall apartment stock. The rest sits with smaller firms, and with owners who run their own buildings. NMHC gives that share in its [answers to common questions about the list](https://www.nmhc.org/research-insight/the-nmhc-50/faqs-about-the-nmhc-50/).

### How fast the largest firms are growing

Three in four of the top 20 grew. Of the 20 largest managers on the 2026 list, 15 reported more units than on the 2025 list, and 5 reported fewer. Greystar went from 946,742 units to 1,014,091, which takes it past one million.

Read those moves with care. NMHC says some firms skip the survey in a given year, which can push others up the list. Its own notes say year-to-year comparisons must be made with great care.

### What it means for owners

A large manager brings set routines, a deep bench of staff and reach across many markets. A small one may know your street better and answer faster. Neither is right for every building.

So match the firm to your asset type, your unit count and your city. For owners, the bar is rising. Choose partners with clear tech, clear reports, and set standards for how renters are treated. That keeps units full and income steady.

![A man in a suit discusses financial documents with two clients at a desk, pointing to a chart or brochure with a pen in hand.](https://kihanmarketing.com/media/blog/pexels-rdne-8293744-1024x683-1.webp)

## How we evaluate property management companies for this list

We did not rank these firms. The order and the unit counts come from NMHC's 2026 Top 50 Managers list, checked on nmhc.org on October 16, 2026. NMHC counts U.S. apartment units in buildings of five or more units, where the firm does the hands-on work, such as leasing and repairs. It counts units, not beds. Student, military, senior and built-to-rent homes are in. Condos and single-family rentals spread across a city are out.

Firms fill in NMHC's survey themselves, and some large firms may choose not to. An asterisk on NMHC's list marks a firm that was not an NMHC member as of January 31, 2026. The full method is on NMHC's [method and terms page](https://www.nmhc.org/research-insight/the-nmhc-50/nmhc-50-methodology/).

The list tells you size. To judge fit, use the same checks for each firm you consider. Weigh size, the range of services, and signs of how well a firm does its job. The mix shows whether a firm runs steady, measured work or leans on one-off fixes.

### Portfolio scale and units across markets

Portfolio size and units across markets stand in for depth. More units often mean set processes, deeper staffing, and support by region.

### Property type coverage

We check which kinds of property a firm runs: apartments, commercial space, affordable housing, and single-family homes. Focus matters. Firms with a clear focus often handle the rules and renters better than firms that try to do it all.

### Third-party vs owner-operated

Third-party managers are hired to run daily work for an outside owner. Owner-run firms manage the units they own. The two models change motives, how open the reports are, and who answers for results. So compare them separately. The [property data a firm tracks](https://kihanmarketing.com/expert-property-management-website-analytics-solutions/) often shows which kind it is.

### Technology, data, and resident experience signals

Data tools, forecasts, remote tools, and inspection tech all matter. We look for automation, renter portals, and data a manager can act on. Those bring faster leasing, quicker repairs, and better control of late rent.

> Look for clean reporting, a [professional website](https://kihanmarketing.com/professional-property-management-website-design-for-growth/), and proof of similar portfolio size before shortlisting any firm.

- Quick checks: a good website, a real local presence, and a track record at your unit count.

## Who are the largest property management companies in the US?

By units managed, the largest are Greystar, Asset Living, Willow Bridge Property Company, RPM Living and AMC, in that order, on NMHC's 2026 Top 50 Managers list. Greystar manages 1,014,091 units, more than twice the 446,427 at Asset Living. The table shows the top 20, with each firm's count on the 2025 list for comparison.

| Rank, 2026 | Company | Units managed, 2026 list | Units managed, 2025 list | HQ city, as NMHC lists it | Also on NMHC's 2026 Top 50 Owners list |
| --- | --- | --- | --- | --- | --- |
| 1 | Greystar | 1,014,091 | 946,742 | Charleston, SC | Yes |
| 2 | Asset Living | 446,427 | 288,665 | Houston, TX | No |
| 3 | Willow Bridge Property Company | 244,457 | 220,676 | Dallas, TX | No |
| 4 | RPM Living | 241,479 | 218,661 | Austin, TX | No |
| 5 | AMC | 156,223 | 152,989 | Cottonwood Heights, UT | No |
| 6 | Avenue5 Residential | 153,968 | 142,841 | Seattle, WA | No |
| 7 | Cushman & Wakefield | 135,892 | 149,938 | Chicago, IL | No |
| 8 | Bozzuto | 133,117 | 121,232 | Greenbelt, MD | No |
| 9 | WinnCompanies | 122,183 | 116,337 | Boston, MA | No |
| 10 | ZRS Management, LLC | 113,953 | 92,927 | Orlando, FL | No |
| 11 | Morgan Properties | 111,132 | 97,384 | Conshohocken, PA | Yes |
| 12 | MAA | 103,083 | 102,348 | Germantown, TN | Yes |
| 13 | BH Management Services | 94,087 | 107,099 | Des Moines, IA | No |
| 14 | AvalonBay Communities, Inc. | 87,196 | 83,753 | Arlington, VA | Yes |
| 15 | Equity Residential | 85,190 | 84,249 | Chicago, IL | Yes |
| 16 | RAM Partners LLC | 85,072 | 81,252 | Atlanta, GA | No |
| 17 | Cortland | 81,979 | 83,021 | Atlanta, GA | Yes |
| 18 | Bell Partners Inc | 81,386 | 88,407 | Greensboro, NC | No |
| 19 | Monarch Investment & Management Group | 78,830 | 75,871 | Franktown, CO | Yes |
| 20 | The Michaels Organization | 76,863 | 79,419 | Camden, NJ | Yes |

Source: National Multifamily Housing Council, [2026 NMHC 50, Top 50 Managers](https://www.nmhc.org/research-insight/the-nmhc-50/top-50-lists/2026-top-managers/), checked on October 16, 2026. The owners column follows the links NMHC shows for each firm. Ranks 21 to 50 are on NMHC's page.

## Large property management companies in the U.S.

Below are notes on six of the large managers people often look up. Each note gives the home city and the facts from NMHC's 2026 list. Use the list to match size to your market, then check fit yourself.

### Greystar

**Based in:** Charleston, South Carolina.

*In short:* First on NMHC's 2026 managers list, with 1,014,091 units, up from 946,742. It also appears on NMHC's 2026 lists of top owners, developers and builders.

### Asset Living

**Based in:** Houston, Texas.

*In short:* Second, with 446,427 units, up from 288,665 on the 2025 list. It appears on NMHC's managers list only.

### Willow Bridge Property Company

**Based in:** Dallas, Texas.

*In short:* Third, with 244,457 units. It is the former residential arm of Lincoln Property Company. It took its new name in October 2023, per [Willow Bridge's own news release](https://www.willowbridgepc.com/about/news/3057-lincoln-property-company-s-residential-division-rebrands-to-willow-bridge-property-company). It also appears on NMHC's 2026 top developers list.

### RPM Living

**Based in:** Austin, Texas.

*In short:* Fourth, with 241,479 units, up from 218,661.

### BH Management Services, LLC

**Based in:** Des Moines, Iowa.

*In short:* Thirteenth, with 94,087 units, down from 107,099 on the 2025 list.

### Cortland

**Based in:** Atlanta, Georgia.

*In short:* Seventeenth, with 81,979 units. It also appears on NMHC's 2026 top owners list.

| Company | 2026 rank | Units managed, 2026 list | Change from the 2025 list | Other NMHC 2026 lists |
| --- | --- | --- | --- | --- |
| Greystar | 1 | 1,014,091 | Up from 946,742 | Owners, developers, builders |
| Asset Living | 2 | 446,427 | Up from 288,665 | None |
| Willow Bridge Property Company | 3 | 244,457 | Up from 220,676 | Developers |
| RPM Living | 4 | 241,479 | Up from 218,661 | None |
| BH Management Services | 13 | 94,087 | Down from 107,099 | None |
| Cortland | 17 | 81,979 | Down from 83,021 | Owners |

> “Scale matters, but fit matters more: match unit count to service needs.”

## How do Willow Bridge, Asset Living, Greystar and Cortland compare?

On NMHC's 2026 list, Greystar manages the most units, 1,014,091, then Asset Living with 446,427 and Willow Bridge with 244,457. Cortland ranks 17th with 81,979 and also appears on NMHC's top owners list. Unit counts show size, not fit, so ask each firm for its units and references in your own metro.

Lincoln Property Company comes up in the same searches. Its residential arm is now Willow Bridge, renamed in 2023, so for apartments once run under the Lincoln name, look at Willow Bridge. Past size, the questions are the same for every firm. How many units does it run in your city? Which of them look like your building? Who would your manager be, and how many buildings would that person run?

## What is the difference between the largest property owners and managers?

A manager runs the daily work of a building, such as leasing and repairs, whether or not it owns it. An owner holds the building. NMHC keeps a separate list for each. Some firms, such as Greystar, Cortland and MAA, are on both 2026 lists. Others, such as Asset Living, appear only as managers.

That matters when you hire. A third-party manager works for you and other outside owners. A firm that also owns buildings may be running its own homes next to yours. Neither is wrong. Ask which kind of firm you are talking to, and how it reports to outside owners.

## What the biggest management firms do well: services and strengths to match to your portfolio

Large managers tend to build routines they can repeat. Those routines can turn listings into leases faster. We map them to what owners want: faster leasing, fewer empty units, repair spend in check, rent paid on time, and cleaner month-end reports.

### Core services

**Leasing pipelines**, lining up make-ready work, vendor oversight, and automatic rent collection are the base. Expect these in the fee, not billed as add-ons, and get that in writing.

### Affordable housing expertise

Affordable housing has its own rules, strict income re-checks (recertifications), and careful reports. Firms with this focus also give renters the support that such housing calls for.

### Performance and reporting

Strong firms use standard budgets, track spending against them, and keep a regular schedule of upkeep that heads off repairs. Insist on dashboards, an owner portal, and statements that arrive on time. You need them for the calls an investor has to make.

### Resident experience and retention

Service standards at scale keep renters and protect NOI. That means fast response times, clear updates, and a plan for renewals.

| Service area | What to expect | Owner benefit |
| --- | --- | --- |
| Leasing | Pipeline automation and digital tours | Faster unit turns, reduced vacancy |
| Maintenance | Vendor networks and preventive schedules | Lower repair costs, consistent conditions |
| Rent collection | Online payments, eviction protocols | Improved cash flow, lower arrears |
| Reporting | Dashboards and monthly statements | Clear information for investment decisions |

> “Match service range and specialization to your portfolio size and asset class for the right fit.”

## Where the top management companies have the strongest presence by state and region

A local footprint often shapes service more than a big name. NMHC lists each firm's home city, and its list page maps the regions each firm works in. A home city is not where a firm's units are. So check that a firm runs real offices and teams in the states where you own.

### Which states the largest firms come from

Texas is home to more of the 50 largest managers than any other state: eight of them. Georgia, California and Colorado have five each. The table lists the firms on NMHC's 2026 managers list based in four states owners often ask about.

| State | Firms on NMHC's 2026 Top 50 Managers list based there (rank) |
| --- | --- |
| Texas | Asset Living, Houston (2); Willow Bridge Property Company, Dallas (3); RPM Living, Austin (4); Hunt/Envolve, El Paso (21); Camden Property Trust, Houston (32); Kairoi Residential, San Antonio (45); Valiant Residential, Dallas (46); Westdale Real Estate Investment & Management, Dallas (50) |
| California | FPA Multifamily, San Francisco (22); Essex Property Trust, San Mateo (27); CONAM Management Corporation, San Diego (28); Fairfield Residential, San Diego (42); SRG Residential, Newport Beach (43) |
| Florida | ZRS Management, Orlando (10); American Landmark, Tampa (49) |
| Washington | Avenue5 Residential, Seattle (6); Weidner Apartment Homes, Kirkland (25) |

**In practice**

Take Texas. Eight firms on the list are based there, but that tells you nothing about Houston versus El Paso. Ask each firm for its local office address and its vendor list, and count the homes it runs in your metro. Then put a big national firm through the same three checks and compare.

### Shortlisting with local relevance and national influence

Check presence, not claims. Look for a local office, enough staff, and homes listed in your metro. Start with the firms that run real teams near you, filter by size and range of services, then confirm units in each market you care about.

> “A regional operator with deep local execution often outperforms a larger firm that lacks boots on the ground.”

## Local market lens: what a company’s online presence tells you before you call

**How easy a firm is to reach, its review count, and its social activity are fair stand-ins for how it really runs.**

Before you call anyone, look at how a firm shows up online.

**In practice**

Does the firm’s website show a working phone number, a real email address, and a contact page that someone staffs? A firm with all three is telling you something about how it runs day to day. A firm without them is telling you something too.

### How to use online signals for vetting

Being easy to reach is a simple filter. A firm that is slow to answer calls is rarely quick on urgent repairs.

Use the number of reviews to judge how a firm is seen. Read the themes in reviews, such as repair speed, communication, and deposit handling, rather than chasing star averages.

### Turning that into a shortlist

Put firms with working phone numbers, real emails, and staffed contact pages at the top of your outreach list. Treat the rest as a lower tier until they prove otherwise.

> **“Use what’s public, a working phone number, a staffed contact page, real reviews, to shortlist reachable, visible, and validated firms before scheduling interviews.”**

## Choosing the right property management company: practical selection criteria for owners and investors

**Smart selection starts by matching the service model to your asset type and goals.** Get clear on cost first. Then confirm what is included and which numbers the firm tracks before you sign.

### Cost expectations: what a management fee should include

Ask upfront what share of monthly rent the fee takes. Get a written list of what it covers: leasing, lining up repairs, getting rent in, and monthly reporting.

### Fit checks: portfolio type, unit count, and service model alignment

Check the firm’s track record with your type of asset: apartments, single-family homes (SFR), commercial, or affordable housing. Confirm its size and its units across markets. Ask for local references and staff ratios.

### Due diligence checklist: reporting cadence, maintenance SLAs, and market expertise

- Reporting cadence: monthly statements and owner dashboards.
- Maintenance SLAs (service level agreements): response and make-ready timelines.
- Vendor controls, compliance skills, and how rent gets collected.

> “Ask for market-specific references and sample reports to verify claims.”

| Item | Expectation | Why it matters |
| --- | --- | --- |
| Included services | Leasing, maintenance, rent collection, reporting | Ensures apples-to-apples bids |
| Units across markets | Provide local references & staff ratios | Confirms local execution capacity |
| The manager on your building | A named person, and how many buildings they run | Shows how much time your building gets |

## Conclusion

**Choosing the right partner starts with data, not just a familiar name.** NMHC's list shows who manages the most apartments. It cannot tell you who fits your building.

Use the list to start a shortlist, then use the checks above to choose. Put fit, local presence, open reports, and how renters are treated ahead of size alone. Then interview the firms you feel sure about.

For more information or to discuss needs, call (425) 954-3452 or email **info@kihanmarketing.com**.

[Property Management MarketingMarketing for management companies: owner leads, renter search and website rebuilds.](https://kihanmarketing.com/property-management-marketing/)

## FAQ

### Who is the biggest property management company in the US?

Greystar, by units managed. On NMHC's 2026 Top 50 Managers list, it manages 1,014,091 apartment units, up from 946,742 on the 2025 list. Asset Living is second with 446,427. The list counts U.S. apartment units in buildings of five or more, as firms report them to NMHC.

### How fast are the largest property managers growing?

Of the 20 largest on NMHC's 2026 list, 15 reported more units than a year before, and 5 reported fewer. Treat the moves with care. NMHC says some firms skip the survey in a given year, so a firm can rise or fall on the list without changing much.

### How do we evaluate management firms for inclusion on this list?

We don't pick them. The order and unit counts come from NMHC's 2026 Top 50 Managers list. What we add is how to judge fit. Look at size and units in your market, and the types of property a firm runs. Ask whether it is third-party or owner-run, and look for signs from tech, data, and how renters are treated.

### Which performance metrics matter most when comparing firms?

Start with units managed, how full they are, and how often renters leave. Add how well rent gets paid, repair response time, how open the reports are, and renter satisfaction scores. Together they show whether a firm runs steadily and can grow.

### What types of services should owners expect from large management firms?

The core: leasing, getting rent in, lining up repairs, financial reports, and budgets. Add compliance for affordable housing and renter services. Many firms also offer asset management, capital planning, and help with marketing.

### How do third-party management companies differ from owner-operated firms?

Third-party firms manage assets for outside owners. They offer systems that scale, reach across regions, and standard reports. Owner-run firms manage what they own. They may put long-term care of the asset ahead of the growth metrics a third-party firm chases.

### Are there firms focused specifically on affordable housing compliance?

Yes. Firms that focus here keep compliance teams for LIHTC and HUD programs. They handle detailed reports, income checks, and renter support. That know-how cuts the risk of breaking the rules and helps keep the subsidy in place.

### How should an owner shortlist firms that actually operate in their market?

Check presence by state and city. Review the units managed locally. Look at local leaders and on-the-ground teams. Confirm you can reach the firm by phone and through its website. Local market experience matters more than a national brand alone.

### What role does technology play in selecting a management partner?

Tech shapes how renters are served, how repairs flow, how rent gets paid, and how clear the finances are. Firms that use management software, data tools, and online portals tend to give faster service and clearer reports.

### How can owners use online signals to vet firms?

Look at the website and how fast the firm answers a contact form. Check its online reviews and ratings, its social media, and the community sites it lists. These signs point to proper marketing, active outreach to renters, and open, steady work.

### What should be included in a due diligence checklist before hiring a firm?

Check the fees and what they cover, plus the reporting cadence and repair SLAs. Check insurance and licensing, staff skills, and the plan for empty units. Ask for references from portfolios or markets like yours.

### What are typical management fee ranges and cost expectations?

Fees vary by property type and service level. Expect a fee set as a share of rent for leasing and daily work, plus extra charges for marketing, turnover, and capital projects. Pin down what is covered, any caps, and any performance bonus before you sign.

### How do the largest firms differ in geographic focus and scale?

On scale, NMHC's 2026 list runs from 1,014,091 units at Greystar, first, to 36,593 at the firm in 50th place. On reach, NMHC's list page maps the regions each firm works in. Match scale to your needs: national reach for programs that span markets, regional firms for local follow-through.

### Can a management firm improve value beyond day-to-day operations?

Yes. Firms with strong asset management, capital planning, and teams that face the market can lift NOI and cut move-outs. They add value with targeted renovations, smart pricing, and vendor control.

### How do we measure resident experience and retention at scale?

Use renter surveys, net promoter scores, average days to lease, renewal rates, and how long repairs take to finish. These day-to-day numbers track closely with keeping renters and steady long-term income.

### What datasets are useful for local market vetting?

Useful datasets include how many firms operate in the market and whether each has a website and contact details. Add unit counts by firm and online review trends. They help you build a shortlist and plan outreach when you weigh firms, vendors, or partners in a market.

### How many property management companies are there in the US?

This guide does not count firms. It looks at the largest managers instead. Those firms run a large share of apartments, but far from all: in NMHC's 2026 survey, the top 50 managers ran 23.7 percent of the overall apartment stock. Smaller managers, or owners who manage their own units, run the rest.

### Which are the top property management companies in Texas?

Eight firms on NMHC's 2026 Top 50 Managers list are based in Texas. The three largest are Asset Living in Houston, with 446,427 units, Willow Bridge Property Company in Dallas, with 244,457, and RPM Living in Austin, with 241,479. A home city does not show how many units a firm runs in your metro, so check its local office.

### Which are the top property management companies in Florida?

Two firms on NMHC's 2026 Top 50 Managers list are based in Florida: ZRS Management in Orlando, tenth with 113,953 units, and American Landmark in Tampa, 49th with 36,611. Check each firm's staffing at each community before you shortlist it. If you also weigh a national firm, ask how many units it runs in your metro and whether it has a local office there.

### Which are the largest property management companies in California?

Five firms on NMHC's 2026 Top 50 Managers list are based in California. The largest is FPA Multifamily in San Francisco, 22nd with 72,853 units. Next come Essex Property Trust in San Mateo, with 62,994, and CONAM Management Corporation in San Diego, with 62,940. Fairfield Residential and SRG Residential complete the five.

**Related reading**

- [Expert Property Management Software Solutions for Growth](https://kihanmarketing.com/expert-property-management-software-solutions-for-growth/)
- [SEO Tips for Property Managers: Proven Strategies for Growth](https://kihanmarketing.com/seo-tips-for-property-managers-proven-strategies-for-growth/)
- [Property Management SEO Services](https://kihanmarketing.com/property-management-marketing/property-management-seo/)

Getting found by owners who search in your city takes steady work. That is what our property management SEO service is built for.