Peter Lohmann's Newsletter - Issue #141

The List of Largest Property Management Companies

Just over a year ago, I put out the call in this newsletter for readers to help build a list of the largest 3rd-party residential property management companies (to this day, I believe it is the only such list in existence).

I compiled the results at that time into a list of the largest 20.

Here were the top 10:

It’s time to update this list!

If you own a PM company with over 1k doors, submit yours here.

Note: If you previously submitted your company, you need to re-submit to ensure accurate unit count. If you do not re-submit, your company will be removed for 2025.

One final comment. This list is made up of self-reported data. If you want your company on the list, you must submit it!

Two Ways I Actually Used AI This Week

1. Connected my Lovable churn app to Airtable (where our client churn data is stored) using the Airtable API. This worked really well and I can’t wait to keep working on this app. The goal is to be able to do real churn cohort analysis on our property management owner clients. We recently got access to our Buildium API, so I’m anxious to hook that up too and make an awesome dashboard.

2. Created “Projects” inside ChatGPT. Jon Matzner explained it to me yesterday and not sure how I missed this before. Great way to organize your chat threads, and you can upload files too so that ChatGPT can reference them anytime you start a new thread in that project.

   

New Property Management Companies For Sale This Week

Sponsored by: The 2025 Property Management M&A Report. How much is a property management company worth? Real data, real transactions.

• Here is a property management company for sale in Santa Clara County, CA (asking $2.2M)

• Here is a STR management company for sale in Granby, CO (asking $450k; 25 properties)

• Here is a property management company for sale in Los Angeles County, CA (asking $420k)

• Here is a property management company for sale in San Diego, CA (asking $2.5M)

• Here is a property management company for sale in Nashville, TN (asking $35k)

• Here is a property management company for sale in Oregon (asking $750k, 360 doors — price seems suspiciously low)

Industry News & Events

• The new White House budget proposes to cut rental aid by 40% and impose a 2-year cap on rental assistance for “able-bodied adults.” This would drastically impact section-8 / HCV programs.

• Interesting article about property management written from the perspective of an old-school realtor: “The rise of property management-only agencies”, is the title. Do you think it will catch on?

• Rentec Direct released a report showing that the national average rent paid has increased by 31% in the last 5 years. I like this report because it’s based on actual rent paid, rather than just the “asking rent” of listed units—which is heavily skewed by many factors and gives a false impression of rent unaffordability.

• Evernest announced the integration of multifamily-focused 33 Realty (Chicago) and Zendoor (Scottsdale) into their platform. Both came along as part of the Poplar purchase.

Closing Thought

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P.S. Did someone forward you this email?

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Most Popular Link (401 clicks): The 2025 Property Management M&A Report

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The content of this newsletter is for informational purposes only and does not constitute professional advice. I may have consulting agreements with, or financial interests in, companies mentioned in this newsletter. Additionally, some of the links included in this newsletter are affiliate links, meaning I may earn a commission if you make a purchase through these links. Always perform your own due diligence before making any financial or business decisions.