Peter Lohmann's Newsletter - Tuesday Edition #30

Author

Peter Lohmann
August 18, 2026

A no-fluff, twice-weekly briefing for the property management industry.

The 40 Largest PM Companies in the United States 2026 - Presented by Boom

For several years now, I’ve collected and published data on the 20 Largest Residential PM Companies. This data was self-reported, reviewed by yours truly, and published on my website. This year, thanks to 390+ of you who submitted your numbers, it's grown to the Top 40 Largest PM Companies!

And for the first time, we've got enough data to break it down by state!

If you run a PM company and have ever wondered what "big" actually looks like (how the top operators structure their teams, what software they run, how they're built), this is the closest thing our industry has to an answer.

The Top 10 Largest Overall

Click through for all data and the full Top 40 list. Here are the top 10:

Notable omissions from the 2026 list include Pure HomeRiver, which we know was 40k doors in January; and Northpoint, which was 6.4k last year but lost a large account recently. Leadership from both companies declined to submit for 2026.

Top 10 by State

For the first time, I had enough submissions to rank a Top 10 in almost every state. If you click the image below, you’ll find this cool map. Click on your state for a quick overview, then click again for the full state list with all data.

What They Run, and How They're Organized

AppFolio alone accounts for more of the list than every other platform combined, but Rentvine’s performance here surprised me the most. Their growth is impressive. Next year we’ll have much better trended data for this.

Todd O will be happy to learn that nearly half of all submissions run a departmental org structure:

But if you go a layer deeper, the median size of companies by software and organization is fascinating:

Even though more companies operate departmentally, a pod-department hybrid organization seems to support PM companies better at scale.

Who Grew the Most?

Here's the year-over-year change for the top three fastest-growing PM companies from 2025 to 2026 (click through for the full top 10 list):

Methodology

  • Based on 390+ companies that submitted for the 2026 ranking.

  • Figures are self-reported.

  • Only third-party-managed doors are counted.

  • Covers SFR and small multifamily only, under 100 units.
    No HOAs, no big multifamily.

NOTE: I'm sure a few numbers are rounded generously, and I have no way to independently verify every single submission. But self-reporting is the only way to see this corner of the industry at all. Nobody else is tracking scattered-site SFR portfolios closely enough to rank them, and the alternative to asking operators directly is to have no list at all.

—

Submissions for 2026 are closed, but I'll continue to update this list every year. If you missed the deadline, keep an eye on this newsletter for callouts to make next year’s list. And thanks again to Boom for sponsoring this year’s list.

-Peter

P.S. Do you like my new website?

THIS ISSUE PRESENTED BY LDGR SYSTEMS

You've heard about how LDGR helps Property Managers automate accounting with AI. Today, we'll cover what it's actually like to work with their team.

Recently, a Property Manager with 12,000 units asked LDGR to automate their end-to-end Accounts Payable process. The firm's CFO was tired of duplicate entries, late fees, and painful back-and-forth with vendors.

The LDGR team spent a few days observing how things were done and identifying the key data sources. Then, in under two weeks, the LDGR team built AI tools to replicate existing workflows. Now, every single one of the Property Manager's invoices is processed and coded within 5 seconds of receipt.

The result? No more late fees, no more duplicates, and hundreds of hours of manual work saved each week -- all for 50-75% less than the cost of an FTE or outsourced solution.

If you've got a labor-intensive process holding you back, talk to LDGR Systems and kick off a free trial:

I’m Currently Reading

POLL RESULTS: Do you read the NARPM Magazine "Residential Resource" ?

Click for a full archive of past issues.

Webinar Replay: How to Hire Your First Executive Assistant

Most PM owners talk themselves out of hiring a personal assistant because they think they don't have enough work to keep one busy. Wolf and I get into why that's the wrong way to look at it. An EA's whole job is to buy back your time as the owner, not to add another position to justify on a P&L.

We also get into what's safe to hand a new hire early on, what a highly qualified EA actually costs, whether AI can take over the inbox instead of a human, and the one thing Wolf and I completely disagree on when it comes to training someone up. Check it out.

Meme Tuesday:

Did you miss it? 3 highlights from Friday’s Newsletter:

  1. AppFolio’s $75M Investment into Second Nature.

  2. New HUD rules threaten to weaken fair-housing enforcement (not good).

  3. Crane Podcast with Mark Brower - all about churn.

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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.