Peter Lohmann's Newsletter - Issue #79

Introducing the Top 20 Largest PM Companies

Without further ado, allow me to introduce you to the top 20 largest residential property management companies, Q1 2024! Here they are:

1. PURE Property Management – Los Gatos, CA – 25,334 units

2. Evernest – Birmingham, AL – 13,628 units

3. Poplar Homes – Cupertino, CA – 10,153 units

4. Northpoint Asset Management – Salt Lake City, UT – 8,101 units

5. West USA Property Management – Phoenix, AZ – 3,943 units

6. Brandywine Homes USA – Atlanta, GA – 3,800 units

7. Ziprent – Serving 10 states – 2,928 units

8. Borba Property Group – Long Beach, CA – 2,486 units

9. Simmons & Harris, Inc. – Rocky Mount, NC – 2,005 units

10. Realiant Property Management – Lexington, KY – 1,824 units

11. Trademark Residential – Raleigh NC – 1,750 units

12. Housing Hub – Saint Paul, MN – 1,600 units

13. GC Realty & Development LLC – Roselle, IL – 1,500 units

14. Del Val Realty & Property Management – Philadelphia – 1,450 units

15. Real Property Management Express – Sioux Falls, SD – 1,408 units

16. Real Property Management of the Triad – Greensboro, NC – 1,264 units

17. Sweyer Property Management, a RHOME company – Wilmington, NC – 1,251 units

18. Good Life Property Management – San Diego, CA – 1,250 units

19. Rentor.com – Eureka, CA – 1,219 units

20. (tie) Colorado Realty and Property Management, Inc – Denver, CO – 1,200 units

21. (tie) T&H Realty Services, Inc - Indianapolis, IL - 1,200 units

Note: I will be maintaining the list on my blog, click here to see it!

I plan to update this list a few times a year, so if your company qualifies but is not listed, keep an eye out this newsletter for the next time I call for submissions.

Thank you to all who participated! I may do a top-10 by state list next time.

We Hit 5,000 Subscribers!

Sometime last week, this newsletter gained subscriber number 5,000 (already today we’re at 5,151). That feels unbelievable to me, considering I started this from zero less than 3 years ago.

Open rates and click-through rates are extraordinary, averaging 65% and 9-13% respectively. You folks like the content despite the most bland subject lines of all time! I will strive to keep quality up, and fluff down, as we roll on toward issue #100 (around July of this year).

This week’s issue is sponsored by:

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Days-On-Market Reaches All-Time High

I love the data that Showmojo is compiling and sharing recently (Showmojo provides rental showing coordination software — similar to Rently & Tenant Turner).

Check out this juicy info from their most recent market update email:

I can’t figure out how to link to the article version of the email where this graphic came from… but you can see their previous post and subscribe right here.

Industry News and Events

• Here is a PM company for sale in California (1,500 units, asking 4.4M).

• PlanOmatic put together a article with takeaways from the PM Systems Conference. Check it out.

• Invitation Homes announced they will start managing 3rd party portfolios, starting with a 14k unit portfolio. I suppose they should move to #1 on my list above!

• A PM company in Colorado, Four Star Realty, settled with the state and agreed to pay a 1M fine. The state claims they were “illegally charging tenants for routine repairs and other services.”

Closing Thought

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That’s all for this week! Have a great weekend. -Peter

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