Whether you’re a current rental property owner in Memphis or are you wanting to add this market to your portfolio, you might be looking for the best property management companies in Memphis, Tennessee. After all, a trustworthy property manager can help protect your investment and best serve your tenants. Property management is a full-time job that requires 24/7 availability, vendor networks, and close proximity to the property in order to be successful. Many landlords, especially ones who live out-of-state, don’t have this type of availability – and that’s okay! That’s exactly what property managers are for. But choosing the right property manager makes all the difference between a positive and negative renting experience, and it comes down to several factors. Some are objective, like the quality of service, but others come down to personal preference, such as size and specialties. In this post, we’re breaking down some of the best property management companies in Memphis, Tennessee. We include pricing, ratings, services, and more so that you can find the very best PM for you.
Evernest
Evernest was established in 2008 at the beginning of the housing crisis. Our founder, Matthew Whitaker, was left with 30 investment properties that he intended to sell but was unable to do so when the residential housing market crashed. So he began a search to locate a property manager who shared his management philosophies and ideals. Later on in the year, Matthew launched Evernest and we officially opened for business. In the last 15 years, Evernest has grown from a team of 3 to a nationwide company with over 400 team members. Evernest is based in Birmingham and operates in 33 real estate markets across the US. With Evernest you’ll receive in-house maintenance, no fees for cancellation, and a waived lease fee if a resident leaves within the first year. Evernest guarantees a qualified renter for your unit within 21 days, or your first two months of management are free. A 24-hour hotline is available to residents as well.
- CEO/Founder: Matthew Whitaker
- BBB rating: A+
- Google rating: 4.8/5 (512 reviews)
- Years in business: 15
- Number of people: 400+
- Rentals managed: 15,000+
- Number of markets: 33
- Specialties: Single-family residential, condos, small multifamily (up to 49 units), rental property investing
- Property management fee: 8%-10%
- Leasing fee: 50% of one month's rent ($500 minimum)
- Renewal leasing fee: $250
- Other services: Brokerage, in-house maintenance, in-house underwriting, leasing
- Learn more here
Reed & Associates of TN
Reed & Associates of TN was founded in 1989 by Mike Reed and was later acquired by Ben Reed and Phillip Kent in 2016. Their speciality is single-family property management in the Memphis market, however they service markets in Mississippi and Arkansas as well. They offer marketing services that include a designated 24/7 leasing hotline, rental market analysis, and a self-showing lockbox. Once applications are submitted, they perform a credit, eviction history, criminal history, and debt check. For their ongoing property management, they handle maintenance, rent collection, and accounting.
- CEO/Founder: Ben Reed
- BBB rating: A+ (not accredited)
- Google rating: 4.6/5 (179)
- Years in business: 30+
- Rentals managed: 600+
- Number of markets: 20+
- Specialties: Single-family
- Property management fee: Percentage-based
- Leasing fee: Percentage-based
- Renewal leasing fee: Flat fee
- Maintenance fee: Percentage-based
- Property setup fee: Included
- Professional certifications: NARPM
- Learn more here
Mynd Property Management
Mynd is a tech-enabled property management company that serves 25+ markets across 12 states. Their platform was built to enable the selling, buying, leasing, and managing of properties across the country 100% remotely. They hire a wide range of talented individuals within and outside of the real estate industry. Mynd specializes in single-family homes. With Mynd’s technology, rent collections are primarily online. Landlords and residents have access to an online portal and 24/7 emergency support.
- CEO/Founder: Doug Brien
- BBB rating: A-
- Google rating: 4.6/5 (342)
- Years in business: 7+
- Number of people: 500+
- Rentals managed: 18,000+
- Number of markets: 25+
- Specialties: Single-family
- Property management fee: Fee-based
- Leasing fee: Percentage-based
- Renewal leasing fee: Flat fee
- Maintenance fee: Cost of services
- Other services: Brokerage, buy/sell, financing, asset management
- Learn more here
CB Properties
CB Properties was founded in 2010 by Alex and Benolyn Craig due to the poor experiences they had with management companies handling their portfolio. They offer a detailed plan for investors that begins the moment papers are signed. The leasing process starts with a “rent-ready” process, before showing the property and screening applicants via a background check. Included in their management services is maintenance coordination and oversight, rent collection, eviction paperwork filing, and at least two annual inspections. For each eviction, they create a report and send it to the owner for review.
- CEO/Founder: Alex and Benolyn Craig
- BBB rating: A+
- Google rating: 4.4/5 (483 reviews)
- Years in business: 13+
- Number of people: 16+
- Rentals managed: 850+
- Specialties: Single-family
- Property management fee: Percentage-based
- Leasing fee: Percentage-based
- Maintenance fee: Percentage-based
- Other services: Brokerage, buy/sell
- Learn more here
RiverTown Realty
RiverTown Realty offers services in both Memphis, Tennessee, and Northern Mississippi. Their leasing services handle rent assessment, marketing, tenant screenings, and pet screening. They also provide property evaluations. Included in their management services is an owner and tenant portal, eviction process handling, on-call 24/7 for emergencies, rent collection, maintenance, and inspections. They also have a tenant maintenance system where tenants can place requests, schedule appointments, and communicate with vendors. RiverTown management has eviction, pet, satisfaction, leasing, and tenant damage guarantees for owners.
- CEO/Founder: Patrick Burlson
- BBB rating: A+
- Google rating: 4.6/5 (56 reviews)
- Years in business: 5+
- Number of markets: 2+
- Specialties: Single-family
- Property management fee: Percentage-based
- Leasing fee: Percentage-based (with minimum)
- Professional certifications: NARPM
- Other services: Leasing
- Learn more here
Final Thoughts: Best Property Management Companies in Memphis, Tennessee
Whether you’re a current or future Memphis rental property owner, you may want to be on the lookout for the right property manager. Depending on your needs and goals, a hands-on, single-market property manager might be the best fit. Or a more digital and high-level company might meet your requirements instead. Either way, it’s best to take your time and evaluate your own situation and future plans before making a decision. If you’d like to learn more about our Memphis property management, we’d love to talk with you. You can contact us, or check out more reviews, plans, and free resources on our dedicated Memphis page here.
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Methodology for Selecting the Best Property Management Companies in Memphis Tennesse
To curate our list of top property management companies in Memphis, we followed a strategic set of standards, ensuring only high-quality companies are highlighted. This process aids property owners in identifying a company that aligns with their needs. Our main criteria included:
Local Expertise and Property Type Coverage: We examined each company’s experience managing various property types, including single-family homes, condominiums, apartments, and commercial properties. Priority was given to companies with deep-rooted experience in Memphis, especially those well-versed with property types prevalent in the area.
Client Feedback and Satisfaction: The level of satisfaction among clients, past and present, played a crucial role in our evaluation. We analyzed customer feedback from platforms like Google and Yelp, favoring companies with ratings of 4.0 stars or above. Emphasis was placed on positive reviews highlighting communication, promptness, and service quality.
Transparent Fees and Pricing: Companies with upfront, transparent pricing and no hidden charges were prioritized. This included clear information on management fees, leasing fees, and additional costs like maintenance or renewal fees.
Certifications and Professional Standards: Certifications from reputable industry associations, such as the National Association of Residential Property Managers (NARPM®), and designations like Master Property Manager (MPM®) were indicators of professionalism and high industry standards. Companies holding these credentials received higher rankings.
Final Selection Process
After defining our main criteria for the Memphis market, our team implemented a thorough review process to ensure each company met our selection standards. This process involved:
In-depth Company Review: Each company’s performance was carefully evaluated based on available data, customer reviews, and their overall reputation. Companies with consistently positive reviews, minimal complaints, and strong results were ranked favorably.
Direct Verification: Beyond online research, we reached out to property management companies to confirm key details, such as their services, fee structures, and customer support capabilities. This additional step ensured that all information was accurate and up to date.
Side-by-Side Comparison: After gathering comprehensive information, we compared the selected companies to assess their strengths, weaknesses, and unique offerings. Companies providing comprehensive services, competitive pricing, and flexible contracts were prioritized in our rankings.
