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, including Memphis, Tennessee.
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
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
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
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
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
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. Click here to contact us and learn more about our Memphis property management services.
Source: This article was originally written for Everenst and published at Evernest.co.
