Top Rated Property Management Companies - European companies dominate with Awaze, OYO Vacation Homes, Interhome, Sykes Holiday Cottages, Direct Booker, Feriepartner, Sol og Strand and Holidaycottages.co.uk leading the top ten, along with two North American companies: Vacasa and Evolve . And the first ten mostly represent recreational rentals [villas, chalets, cottages].
With 110,000 "really cool" properties, UK-based Awaze, formerly Wyndham's vacation rental business in 36 countries, is the world's largest property management company.
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Interhome manages 50,000 vacation rentals in 31 countries – founded in 1965 in Switzerland and has 15 regional subsidiaries. OYO Vacation Homes manages 54,000 properties in Europe.
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Shirish Damani, Chief Revenue Officer at OYO Vacation Homes, said: “We are honored to be included in Rentals United's global top 50. Even in a year where the pandemic has dramatically affected life, we have seen our holiday homes become more popular than ever, for holidays but also as a home office or personal 'bubble' away from home.
"This confirms that our full-service strategy and our continued efforts to use technology to deliver differentiated experiences are fit for the future," Damani added.
The only North American company in the top five is Portland-based Vacasa with 25,000 short-term rentals, making it the largest property manager in North America.
Rounding out the top five is UK-based Sykes Holiday Cottages, which has 20,100 properties across the UK, Ireland and New Zealand with 20,000 exclusive holiday homes. The company won the British Travel Award for
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Managing Director of Sykes Holiday Cottages, Graham Donoghue, said: “We have been serving the market and watching it grow for almost 30 years – although this year has certainly been different.
“Working closely with our owners has helped us all adjust to the new normal of 2020, managing rebookings and refunds and guiding owners through what has turned out to be one of the busiest summers for accommodation.
"Having a name on the United Rentals list is a testament to the hard work of our entire team this year," he added.
The list also revealed that 60 percent of the largest property managers are located in Europe, with only one property manager in South Africa [Propr] and the rest in North America. The total number of rentals represented by these 50 property managers is over 380,000, which is a fraction of the number of rentals in the world.
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The oldest company on the list dates back to 1959, a company called Elliott Realty based in North Myrtle Beach, South Carolina, USA. The newest company on the list, ALTIDO, was founded in 2019 through a merger between four pan-European property management companies.
In terms of growth and funding, more than half of the companies are self-funded, and more than 60 percent have grown organically, with the remainder a mix of organic growth and acquisitions. Four of the top ten on the list are backed by equity.
Is an annual ranking of rental numbers of the world's largest short-term rental property managers, compiled and published in October each year by Rentals United.
List members receive a "Top 50" badge for their site and gain "excellent visibility" among property managers worldwide.
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Short Term Rental is part of International Hospitality Media. Upon your registration, we may periodically send you other relevant content from our brand/partner team. Many rental property owners quickly find that managing their building is more than they can handle. This is especially true if they have a full-time job, own multiple properties, or live far away. They need to find a good property management company to take care of the day-to-day operations.
Landlords must decide what kind of management assistance they need, depending on the number of units. Except for single-family homes or duplexes that may only need a handyman for occasional repairs, most larger apartment buildings require a management company to take care of everything. The same applies to some detached houses. To find someone for the job, the owner needs to find someone with knowledge and experience. But how can you tell? Keep in mind that the best property management company should have these 11 things.
A property manager must be able to communicate and get along with all kinds of people. Tenants need someone they feel comfortable dealing with, who respects them and listens to their issues and takes them seriously. If tenants have a good relationship with the manager, they are more likely to stay.
Find a good and professional property manager. They must be friendly and helpful, but they must also be willing to settle disputes and enforce rules and regulations. And they must know and comply with the federal Fair Housing Act.
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Unfortunately, the job of property manager is not always pleasant. Sometimes they have to deal with tenants who don't do well, don't pay rent, break the rules or are involved in criminal activities. An effective property management company will have experience handling these difficult situations and will not be afraid to step in when necessary.
Depending on the problem, they may need to defuse a conflict between neighbors, initiate eviction proceedings, or involve law enforcement. Importantly, they do not shy away from the difficult choices that sometimes have to be made to protect other tenants, property and the landlord's financial interests.
Some owners may choose to leave all decisions and day-to-day operations to the property manager, while others may want to be more involved. Even if landlords don't want to do anything but sit back and collect rent, the best property management companies are good at letting them know when needed.
Landlords may not need to know every little thing that happens on the property, but some things are important and should be reported. For example, the landlord should know if the tenant slips on an icy sidewalk (there may be a lawsuit) or if there is a water leak that needs to be fixed repeatedly (this may indicate an impending expense to fix it once and for all). or if the problem tenant has damaged an apartment (repairs and possible eviction may be in order).
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A property management company can handle the financial side of renting, including rent collection, banking and handling security deposits. As part of this accounting work, they should also provide detailed financial reports to property owners.
Owning a rental property is a business and an investment, so tracking income and expenses is important. A big selling point for deciding to use a property management company is having someone else handle that paperwork that will be important come tax time. (By the way, read this article to find out if the property management fee itself is tax deductible.) Find someone whose bookkeeping is thorough and accurate and provide the information you need to make informed financial decisions.
Because they are responsible for the repair and maintenance of rental units, property management companies hire part-time or full-time staff or subcontractors (or a combination) to do the work. Not only is it up to them to find people who can do a good job, but they also have to prove they can be trusted. After all, these people will enter the tenant's house.
The best property management companies will screen employees and conduct background checks. They will inspect them to make sure they are using licensed, bonded and insured professionals with the necessary skills to do the job safely and correctly.
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The best property management companies have a handle on the state of the rental market in the area. They know apartment prices and what attracts the best tenants.
Look for a property manager with a good track record to find tenants who are more likely to renew their leases year after year. Information about things like improvements that might attract new tenants or why tenants are moving and when it is appropriate to raise the rent are invaluable assets to a property management company.
Dealing with current problems is important, but looking ahead is also important. The best property management companies are always looking for ways to improve and improve properties. This could mean something as small as noticing that the all-weather mat on the front door is worn, or something major like suggesting that it's time to replace the roof.
Look for a property manager who doesn't just wait for things to break, but thinks proactively to anticipate what is needed in the short and long term. Looking ahead can save money, as big-ticket items can be used on a budget. For example, treating a leaky pipe as soon as it starts leaking is cheaper (and easier) than waiting until it breaks and floods the basement!
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Working with a property management company should be collaborative. Both the company and the owner should discuss and agree on what needs to be done. But the best property management companies set their own performance goals. For example, if the owner does not specify a time frame for dealing with all repair requests, the company does not simply assume that they can
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