What Is a Property Management Company Worth?

What Is a Property Management Company?

A property management company collects rent, fills vacancies, handles maintenance, and manages tenants on behalf of property owners — earning a recurring monthly fee that typically runs 8% to 12% of rent collected, plus leasing fees and ancillary income. In 2026, an established small-to-midsize residential property management company is generally worth 3.5x to 6.5x Seller's Discretionary Earnings for owner-operator deals, and 5x to 9x EBITDA once the business is large enough to attract private equity. The exact multiple depends on door count, gross collected rent, owner concentration, contract length, and how dependent the business is on the founder. To estimate your specific number, run the math through the YourExitValue valuation calculator.

Why Property Management Companies Sell at Premium Multiples

Property managers attract better multiples than most service businesses because the revenue is sticky. Owners rarely switch managers unless something breaks — which means a well-run book of 300 doors throws off predictable monthly cash flow with low churn. That recurring structure is exactly what financial buyers pay up for. (See how recurring revenue affects business value for why this matters at sale.)

The other reason multiples are climbing: property management is one of the hottest rollup categories of the decade. Private equity firms have been buying regional managers, bolting them together, and chasing scale efficiencies on tech stacks and back-office. If you have more than ~500 units, you are squarely on the radar of strategic and PE buyers running a rollup play.

How to Use Your Number

Take your trailing 12 months of revenue, subtract operating expenses, add back the owner's salary plus personal expenses run through the business, and you have your SDE — the basis for valuation in deals under roughly $3M. (Walk through the math in how to calculate add-backs for a business sale.) Now stack-rank yourself against the multiple drivers: door count above 300, less than 25% revenue concentration in any single owner, average management agreement length over two years, and a property manager other than you running day-to-day. Each clean check moves you toward the top of the range.

Companies under 150 doors with a working owner usually trade in the 3.0x–4.0x SDE range. Companies with 300–600 doors, a property supervisor in place, and clean books trade 4.5x–6.0x. Above 800 doors with $1M+ EBITDA, you cross into PE territory at 6x–9x EBITDA. If you want to see the full methodology applied to your numbers, the property management industry page walks through each driver with current 2026 benchmark data.

The Bottom Line

If you run a residential property management book with stable owner relationships and at least 250 doors under management, you are likely sitting on a business worth 4x to 6x SDE — often more than founders expect. The single biggest lever between a 4x and a 6x is whether the business runs without you. Build the org chart now, document your processes, and you can add 30%+ to your sale price with 18 months of preparation. Read more in how to value a property management company in 2026.