Top 10 Rental Management Companies by Unit Count in 2021: 5 Key Points for Choosing a Manager

For landlords and property owners managing rental properties, choosing an experienced management company is key to stable operations. The rental management unit ranking published annually by the National Rental Housing Newspaper serves as a useful benchmark for evaluating management companies.

This article explains the characteristics of the top 10 companies in the 2021 rental management unit rankings and five key points to consider when selecting a management company.

What Is the Rental Management Unit Ranking and Who Publishes It?

The rental management unit ranking is an annual metric published by the National Rental Housing Newspaper to indicate management company performance. In 2021, the survey covered 1,063 rental management companies nationwide.

The National Rental Housing Newspaper has been a specialized media outlet delivering rental industry information to property owners and practitioners since its founding in 1989. It is available in two formats—a weekly Monday print edition and a digital web edition—with an annual subscription fee of ¥17,000 (tax included).

Which Companies Ranked 1st–10th in the 2021 Rental Management Unit Rankings?

Here are the top 10 companies in the 2021 rankings, along with the characteristics and strengths of each in property management.

1st Place: Daito Kentaku Group (1,174,264 units)

The Daito Kentaku Group sits comfortably at the top, leaving second place and below far behind. Adding over 40,000 units from last year's 1.13 million, real estate business revenue surpassed ¥1 trillion.

The company employs a bulk lease (sublease) model in which it absorbs operational risks such as vacancies, rent arrears, and disputes. It handles everything comprehensively, from tenant recruitment and complaint response to payment confirmation. Bimonthly scheduled inspections to maintain asset value and a 24-hour "Good Room Support Center" are additional strengths.

2nd Place: Sekisui House Group (657,190 units)

Management is centered on its proprietary rental housing brand "Shamaison," growing by over 17,000 units from the previous year.

Services range from rental business planning to operational management and bulk lease of all units. The company also offers a proprietary building warranty program and inheritance tax planning support. Shamaison's occupancy rate stood at 97.7% as of January 2021, with over 80% of new tenants sourced through in-house channels.

3rd Place: Starts Group (612,953 units)

The Starts Group has strong nationwide tenant-drawing power through its "Pitatto House" franchise network, adding over 20,000 units from the previous year.

Management is characterized by a focus on proactive problem prevention, with routine patrols centrally managed online so owners can check status at any time. A rental guarantee system called "Assist Rent" is also available.

4th Place: Daiwa Living (600,428 units)

The rental management arm of the Daiwa House Group, adding approximately 15,000 units from the previous year.

Tenant recruitment, contract handling, and rental management can be entrusted according to owner needs, with bulk lease subletting also available. The company is also investing in enhancing tenant services, including rental housing equipped with AI speakers and furniture and appliance rental options.

5th Place: Leopalace21 (573,673 units)

Holds an extensive management track record centered on studio apartments, with detailed on-site support from 102 management centers nationwide.

Owners can choose from four management models: "Bulk Lease (Vacancy Guarantee)," "Bulk Lease (Occupancy-Linked)," "Management Consignment," and "Self-Management," allowing flexible arrangements tailored to the owner's policy.

6th Place: Token Corporation (255,416 units)

Added over 8,000 units from the previous year. Leveraging decades of experience in rental housing construction and management to support long-term stable operations.

Offers bulk leasing for up to 35 years. Early occupancy is achieved through online and in-store channels via its in-house brokerage business "Home Mate." In-house manufacturing of building components ensures both high quality and low cost.

7th Place: House Mate Group (230,676 units)

A distinguishing feature is the ability to choose from three systems: bulk lease, lessor agency, and rent collection management.

Owners can view building maintenance reports and defect notices via the owner-facing website "Mirai Assist." The company also provides 24/7, 365-day tenant trouble support and complaint handling through its service center.

8th Place: Tokyu Housing Lease (106,879 units)

A significant jump from 11th place last year. A key strength is property management consignment from institutional investors, which drove an increase of 5,600 managed units.

Owner services are also well-developed, including productivity improvements through digital transformation, a flat-rate renovation package, and estate succession support.

9th Place: Asahi Kasei Real Estate Residence (106,096 units)

Characterized by management consignment centered on urban areas, with a focus on developing urban condominiums and senior rental housing under the "Hebel Village" brand.

A core strength is the "AMSA" rental housing management system, which supports long-term stable income. Under the fully managed peace-of-mind plan, rent is guaranteed for 30 years even in the event of vacancies or arrears.

10th Place: Village House Management (105,478 units)

A company that revitalized former employment promotion housing, actively registering properties under the safety net housing program.

Multilingual support including Vietnamese attracts a diverse tenant base. Measures to shorten vacancy periods include no security deposit, key money, brokerage fee, or renewal fee, plus a moving support benefit of up to ¥30,000.

Which Rental Management Companies Below 11th Place Are Worth Noting?

Several notable companies appear in the rankings from 11th place onward. Here are three standouts.

11th Place: Seiwa Corporation (100,620 units)

A company specializing in urban areas of the four major metropolitan regions, growing by nearly 10,000 units from the previous year. Rental management support from three directions via three group companies and over 50 years of land utilization experience are its key strengths.

16th Place: APAMAN (94,046 units)

Rental management is handled by Apaman Property Co., Ltd. Offers management consignment plans and sublease plans aimed at maximizing rental income.

17th Place: Panasonic Homes Group (89,097 units)

Operates the rental housing brand "Your Maison." Enables a new style of rental management leveraging IoT technology unique to a major electronics manufacturer group.

What Are the 5 Key Points for Choosing a Rental Management Company?

Simply choosing the company with the most managed units is not the right approach. Use the following five points as criteria to identify the management company best suited to your property.

1. Vacancy Response Capability

Check the occupancy rate and average vacancy period. In Tokyo, a benchmark occupancy rate is 96% and the average vacancy period is within 40 days. The ability to quickly recruit new tenants when a vacancy occurs is the key to stable income. Note that occupancy rate calculation methods vary by company.

2. Rent Arrears Recovery Capability

The key is to check the arrears rate for two months or more. The national average arrears rate is approximately 1.5%, which serves as a reference benchmark. Since one month of arrears may simply be a payment oversight, evaluate recovery capability using figures for two months or more.

3. Dispute Resolution Capability

Check the number of management staff and whether a year-round call center is available. A management company unable to respond promptly to neighbor disputes or equipment failures increases the risk of tenant turnover. The number of staff per managed unit is also a useful reference.

4. Cost Performance

Management agency fees are generally 5–7% of monthly rental income. In addition to management and brokerage fees, check whether system fees and renewal fees apply. Fees are higher when vacancy or arrears guarantees are included. It is important to assess comprehensively whether the management services justify the cost.

5. Company Financial Health

Since rent collected from tenants is remitted to owners through the management company, financial deterioration of the management company can lead to delayed or unpaid rent. Verify financial soundness by consulting the assigned sales representative and referencing third-party credit reporting agencies.

Choosing a rental management company is a critical decision that determines the success of real estate investment. By selecting a company that matches your property's characteristics and management philosophy—not just rankings—you can achieve stress-free rental management. The comprehensiveness of management systems and responsiveness to rental management regulations are also important checkpoints.

Frequently Asked Questions (FAQ)

Q. Where can I find the rental management unit rankings?

They are published annually by the National Rental Housing Newspaper, a real estate specialty media outlet founded in 1989, available in print and digital editions (annual subscription ¥17,000).

Q. Does a higher unit count mean a better management company?

Unit count is one performance indicator, but it alone is not sufficient for evaluation. It is important to comprehensively assess the five points: vacancy response, arrears recovery, dispute resolution, cost performance, and financial health.

Q. What is the standard management consignment fee?

Management agency fees are generally 5–7% of monthly rental income. Fees increase when vacancy or arrears guarantees are included. Also confirm the difference between fixed and variable compensation structures.

Q. What are the pros and cons of sublease (bulk lease)?

The advantage is stable income regardless of vacancy status. The disadvantage is that a portion of the rent is deducted as the management company's fee, so earnings at full occupancy are lower than with a management consignment arrangement.