My employer just informed me that he is getting into the property management business and my house will be one of the houses he'll be managing. I am uncomfortable with this! Since my lease is technically with another company am I legally bound to stay in the house until the end of my lease? How does this sort of transfer work? Thanks!

You lease is "technically" with the owner who uses a management company to do the day to day management, And unless your lease specificly allows you to leave, then you are bound to the terms of the lease.

How does it work, the owner of the property fires one management company and hires another, and they notify the tennants to start paying the rent to someone else.

Basically you are stuck in your lease, Now if this is your employer, and your good friend, just ask them to let you out of the lease