Top 10 Property Management Franchise Business Opportunities in USA for 2023
An average American changes the place of living 11 times in their life. Each time they move to another place, they need to sell, buy or rent a house or an apartment. The tendency means a high demand for real estate including property management franchise businesses. The companies provide a wide scope of work such as house maintenance, advertising, looking for potential tenants and landlords. Moreover, property management franchise opportunities can be even wider if an entrepreneur running the business will also provide related services. Some businesses operating in this field also deal with building and selling property in order to have more revenue streams. If you`d like to buy a real property management franchise in the USA, take a glance at our top 10 brands. They offer interesting, flexible, lucrative and easy to implement concepts. The franchisors constantly and consistently teach and support their partners at all stages of running the business.
Here is the top 10 best Property Management franchise business in USA
Real Property Management
Founded in: 1986
Franchising since: 2004
Franchise units: 337
Initial investment: $101,224 - $154,974
Franchise Fee: $55,000
Royalty Fees: 7%
Real Property Management (RPM) is the first and largest franchise organization in the field of residential property management. Founded by Kirk McGary and two friends in 1986. Kirk McGary and his partner, Doug Oler, started the first ever property management franchise in 2004. RPM has grown in recent years from 160 in 2011 to 337 units in 2020. And 22 units of them are outside the US. A property management franchise allows the franchisee to run their own business by providing property management services, including the management of repair and maintenance services, and rent collection.
iTrip Vacations
Founded in: 2008
Franchising since: 2015
Franchise units: 84
Initial investment: $129,075 - $148,375
Franchise Fee: $30,000
Royalty Fees: 5%
Steve Presley is the founder of iTrip Vacations. He has been buying, selling, managing and building real estate for over 30 years. Over the past 12 years, he, along with other employees, has been involved in the marketing, buying and selling of some 3,000 properties. Steve has owned beachfront condominiums in rental programs for over 15 years. The company was established in 2008. iTrip Vacations is a full-service short-term rental property franchise with over 12 years of industry experience, over 80 franchisees and over 100 destinations. iTrip Vacations continues to grow steadily in the US, Canada and beyond.
All County Property Management
Founded in: 1990
Franchising since: 2008
Franchise units: 58
Initial investment: $66,950 - $98,900
Franchise Fee: $39,500
Royalty Fees: 7%
Steve Presley is the founder of iTrip Vacations. He has been buying, selling, managing and building real estate for over 30 years. Over the past 12 years, he, along with other employees, has been involved in the marketing, buying and selling of some 3,000 properties. Steve has owned beachfront condominiums in rental programs for over 15 years. The company was established in 2008. iTrip Vacations is a full-service short-term rental property franchise with over 12 years of industry experience, over 80 franchisees and over 100 destinations. iTrip Vacations continues to grow steadily in the US, Canada and beyond.
Property Management Inc.
Founded in: 2008
Franchising since: 2008
Franchise units: 257
Initial investment: $42,550 - $166,600
Franchise Fee: $15,000 - $50,000
Royalty Fees: 7%
Steven Hart founded PMI in 2008 with a strong desire to create the largest franchise network in the country for managing residential, business and associations. Prior to joining PMI, he spent most of his career in the ups and downs in real estate related to construction, development and sales. Not all property management franchises are of the same type. Local offices of Property Management Inc. provide top-notch management services, so when their clients lack the time or experience needed to manage their property and investments on a day-to-day basis, PMI Franchisees are the best property management solution. They are responsible for the day-to-day operations of their clients' assets.
Keyrenter Property Management
Founded in: 2007
Franchising since: 2014
Franchise units: 42
Initial investment: $70,140 - $122,395
Franchise Fee: $35,000
Royalty Fees: 7%
Keyrenter is a leading US brand providing residential property management and other real estate brokerage services to investors and landlords. The Keyrenter brand is owned by two Utah real estate brokers, Aaron Marshall and Nate Tew. The brand was registered on June 11, 2009. In 2014, the company received a franchise. In 2015, it was renamed Keyrenter Property Management. On April 12, 2017, it was renamed Keyrenter. Keyrenter Property Management is a team that cares about results. Nothing is more important than customers, residents, teams and communities. A rented property is the best long term financial investment.
Book by Owner
Founded in: 2003
Franchising since: 2009
Franchise units: 10
Initial investment: $42,250 - $72,500
Franchise Fee: $30,000 - $45,000
Royalty Fees: 6%
Book by Owner (BBO) is a pioneer in pay-based vacation rental management. It provides guest communication and ground services for vacation rentals when the property owner makes a reservation. BBO was founded in 2003. BBO continues to evolve continuously and remains the industry leader. Unlike many old school property management companies, BBO does not take a percentage of the client's booking income. BBO currently serves hundreds of different properties in many resort cities and is expanding throughout the United States. A BBO franchisee is not a payroll manager working for another person, but a resident and community member as well as a business owner. The property owner is also the owner of the business, so there is a natural direct relationship with clients.
Nexus Property Management
Founded in: 2012
Franchising since: 2017
Franchise units: 1
Initial investment: $50,350 - $106,250
Franchise Fee: $25,000
Royalty Fees: 6%
Nexus Properties Inc. is a family owned company that was founded in 1979. The founder of the company is Syd Sussman - the owner of the steel company Certified Steel. It is a real estate development and management company. The creators funded, designed, built, leased and managed a wide range of real estate properties throughout New Jersey, including high-rise and low-rise office buildings, medical offices and institutions, warehouse and mixed-use facilities, parking lots, shopping centers, and more.
Showhomes
Founded in: 1986
Franchising since: 1994
Franchise units: 55
Initial investment: $85,600 - $164,500
Franchise Fee: $49,900
Royalty Fees: 10%
Showhomes started their business in 1986 with the concept of converting vacant homes, which buyers often perceive as outdated, unattractive and lifeless, into fully furnished and valuable homes. Showhomes has been working with homeowners and their realtors for the third decade. They also provide home managers to live and manage the home until its final sale, pay all or part of the utility bill, and reduce the risk of vandalism. Showhomes is based in Nashville, Tennessee and has been a franchisee since 1994. The company deservedly became the best home rental service in America.
Grand Welcome
Founded in: 2009
Franchising since: 2019
Franchise units: 12
Initial investment: $74,100 - $161,250
Franchise Fee: $45,000 - $105,000
Royalty Fees: 7%
Brandon Ezra is the founder and CEO of Grand Welcome. Brandon Ezra founded Grand Welcome from several condominiums in Mammoth Lakes, and later turned his property management company into one of the largest in this area. This was the beginning of the larger growth of Grand Welcome. Grand Welcome offers fully stocked vacation rentals in California, Idaho and Hawaii with many different accommodation options to choose from. For franchisees, the company has created a unique model that allows them to expand their business, hire new properties and develop a successful vacation rental business at no additional cost. Grand Welcome is expanding into new territories and regions across the United States and is actively seeking franchisees.
Eye On Your Home
Founded in: 2010
Franchising since: 2015
Franchise units: 1
Initial investment: $27,550 - $37,550
Franchise Fee: $25,000
Royalty Fees: $350/month
The founder of Eye On Your Home, a real estate management company that saves owners time and money, is Melissa Rulli. Eye On Your Home is a North Carolina home real estate management company. The company provides home security services, property management, concierge services, home maintenance and cleaning, and offers support to empty home owners. Eye On Your Home invites everyone to become a franchise owner by joining the property management industry with a business model that is flexible, profitable and delivers tremendous value to your clients.
Conclusion
To summarize, we can say any of the listed above property management franchises is worth buying. But there is a lot to consider while choosing the best one for you. Pay attention to the reputation of the brand, what training and support are offered, check if the other franchisees are successful. But the main thing you need to do is to align your budget with investment requirements of the brand. In order to ease the challenge, we have made the comparison flowchart of the best property management franchises in the USA for you. It shows the minimum estimated initial investment and initial franchise fee of each brand. By using it, you can figure out the difference in financial requirements for each franchise, and decide which one fits you the most.
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