| ||||
Updated RecentlyReal Property Management vs Keyrenter Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Real Property Management vs Keyrenter including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $101,224 - $154,974 | $66,430 - $136,514 |
| Franchise Fee | $55,000 | $30,000 |
| Royalty Fee | 7% | 7% |
| Advertising Fee | 1% -2% | 1% |
| Year Founded | 2004 | 2007 |
| Year Franchised | 2004 | 2014 |
| Term Of Agreement | - | 10 years |
| Term Of Agreement | - | 10 years |
| Renewal Fee | - | - |
Business Experience Requirements |
||
| Experience | We are looking for franchise owners who want to build an ever-growing business. Our franchisees come from all walks of life. Our best franchisees are committed to working hard for the first few years before reaping the rewards of their efforts. New franchisees must have minimum working capital of $80,000. | We take strict precautions to protect our brand, reputation and increase the success rate of our franchisees. Because of this, we must be selective in our expansion process. The personality profile of the ideal franchise owner includes all of the traits listed below: * Honest and ethical value system * Entrepreneurial spirit and mind-set * Enjoys working with people * Good communication, marketing and networking skills * Driven to provide excellent customer service * Understands the concept of giving back * Financially stable * Management and staffing ability Each Keyrenter Franchise candidate must be willing and able to fulfill the following tasks: *Participate in training and develop understanding of all Keyrenter systems * Recruit, hire and train staff while ensuring their access to corporate support * Learn, understand and abide all fair housing laws and regulations * Manage staff or hire business manager * Build brand awareness and participate in marketing campaigns |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | -/Yes | Yes/Yes |
| Start-up Costs | -/Yes | -/Yes |
| Equipment | -/- | -/- |
| Inventory | -/- | -/- |
| Receivables | -/- | -/- |
| Payroll | -/- | -/- |
Training & Support |
||
| Training | New franchisees participate in seven weeks of online training, four days of live training, and receive 30 - 60 days of one-on-one on-boarding. Then, our team of property managers, marketing professionals, accountants, and business coaches provide on-going expert advice. In addition, an intranet accessible only to our franchisees includes a detailed operations manual and a library of over 500 forms, checklists, and job aids. During the year we hold two national conferences, monthly marketing and operations calls, weekly communications, and frequent webinars on topics of interest to franchisees. Our network of 280 fellow franchisees band together to provide additional support to each other. On-The-Job Training: As needed Classroom Training: 32 hours+ Additional Training: Online training, 7 weeks; ongoing advanced training | Phase I - The initial training program is held approximately one month prior to the opening of your business and there is no fee to attend the program. It is held at Keyrenter Headquarters in Midvale, Utah (Salt Lake City) and is also referred to as KeyUniversity. It was designed for completion in one week (5 business days). Approximately 27 hours will be spent in the classroom, and 8 hours will be spent shadowing a Keyrenter Property Manager while they are actually on-the-job. KeyUniversity will cover the following topics: accounting, marketing, management, maintenance, office procedures, sales and closing. Phase II training is delivered in three different stages as follows: Stage 1 - JUST IN TIME TRAINING - Once the business has opened, an onboarding specialist will be appointed to assist with questions for the first 12 weeks to address any question about software and KeySystems. After that, we will always be here to assist during regular business hours and we will respond to questions as quickly as possible. Stage 2 - ONGOING SUPPORT - After onboarding is complete, continued ongoing support in the form of phone and email assistance, conference calls and pre-scheduled webinars will be available.. Stage 3 - ANNUAL EVENTS - Annual conventions will be held at our headquarters, or other location we designate. Conventions will not exceed four (4) days in length. The purpose is to create a fun and stimulating environment where franchisees can benefit from the synergy created by like minded people. The event will be used to launch new products, and discuss business trends, policies, procedures and trade regulations. Advanced training and mastermind sessions will also be available. |
| Support | State of the art operating systems, productivity software, streamlined processes, an intranet available only to our franchisees, and monthly scorecards make our offices efficient and productive. Standardization allows us to monitor performance of each office relative to similar offices so we can provide best practices. A complete set of marketing tools are ready for you to use, including a custom website, over 50 videos, numerous presentations and sales scripts, online and print advertising, brochures, direct mail, email, broadcast advertising and client newsletters. Using Brand Central, items are customizable for each franchise. Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Proprietary Software Franchisee Intranet Platform | Purchasing Co-ops Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform |
| Marketing | Our world-class marketing includes national public relations, publication of quarterly rental market statistics, media rates and performance data for broadcast media, research on rental property owner attitudes and perceptions, and a database of information about 14,000,000 prospective property investor clients. Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing |
| Operations | Number of Employees Required to Run: 1 - 3 | The Keyrenter Property Management business model is scalable. To begin with, at least one property manager is required to negotiate contracts. After the ramp-up stage, a full-time office manager should be added to handle calls during business hours. A broker license association may also be required depending on your state's regulations. Each franchise owner must decide whether to obtain a real estate license, or hire someone who already has one. * Pay yourself * Market to owners * Close contracts * Make sure properties are ready to rent * Oversee maintenance of properties * Provide property inspections * Collect rents * Pay vendors Absentee Ownership Allowed Number of Employees Required to Run: 1 |
Expansion Plans |
||
| US Expansion | Yes | Yes |
| Canada Expansion | Yes | - |
| International Expansion | - | - |
Company Overviews
About Real Property Management
Real Property Management is an award winning franchise with more than 280 offices throughout North America. Real Property Management have been named to the 10 best franchises in the United States by Forbes magazine for investments under $150,000. We are also proud to be ranked the #1 property management franchise on Entrepreneur magazine's list of top 500 franchise companies, and have been ranked for seven consecutive years; Inc. 500 recognized us as being one of the fastest growing privately held companies in 2010 through 2013. And, Franchise Business Review has named us a top 100 franchise for veterans based on satisfaction surveys from our veteran owners compared to other franchises. We were named Best for Vets by Military Times and in 2016 were name Franchisor of the Year by ThinkRealty magazine.
Your role as a property manager would be to find and screen tenants, process rent payments, provide property inspections, maintenance & repairs, and process evictions when necessary. As the owner of your own business, you would be selling your services to property owners and investors, working with real estate agents and others to gain business referrals, and managing your business and staff. Our well established, proven operating systems and technology will streamline your operation and make you more efficient than your competitors.
Veteran Incentives 10% off franchise fee
!["Top]("https://d1v10wa6gxsq73.cloudfront.net/images/production/top100_icon3.png")
!["Entrepreneur]("https://d3fg11dgb68kbp.cloudfront.net/assets/photos/franchise-badge-22686037fc120ba1bd59c2c9fd6e0fbf.png"){kind=icon}
!["franchiserankingscom"]("https://d3t9r0kmeshe93.cloudfront.net/settings/71116cc7-281b-43ed-8275-5087635f96d8.png")
About Keyrenter
Keyrenter Franchise is the ultimate business model in innovative and proactive residential property management. Every system was painstakingly developed to reduce the time, money, effort and stress associated with doing business. Through the use of KeySystems, franchise owners can handle more properties with fewer people, enabling them to focus on building business, capture a higher share of the market, and outpace competitors.
Proprietary software, combined with years of extensive research, analysis of our exact target marketing techniques, and a sound understanding of the real estate industry, have led to brand recognition and a strong online presence for Keyrenter's local market areas. Professionally designed Keyrenter websites have many functions and act as a proven virtual lead generation machine, through the use of continued assisted marketing.
Our automated and technologically advanced systems are proven to generate passive recurring monthly revenue for franchise and property owners allowing both to build real equity toward retirement.
The benefits derived from our goals and business philosophies extend to everyone: franchise owners, staff, property owners and tenants. We strongly believe that relationships and our value system are the foundation to our success. Keyrenter Franchise strives to be as green as we can be. We have built eco-friendly systems to reduce the carbon footprint we leave on this planet. We are virtually a paperless company and we have drastically reduced the travel time typically associated with the property management industry.