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Updated RecentlyRenters Warehouse vs Keyrenter Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Renters Warehouse vs Keyrenter including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $14,819 - $50,405 | $66,430 - $136,514 |
| Franchise Fee | $1,000 - $10,000 | $30,000 |
| Royalty Fee | 4.5% | 7% |
| Advertising Fee | - | 1% |
| Year Founded | 2007 | 2007 |
| Year Franchised | 2011 | 2014 |
| Term Of Agreement | 7 years | 10 years |
| Term Of Agreement | 7 years | 10 years |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | Q. Do you need business experience to run a Renters Warehouse property management franchise? A. No, Renters Warehouse will provide your initial training and also ongoing support. We will also provide you with a well documented and easy to use operations manual. | 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 |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | -/- | Yes/Yes |
| Start-up Costs | -/- | -/Yes |
| Equipment | -/- | -/- |
| Inventory | -/- | -/- |
| Receivables | -/- | -/- |
| Payroll | -/- | -/- |
Training & Support |
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| Training | Available at headquarters: 5 days. At franchisee's location: 2 days. | 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 | Newsletter, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives, Lease Negotiation | Purchasing Co-ops Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform |
| Marketing | Co-op advertising, National media, Regional advertising, | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing |
| Operations | - | 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 |
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| US Expansion | Yes | Yes |
| Canada Expansion | - | - |
| International Expansion | - | - |
Company Overviews
About Renters Warehouse
The Renter's Warehouse franchise offers a complete business model based on technology, operating systems, marketing programs and proven property management business tools.Renters Warehouse was named the largest and fastest growing property management company in Minnesota by Inc. Magazine. In addition to Minnesota, they are ranked #3 in the nation. Renters Warehouse is also considered the largest Minneapolis Property Manager. Renters Warehouse was featured #132 in the Inc. 500 for fastest growing privately held companies in America!
Renters Warehouse is America’s full-service property management and investment services company for Single-Family Rental homes.
We believe our clients deserve a partner to help them execute on their real estate investment strategy with ease. Our real estate investment marketplace services and hassle-free property management will help you to take the next steps to financial freedom.
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.