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Updated RecentlyProperty Management Inc. vs Keyrenter Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Property Management Inc. 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 | $42,550 - $166,600 | $66,430 - $136,514 |
| Franchise Fee | $15,000 - $50,000 | $30,000 |
| Royalty Fee | 7% | 7% |
| Advertising Fee | up to2% | 1% |
| Year Founded | 2008 | 2007 |
| Year Franchised | 2008 | 2014 |
| Term Of Agreement | - | 10 years |
| Term Of Agreement | - | 10 years |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | - | 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 | On-The-Job Training: 47-73 hours Classroom Training: 31 hours Additional Training: Online 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 | The goal of our system is to enable our franchise owners to focus on the things that work and avoid costly and time consuming mistakes. PMI has trained and experienced people who will train you in every aspect of the business. There are people to call for help. There are people who will come to your place of business to show you the way. When you are successful, Property Management Inc. is successful. Our comprehensive training and support package ensures our franchisees are fully equipped to launch and develop their PMI business. Purchasing Co-ops Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Proprietary Software Franchisee Intranet Platform | Purchasing Co-ops Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform |
| Marketing | Co-op Advertising Ad Templates National Media 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 | Absentee Ownership Allowed Number of Employees Required to Run: 1 | 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 | Yes | - |
Company Overviews
About Property Management Inc.
PROPERTY MANAGEMENT. The property management industry is one of the fastest growing industries in the nation. Regardless of whether or not the real estate market is strong or weak, non-owner occupied or investor owned properties require a knowledgeable and capable property management company. With a PMI franchise, you can provide valuable and profitable services to the multi-trillion dollar real estate industry. Property management services include, but are not limited to: advice and assistance in leasing real property, communications with tenant and landlord, collecting rent, setting up and overseeing repair and maintenance contracts and tenant improvement contracts, real estate brokerage services, inspections, paying bills, handling evictions and monthly, quarterly and annual financial reports.
You don't need a background in real estate or property management to be successful with PMI. We have done the work, tested the procedures and proven that the system works. A PMI franchise allows someone with a little or a lot of real estate experience to build a thriving business using our system. You can totally change careers without years of schooling or apprenticeship or research. PMI does not require that its franchisees have prior property management or real estate experience. Instead of an industry experience requirement, PMI requires that its franchisees are effective at motivating employees, converting leads into contracts, and running the day-to-day operations as efficiently as possible
Property Management Incorporated has developed a system for establishing, operating, and marketing a franchised property management services company. We provide franchisees with an opportunity to operate a property management business, in a specific geographic area using our name, logo and other copyrighted materials, operating procedures, marketing methods and materials, proprietary property management process and system, customer reporting procedures, operating manuals and software solutions. Your PMI Office will provide property management, leasing and real estate brokerage services to the following sectors: residential, retail, commercial and industrial.
Veteran Incentives 10% off standard ($35,000) franchise fee
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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.