At the Franchise Brokers Association, we are always looking for franchise concepts that consist of a solid foundation built on a trustworthy reputation, forward-thinking leadership, and a vision that predicts a leading-edge future as a role model to follow in their industry. We have been very excited to not only bring on board Real Property Management to our membership, but to also offer them to our vibrant roster of franchise brokers, all eager to represent successful franchises to their prospects.
Their Story
The inspiration behind Real Property Management was formulated by serial entrepreneur Kirk McGary. During Kirk’s college years, he had a choice of a part-time job working with some friends involved with property management or working in fast food; he of course chose property management. After college, and a number of successful business endeavors, he started his own property management business in 1986.
Fifteen years of growth later, Kirk decided to partner with another entrepreneur, Doug Oler, who had extensive business experience running multi-unit companies. Together, they decided to share Kirk’s property management success with others and, in 2005, launched their first Real Property Management franchised office.
Over the next decade, Real Property Management brought entrepreneurs of varying backgrounds on board throughout the United States and Canada. Surprisingly enough, most of these franchise owners didn’t have a real estate background nor did they have property management experience prior to joining their team. That’s part of the innovative uniqueness that the Real Property Management opportunity offers.
Along the way, Real Property Management has continued to refine their systems and processes, implement new technologies, design and build best in class training systems, and provide first class marketing tools for their growing franchise base. Today, the Real Property Management franchise is 270 locations strong in 45 of the 50 states, supported by 60 employees in their headquarters in Salt Lake City, Utah.
Read More About Kirk McGary
Franchisor Requirements
Their primary focus is management of single and multi-family rentals, although some offices also manage commercial property, vacation rentals, and common interest communities. Every state can have multiple franchise owners and they encourage a unique, collaborative system that allows neighboring franchise owners to work together to gain market share in their area.
The role of a property manager consists of finding and screening tenants, collecting rent payments, providing property inspections, maintenance & repairs, and processing evictions when necessary. The key functions of the owner of the business include selling services to property owners and investors, working with real estate agents and others to gain business referrals, and managing the business and staff. Real Property Management’s well-established, proven operating systems and technology streamline operations and make their owners more efficient than their competitors. Their best franchisees commit to working hard in the business initially, knowing they will reap the rewards of their work by transitioning to a more passive role over time. They enjoy networking and know how to sell, or are willing to hire someone who does.
The initial investment required starts at $75,000 and the franchisee can expect to earn a management fee of about 10% of the monthly rent and half a month’s rent for leasing a property. The average revenue per property is over $2,200.
What Makes Real Property Management Different
In an industry where 80% of rental units are managed independently by their owners, Real Property Management is grounded in a much-needed niche in the Real Estate industry. Although they are by far the largest property management franchise organization in North America, managing approximately $8 billion in total assets, that represents a small percentage of the overall industry potential. The opportunity for growth within their existing owner base and for new franchisees is incredible to say the least!
Real Property Management was recognized by Forbes in 2014, as one of the top 10 franchises in the country in the under $150,000 investment category. They continue to win other industry recognition and awards.
CLICK HERE TO VIEW MORE: http://www.realpropertymgt.com/who-is-real-property-management/awards-and-recognitions
Their efficient system is based on 25 years of experience. The have organized a nationally-recognized brand with proven vendor partners and relationships, developed extensive training and on-going support programs, attracted and cultivated a world class support staff and executive roster, are continually investing in automation and technology to push the brand to new heights in the industry, and have outstanding marketing support. They teach their franchisees how to obtain higher revenue per property than competitors, while remaining price competitive.
These efforts have built credibility with investors of rental property and are also what Real Property Management franchise owners have come to depend on to make their dreams of business ownership an enjoyable and lucrative experience.
What The Future Holds
Continuing on through 2015 and beyond, Real Property Management plans to expand its coverage throughout the country while maintaining the strength and quality of the property management services that they’ve delivered for multiple decades.
Our goal is to build upon our strong foundation and repeatedly raise the bar in the property management industry. We are dedicated to not only providing, but continually refining the training, support, and resources that our franchise owners need to both succeed and deliver exceptional service to their customers.
Valerie Mikita
Director of Franchise Affiliations | Franchise Support Center