Keyrenter provides real estate management and rental services for single-family homes, condominiums, and multi-family properties. The franchise supports property owners with tenant management and leasing.
Key Insights
- Keyrenter Property Management was founded by individuals with a strong background in the real estate sector, driven by a vision to revolutionize property management services and establish a trusted brand in the field. The franchise has since grown its footprint, offering a comprehensive suite of solutions to property owners and investors.
- The franchise operates by providing full-service property management, encompassing tenant acquisition and screening, rent collection, property maintenance and repairs, and financial reporting for owners. This model ensures a streamlined and efficient experience for clients seeking to maximize their real estate investments.
- The business is positioned within the robust and expanding property management industry, a sector characterized by increasing demand for professional services from property owners and the growth of rental markets nationwide. This environment offers opportunities for expansion and market penetration.
Franchise Fee and Costs to Open
Exploring the financial picture of Keyrenter Property Management gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $116,425 - $240,979, along with a franchise fee of $50,000 - $50,000.
Financial Performance and Revenue
Yearly gross sales of $418,290 and estimated earnings of $75,293 - $92,024 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 2.6-4.6 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Keyrenter Property Management provides new franchisees with comprehensive training and resources. Initial training lasts for two weeks and is held at their corporate location. The franchisor offers a robust operational system and ongoing support. Keyrenter Property Management recommends utilizing their proprietary software and marketing strategies. Resources include detailed operations manuals and access to a support team.
Legal Considerations
Legal considerations for a Keyrenter Property Management franchisee are defined by the Franchise Disclosure Document (FDD) and the Franchise Agreement. This franchise does not disclose lawsuits or bankruptcy information in its FDD, but prospective franchisees should still review all terms thoroughly. Consultation with a qualified attorney is essential before making commitments.
Challenges and Risks
Franchisees may encounter challenges navigating diverse local rental markets and managing the operational intricacies of property management. Building a robust network of reliable maintenance vendors and adapting to regional landlord-tenant laws are key considerations for sustained success.
Franchise Datasheet
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