Published on 2 Jan 2022 Time 6 min read Last update by 20 Feb 2024

Real Property Management Franchise Review: What You Need to Know

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Real Property Management is the nation’s leading property management organization and the first in the industry to franchise.

The company was founded over 25 years ago by the two founders who eventually would go on to start the first-ever property management franchise in 2005.

As the first and largest franchise organization in residential property management, and with over 25 years of experience refining property management, is the nation’s trusted leader, recognized by leading reputable sources.

Management Team

Dwyer Group, Inc. is a leading operator of multiple franchise concepts, primarily related to commercial and residential maintenance and repair. The group completed the acquisition of Real Property Management in February 2018. Dwyer Group was founded in 1981 and is headquartered in Waco, Texas. It is one of the world’s largest franchising organizations with more than 3,100 spread over 9 countries, close to 250 franchisees operating through international master licenses, and over 35 company-owned glass stores under the brand name Portland Glass.

Dwyer Group has developed a highly efficient model with a focus on strong franchise support and superior customer service while fostering a unique corporate culture based on a shared Code of Values. Each of the company’s concepts provides need-based services, such as plumbing and appliance repair, that are critical for proper maintenance and often urgent in nature. Dwyer Group is majority owned by The Riverside Company, a private equity firm with locations in North America, Europe, and Asia, and has available growth capital and credit capacity to execute acquisitions in a prompt manner.

The company is lead by a very experienced and supportive management team that helps and trains franchisees so that they have all of the tools to success at their disposal.

Franchise & Real Estate Industry Analysis 

property management


Franchise Strengths 

  • Strength and power of a national brand, technology-driven system, professional marketing, volume purchasing power, and comprehensive training and support
  • Relations nurtured through property management can allow for income through real estate sales, etc. 
  • Ability to generate revenue through multiple revenue streams

Franchise Weaknesses

  • Other property management firms like All County and Property Management Inc. are entering the space and growing fast.
  • Must be willing to put in the time and effort necessary to grow the business for the first few years, but will then have the option to enjoy the freedom that comes through scalability.

Real Estate Franchise Opportunities 

  • Home ownership rates have fallen as the nation, especially the younger generation, becomes more mobile and less willing to take on a mortgage. The result is an ever increasing number of potential homes to manage and prospective tenants needing a place to live
  • Huge market – 1/3 of all U.S. housing is renter occupied and there are 34 million rental locations in the U.S.
  • It’s harder to qualify for a mortgage, so more and more homes are being bought by investors who need property managers
  • Recession resistant and can actually perform better in a downturn as more people end up renting

Threats in the
Real Estate Franchise Market

  • Potential for new competitors entering the space whether franchise models or corporations 
  • Potential for very stressful weeks during hurricanes and extreme weather situations

The cost ranges from $86,795 to $117,795 according to the 2018 FDD.


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Real Property Management Franchise Cost (2018 FDD)

The cost ranges from $86,795 to $117,795 according to the 2018 FDD.

Cost TypesAmount (in USD)When DueTo Whom Payment is to Be Made
Franchise Fee$45,000$60,000Upon Effective Date of
Franchise Agreement
Rent$0$1,500Monthly, as incurredYour
Rental improvements$0$2,500As incurred.Vendors
Deposits$0$2,500As incurredUtilities
Pillar Certification (Training
Program, Workshop,
$0$3,800As incurred.Vendors and
Equipment and Business
$500$3,000As incurred, before
opening for business.
Computer hardware and
software (including
PMiPrograms, PMiSTR,
Accounting Software (as
$675$5,950As incurred; Once
assessed, our software
fees are payable
monthly, due on the 1st
of each calendar month.
(for Doors and
$0$18,000Payable on the 1st of
each calendar month;
mandatory until
transition training is
(for Units)
$0$26,200Payable on the 1st of
each calendar month;
mandatory until
transition training is
(for Keys)
$0$12,100Payable on the 1st of
each calendar month;
mandatory until
transition training is
Local Advertising expenses
for period of 3 months.
$4,500$13,500As incurred, but a
minimum of
$1,500/month for the
Primary Pillar and
$1,000/month for each
additional Pillar, with
any amounts owed to us
being due on the 1st of
each calendar month.
Us, vendors
Insurance$750 $3,000Annually (or divided
into monthly premium
payments), as incurred.
Professional services$0$1,500As incurred.Attorneys,
and other
EPMC Conversion$1000$10,000When Doors, Units,
Suites, and Keys are
converted to Franchisor
Initial Trust Account deposit
for Short-Term Rental
$500$1,000When bank account is
VOIP Telephone Equipment
(3 months not including
FCC fees and taxes)
$300$500As incurred.Vendor.
Additional Funds for period
of 3 months
$0$20,000As needed.Various.
5.0% 2.0%


Historical Revenue for Real Property Management 


As of December 31, 2017, PMBS had 203 franchise owners who operated 280 Real Property Management franchises. Monthly reports from these franchise owners provide PMBS’ only visibility into the financial results of the individual franchise owners’ operations. Most franchise owners respond regularly, while some respond less frequently, or not at all. PMBS has not independently verified the data submitted by franchisees.

In PMBS’ effort to provide financial performance data for a representative sample of the Real Property Management franchise network, we took the following steps to provide the averages below:

  •  Eliminated data from owners in their start-up period. There were 42 franchises whose data was not included because they were within their first 12 months of operation.
  • Eliminated data from non-reporting owners. Data for 5 franchises was insufficient and therefore not included.

The following charts represent the average number of units and average revenue per unit being managed by Real Property Management franchisees. The data is broken down according to the age of the franchise, based upon the year the franchise was opened. The average annual revenue per unit data was drawn from the franchisee reports described above.

Total Reporting Franchises More Than 1 Year and Less Than 3 Years Old

Average Units Managed per Franchise133
Median Units Managed per Franchise89
Average Annual Revenue per Unit$3,440
Median Annual Revenue per Unit$2,983
Total Reporting Franchises Over 3 Years Old191
Average Units Manged per Franchise262
Median Units Managed per Franchise194
Average Annual Revenue per Unit$2,826
Median Annual Revenue per Unit$2,659
Total Reporting Franchises Overall233
Average Units Manged per Franchise236
Median Units Managed per Franchise149
Average Annual Revenue per Unit$2,952
Median Annual Revenue per Unit$2,835
Total Reporting Franchises Overall224
Average Rent$1,143
Median Rent$1,065

-The above figures are based on the Item 19 of Real Property Management 2021 FDD

–Some franchises have had the results described above. There is no assurance that you will do as well.

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