- 2023 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$101K - $178K
- Units as of 2022
42 16.7% over 3 years
Keyrenter Property Management is a residential property management company founded in 2007 by two business partners, Aaron Marshall and Nate Tew. The company offers several property management services such as rent collection, tenant search to fill vacant houses, completing repairs, and maintaining residential properties on behalf of property owners.
Keyrenter Property Management started franchising in 2014. There are currently more than 40 Keyrenter Property Management units across North America and Canada, with their headquarters located in Midvale, Utah. Nearly all of those 40 units are franchises.
Why You May Want to Start a Keyrenter Property Management Franchise
Property management may be a stable business as people lean towards renting rather than buying property. Regardless of the challenging economic times, people are always looking for a place to live.
To be a Keyrenter Property Management franchisee, you don't need prior experience in property management. Keyrenter Property Management trains franchisees to run their business by utilizing classroom sessions and online webinars. Keyrenter Property Management drives business for franchisees by marketing the brand on national media. They also help you build a company website, operate social media pages, and send out internet marketing material via email.
Absentee ownership is permitted with a Keyrenter Property Management franchise. In that case, you would only need to delegate duties to your staff for daily operations. Franchisees enjoy being their boss and working on a flexible schedule that allows leisure and family time.
What Might Make a Keyrenter Property Management Franchise a Good Choice?
To be part of the Keyrenter Property Management team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for the existence of ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements. Keyrenter Property Management also collaborates with third-party lenders to help cover the franchise fee and startup costs should you meet the requirements.
Keyrenter Property Management franchise agreement term is typically good for 10 years with the option of a renewable period. The franchisor allows terms of renewal more than once, provided franchisees meet the set-out conditions.
How To Open a Keyrenter Property Management Franchise
As you decide if opening a Keyrenter Property Management is the right decision for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Keyrenter Property Management franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Keyrenter Property Management franchising team questions.
It may also be a good idea to speak with an attorney or financial advisor to ensure that you have the necessary financial standing to own and operate a Keyrenter Property Management franchise.
About Keyrenter Property Management
- Business Services
- Related Categories
- Property Management, Miscellaneous Business Services, Miscellaneous Services
- Parent Company
- Keyrenter Franchise LLC
- Nate Tew, CEO
- Corporate Address
79 E. Fort Union Blvd.
Midvale, UT 84047
- Franchising Since
- 2014 (2023-2014 years)
- # of employees at HQ
- Where seeking
This company is offering new franchisees throughout the US.
This company is offering new franchisees worldwide.
- # of Units
- 42 (as of 2022)
Information for Franchisees
Here's what you need to know if you're interested in opening a Keyrenter Property Management franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $101,125 - $178,279
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- 20% off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 10 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Keyrenter Property Management has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- Classroom Training
- 40 hours
- Ongoing Support
Meetings & ConventionsGrand OpeningOnline SupportField OperationsProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Social MediaSEOWebsite DevelopmentEmail Marketing
Additional details about running this franchise.
- Is absentee ownership allowed?
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- # of employees required to run
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Interested in ownership opportunities like Keyrenter Property Management? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Keyrenter Property Management landed on this year's Franchise 500 Ranking versus previous years.
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