Keyrenter Property Management Franchise FDD, Profits & Costs (2024)
Keyrenter Property Management is a professional property management franchise specializing in providing seamless real estate management services. It was founded in 2007 and is headquartered in Midvale, Utah.
The company started franchising in 2014 and focuses primarily on managing single-family homes, condominiums, and multi-family properties. Keyrenter offers property owners and investors an efficient, hands-off way to manage their rental properties.
One of the standout features of Keyrenter is its use of automation and proprietary technology, enabling franchisees to manage more properties with minimal effort.
This approach helps them save time and reduce stress while increasing profitability. Franchisees benefit from recurring monthly revenue streams and are equipped with tools to handle tasks such as tenant placement, maintenance coordination, and rent collection.
Currently, Keyrenter operates over 55 units across the United States and continues to expand, with opportunities available in most states.
Keyrenter Property Management Franchise Stats
Keyrenter Property Management
Number of units: 54 franchises
Initial investment: $112,000 - $229,000
Average revenue (AUV): $402,000
Initial Investment
How much does it cost to start a Keyrenter Property Management franchise? It costs on average between $112,000 – $229,000 to start a Keyrenter Property Management franchised business.
This includes costs for construction, equipment, inventory, and initial operating expenses. The exact amount depends on various factors, including the type of facility you choose, the location, and whether the franchisee chooses to lease or purchase the property.
Type of Expenditure | Amount |
---|---|
Franchise Fee | $45,000 |
E-2 Visa Fee | $0 – $10,000 |
E-2 Visa Deposit | $0 – $35,000 |
Training Fee | $5,000 |
Start-Up Marketing Package Fee | $10,000 |
Travel and Living Expenses for Training | $3,000 – $5,000 |
Real Estate/Rent | $2,500 – $5,000 |
Real Estate Broker Fees | $5,000 – $10,000 |
Real Estate Licensure or Training | $800 – $2,000 |
Utility Deposits | $0 – $1,500 |
Leasehold Improvements | $0 – $4,000 |
Insurance | $1,500 – $4,000 |
Office Equipment and Supplies | $1,000 – $4,000 |
Signage | $500 – $5,000 |
Furniture, Fixtures, and Equipment | $1,500 – $2,000 |
Appfolio Software Implementation Fee | $600 |
Licenses and Permits | $1,650 – $3,000 |
Legal & Accounting | $2,000 – $6,000 |
Dues and Subscriptions | $1,500 – $3,000 |
Keyrenter Marketing | $0 – $3,554 |
Local Marketing and Lead Generation | $0 – $8,550 |
Additional Funds (3 months) | $30,275 – $57,275 |
TOTAL | $111,825 – $229,479 |
Average Revenue (AUV)
How much revenue can you make with a Keyrenter Property Management franchise? A Keyrenter Property Management franchised business makes on average $402,000 in revenue (AUV) per year.
Here is the extract from the Franchise Disclosure Document:
This compares to $331,000 yearly revenue for similar broker / realtor franchises. Below are 10 Keyrenter Property Management competitors as a comparison:
Keyrenter Property Management Franchise Disclosure Document
Frequently Asked Questions
How many Keyrenter Property Management locations are there?
As of the latest available data, Keyrenter Property Management operates approximately 55 locations, all of which are franchise-owned. The company does not appear to have any company-owned units, focusing entirely on its franchise model.
What is the total investment required to open a Keyrenter Property Management franchise?
The total investment required to open a Keyrenter Property Management franchise ranges from $112,000 to $229,000.
What are the ongoing fees for a Keyrenter Property Management franchise?
Keyrenter Property Management franchisees pay a 7% royalty fee on gross revenues. Additionally, there is a 2% marketing fee that supports national advertising efforts. These fees ensure ongoing brand support and marketing visibility for franchisees.
What are the financial requirements to become a Keyrenter Property Management franchisee?
To become a Keyrenter Property Management franchisee, you must meet the minimum net worth required is $300,000, and prospective franchisees must have at least $70,000 in liquid capital.
These financial benchmarks ensure that franchisees have the necessary resources to successfully launch and sustain their property management business within the Keyrenter system.
How much can a Keyrenter Property Management franchise owner expect to earn?
The average gross sales for a Keyrenter Property Management franchise are approximately $0.4 million per location. Assuming a 15% operating profit margin, $0.4 million yearly revenue can result in $60,000 EBITDA annually.
Who owns Keyrenter Property Management?
Keyrenter Property Management is owned by Keyrenter Franchise, LLC. The franchise was founded by Nate Tew, who serves as the CEO. Under his leadership, Keyrenter has expanded into a nationwide franchise system focused on residential property management.
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