Rodney Fentress spent much of his career in public service, first as a Marine and later as a police officer. He expected to stay on that path, but a difficult divorce prompted him to look for ways to improve his financial situation. His search led him to real estate.
Fentress became a residential real estate agent while still working for the police department and eventually became one of the top-selling agents in Hampton Roads, Virginia. His introduction to property management came when an investor purchasing a three-unit waterfront property asked him to manage two rental apartments.
"I was selling real estate and had never done anything with rental management," Fentress said. “I didn't even know if I could manage rentals through my brokerage. But I've always been the guy who says yes and figures it out.”
That decision eventually led him to Keyrenter Property Management, where he found the systems and support to build a more structured property management business around the work he had started doing for clients.
Over the next several years, Fentress continued accepting property management opportunities. His portfolio grew to 29 rental units, but he was handling problems as they arose without established procedures or a clear understanding of what his services should cost.
"I thought that when something went wrong, I'd just figure it out," Fentress said. “And I got pretty good at that, but I realized it wasn't profitable. I was giving away a lot of services because I didn't know how to properly charge for the work I was doing.”
Fentress was considering whether to commit fully to property management or leave the business when he heard Keyrenter co-founder Aaron Marshall on a podcast. Marshall discussed the company's operating systems, prompting Fentress to visit its headquarters in Salt Lake City.
He also researched other franchises, but the people he met at Keyrenter ultimately influenced his decision. His friends questioned why an experienced real estate broker would need a franchise.
"A lot of my friends were asking, 'What are you doing? You're already a real estate broker. You can do this yourself,'" Fentress said. “And they were right. I could have. But I saw joining Keyrenter as a way to move forward faster, almost like a cheat code.”
He opened Keyrenter Hampton Roads in mid-2018.
Fentress began applying Keyrenter's operating procedures to his business, particularly when it came to pricing and delivering services. His portfolio grew from 29 properties to 174 and eventually reached approximately 260 properties under management.
"I feel like I went from those 29 doors to 174 almost overnight," Fentress said. “Of course, looking back eight years later, it wasn't overnight. But joining Keyrenter helped me scale very quickly.”
Hampton Roads has provided opportunities for growth because of its large military population. Service members frequently relocate, sometimes leaving behind homes they aren't ready to sell. Fentress has even worked with tenants who later purchased homes and returned to Keyrenter for management services after receiving relocation orders.
Despite competition from management firms, real estate agents and independent landlords, Fentress has continued growing his business by refining his pricing strategy and earning referrals from existing clients.
"We try to do everything with a win-win mentality," he said. "We want our clients to win, our tenants to win and, of course, we need to win, too."
Fentress credits much of his development as a business owner to relationships within the franchise network. Experienced operators were available to answer questions and offer guidance when he encountered unfamiliar situations.
"One of the things I always tell my kids is that the best way to learn is from mistakes, but they don't have to be yours," Fentress said. “I was able to learn from other people's experiences and get guidance from people I wouldn't necessarily have had access to outside of Keyrenter.”
Today, Fentress helps newer franchisees through validation calls, coaching and his role on Keyrenter's four-member Brand Development Council. His office also participates in the company's Field Immersive Training program, hosting new owners for a week of hands-on experience.
"Even now that I'm a leader within the system, I still get to learn from the people I'm helping," he said. "And I still get to lean on people who are far more successful than I am. Being part of that community has been the most impactful thing for me."
Fentress plans to continue adding properties to his portfolio, but he is equally focused on building a workplace where employees feel valued and have opportunities to advance.
"If I empower my employees, pay them well and give them a pathway to their own success, a natural byproduct is that they serve our clients at a much higher level," Fentress said.
Eight years after joining Keyrenter, Fentress has grown his property management business and become a valuable resource for other franchise owners. He hopes to continue expanding while maintaining a positive workplace culture.
"I want to create an environment where people enjoy coming to work and being around each other," he said. “I want them to feel good about coming to work.”
To find out more information on costs to buy this franchise, please visit https://1851franchise.com/keyrenter.
Keyrenter Property Management
SPONSORED
Rodney Fentress found the systems and support to grow his property management business in Hampton Roads, Virginia, and become a mentor to other franchise owners.
Rodney Fentress spent much of his career in public service, first as a Marine and later as a police officer. He expected to stay on that path, but a difficult divorce prompted him to look for ways to improve his financial situation. His search led him to real estate.
Fentress became a residential real estate agent while still working for the police department and eventually became one of the top-selling agents in Hampton Roads, Virginia. His introduction to property management came when an investor purchasing a three-unit waterfront property asked him to manage two rental apartments.
"I was selling real estate and had never done anything with rental management," Fentress said. “I didn't even know if I could manage rentals through my brokerage. But I've always been the guy who says yes and figures it out.”
That decision eventually led him to Keyrenter Property Management, where he found the systems and support to build a more structured property management business around the work he had started doing for clients.
Over the next several years, Fentress continued accepting property management opportunities. His portfolio grew to 29 rental units, but he was handling problems as they arose without established procedures or a clear understanding of what his services should cost.
"I thought that when something went wrong, I'd just figure it out," Fentress said. “And I got pretty good at that, but I realized it wasn't profitable. I was giving away a lot of services because I didn't know how to properly charge for the work I was doing.”
Fentress was considering whether to commit fully to property management or leave the business when he heard Keyrenter co-founder Aaron Marshall on a podcast. Marshall discussed the company's operating systems, prompting Fentress to visit its headquarters in Salt Lake City.
He also researched other franchises, but the people he met at Keyrenter ultimately influenced his decision. His friends questioned why an experienced real estate broker would need a franchise.
"A lot of my friends were asking, 'What are you doing? You're already a real estate broker. You can do this yourself,'" Fentress said. “And they were right. I could have. But I saw joining Keyrenter as a way to move forward faster, almost like a cheat code.”
He opened Keyrenter Hampton Roads in mid-2018.
Fentress began applying Keyrenter's operating procedures to his business, particularly when it came to pricing and delivering services. His portfolio grew from 29 properties to 174 and eventually reached approximately 260 properties under management.
"I feel like I went from those 29 doors to 174 almost overnight," Fentress said. “Of course, looking back eight years later, it wasn't overnight. But joining Keyrenter helped me scale very quickly.”
Hampton Roads has provided opportunities for growth because of its large military population. Service members frequently relocate, sometimes leaving behind homes they aren't ready to sell. Fentress has even worked with tenants who later purchased homes and returned to Keyrenter for management services after receiving relocation orders.
Despite competition from management firms, real estate agents and independent landlords, Fentress has continued growing his business by refining his pricing strategy and earning referrals from existing clients.
"We try to do everything with a win-win mentality," he said. "We want our clients to win, our tenants to win and, of course, we need to win, too."
Fentress credits much of his development as a business owner to relationships within the franchise network. Experienced operators were available to answer questions and offer guidance when he encountered unfamiliar situations.
"One of the things I always tell my kids is that the best way to learn is from mistakes, but they don't have to be yours," Fentress said. “I was able to learn from other people's experiences and get guidance from people I wouldn't necessarily have had access to outside of Keyrenter.”
Today, Fentress helps newer franchisees through validation calls, coaching and his role on Keyrenter's four-member Brand Development Council. His office also participates in the company's Field Immersive Training program, hosting new owners for a week of hands-on experience.
"Even now that I'm a leader within the system, I still get to learn from the people I'm helping," he said. "And I still get to lean on people who are far more successful than I am. Being part of that community has been the most impactful thing for me."
Fentress plans to continue adding properties to his portfolio, but he is equally focused on building a workplace where employees feel valued and have opportunities to advance.
"If I empower my employees, pay them well and give them a pathway to their own success, a natural byproduct is that they serve our clients at a much higher level," Fentress said.
Eight years after joining Keyrenter, Fentress has grown his property management business and become a valuable resource for other franchise owners. He hopes to continue expanding while maintaining a positive workplace culture.
"I want to create an environment where people enjoy coming to work and being around each other," he said. “I want them to feel good about coming to work.”
To find out more information on costs to buy this franchise, please visit https://1851franchise.com/keyrenter.
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