Property Management Inc. Ends 2021 with Record 75+ Signings, Plans to Sign 100 More in 2022

Property Management Inc., the property management franchise with locations coast to coast, reported more than 75 franchise signings in 2021, making way for the opening of 93 new franchise territories. The brand now holds $30 billion in assets under management and manages over 100,000 properties. 

“This past year was a record year for our company in many ways,” said Steve Hart, chief executive officer at Property Management Inc. “In what should have been a slower year as we still navigated the pandemic, a lot of franchise candidates expressed interest in our recession-resistant, COVID-resistant business model. People need places to live, and property owners need us to manage those rental properties.” 

To expand its portfolio even further, Property Management Inc. launched what is called PMI Realty, a program that trains franchisees in property brokerage. “A lot of our franchisees already hold real estate licenses and are involved in a lot of real estate transactions, so it only made sense to roll out a program that allows our franchisees to become real estate agents and further expand their opportunity to secure clients,” said Hart. 

This program is included in the franchise agreement and comes at no additional cost to the franchisee. 

Following its success in 2021, Property Management Inc. continues to be one of the fastest-growing top 100 franchises in the U.S.

“We want to be a leader in the property management industry and become a household name,” said Hart. “We have close to 400 franchisees now, and although we are still considered a small brand, we are starting to make an impact in the property management industry with locations in 47 of 50 states and franchisees in every major city — we can be found coast to coast.”

He continued, “The goal is to exceed what we accomplished last year. We offer a recession-resistant business model that allows new franchisees to work out of their homes as they get their footing while keeping overhead and initial investment costs low.” 

As Property Management Inc. looks forward to the state of the property management industry in 2022, Hart said that he is looking for a bit of a slow down in the real estate market. 

“Even in a year where home sales were chart-topping, we still had a record-breaking year for signing properties,” he said. “We’re expecting home sales to mellow out in 2022 and for fewer property owners to want to liquidate their assets in a hot real estate market.”

How Property Management Inc. is Preparing for Continued Domestic Growth and Aims for International Expansion

Hart said Property Management Inc. has set some big goals for the coming year and will be looking to expand not just domestically but also internationally, including in Canada and other popular destinations.

“We’re planning for international expansion in 2022,” said Hart. “We’re already in places like the Dominican Republic, Puerto Rico, Malta and Costa Rica, but we want to secure more popular international destinations with master franchisees who are qualified and experienced property management and real estate professionals.” 

As Property Management Inc. continues to grow domestically as well, Hart said that the key to this expansion will be securing national partnerships with investors and property owners who have a national footprint.

“We are the largest property management company in the country and currently manage more properties than any other brand,” said Hart. “We would like to build partnerships with other companies and investors who own properties and offer them boots-on-the-ground management solutions. As the only brand who can offer that kind of solution, we’re ready to start making an impact on the property management industry in 2022.”

There isn’t one specific market that Property Management Inc. is targeting for the new year, as there is opportunity in all markets. Destination states like those in the Sun Belt are always a hot spot for property management, as residents tend to be seasonal and rent the properties out when they aren’t there. Property Management Inc. isn’t just looking for expansion opportunities in popular vacation states for short-term rentals; the brand is also looking to grow in areas that aren’t hugely popular with tourists as well as places that offer commercial property rentals and association management.

“Franchisees don’t need to focus only on residential property management,” said Hart. “We offer four pillars of property management including residential, commercial, association and short-term rentals. Franchises have the ability to do commercial property management and even association management if they prefer.”

Hart said that many new franchisees may want to seize the opportunity to specialize in management properties that are part of a homeowners association, which often lack quality management.

“It’s an up-and-coming sector — there are several communities that are now going to associations, and it’s a large market offering opportunities for franchisees,” said Hart. 

Whether it’s a major metropolitan area or a small town, Hart said there is a need for quality property managers everywhere. In fact, some of the brand’s most successful franchisees are those who live in less populated areas. “These franchisees are able to come into these communities and roll out our services, allowing them to dominate the management market in smaller areas pretty quickly,” he said.

Property Management Inc.’s vast experience in property management as well as real estate makes it a prime opportunity for those who may already own a mom-and-pop rental company in a small town. 

“We want to show property managers in smaller areas that there is a better and easier way to handle their responsibilities when they partner with us,” said Hart. “Co-branding opportunities are available that will allow them to grow their business with better marketing, branding and better systems, coaches and trainers.”

Property Management Inc. plans to continue helping property owners lease out their spaces with the help of management by a nationwide network of franchisees.

The startup costs for a Property Management Inc. franchise range from $53,225 to $190,050. The franchise fee ranges from $45,000 to $190,050. To learn more about franchising with Property Management Inc., visit https://propertymanagementincfranchise.com/.