Keyrenter Property Management, a prominent residential real estate franchisor, has announced a significant expansion milestone this summer, awarding 14 new territories and surpassing the 100-location mark since beginning franchising in 2014. The company, which started franchising in 2014, now boasts 101 locations across the United States, with 94 franchisee partners. This rapid growth reflects the robust demand for property management services in the current housing market.
The newly awarded territories span nine states, including Colorado, California, Texas, Florida, Virginia, Illinois, North Carolina, Michigan, and New Mexico. According to Nate Tew, co-founder and CEO of Keyrenter Property Management, this expansion greatly increases the brand's footprint and demonstrates the strength of their business model. Tew also highlighted the appointment of Eric Steward, a franchise industry veteran, as the new Vice-President of Onboarding, who will oversee the integration of new franchisees into the network.
Eric Steward brings over a decade of experience in franchise recruiting, having previously worked at Pillar to Post, where he rose from marketing coordinator to senior director of franchise recruiting. His expertise in the residential real estate space makes him a valuable addition to Keyrenter's leadership team. Steward expressed enthusiasm about joining the company, noting that the recent awarding of over a dozen new locations provides an exciting opportunity to contribute to the brand's growth.
The expansion comes at a time when the residential property management industry is thriving. There are approximately 25 million single-family rental (SFR) units in the United States, with only 4% being institutionally owned. This fragmented market offers significant opportunities for independent franchisees. External factors such as high mortgage interest rates, a tight lending environment, and an increasing renter-to-buyer ratio continue to drive demand for rental properties, making property management a recession-resistant business venture.
Keyrenter Property Management, founded in 2007 in Midvale, Utah, offers a range of services including rent collection, maintenance, and tenant placement. The franchise model provides recurring monthly revenue and generous territorial boundaries, making it an attractive option for entrepreneurs. With the addition of Eric Steward and the recent surge in new territories, Keyrenter is well-positioned to continue its growth trajectory.
For more information about becoming a Keyrenter Property Management franchisee, interested parties can visit https://franchising.keyrenter.com.
