Property Management Business Explodes Along with "Renter Nation" Movement
Real Property Management Franchise Booms with Rise in Renters, Accidental Landlords
June 13, 2013 // Franchising.com // SALT LAKE CITY, Utah – Since the U.S. housing market crashed in 2008, the number of households that rent versus own has jumped to a whopping 38 million, and that number is expected to steadily rise to 41 million in the next two years, according to the U.S. Census Bureau. The data shows that renter-occupied housing makes up nearly 34 percent of U.S. households overall, reaching up to nearly 70 percent in some major cities.
In addition, with housing prices still depressed, a staggering number of Americans are finding themselves in the position of “accidental landlord” – either having been forced to relocate for a job and unable to sell their house, or, in some cases, they moved to a new home, but are holding on to their previous house in hopes that prices will miraculously rebound before they decide to sell.
This U.S. rental rush has created a goldmine of opportunity for the property management industry.
An increasing number of unintentional landlords are gladly giving up a percentage of their monthly rent to get professionals help to deal with all kinds of responsibilities, including screening potential tenants, collecting rent, evictions, dealing with complaining neighbors, maintenance issues and code violations.
In fact, companies such as Real Property Management has doubled in size over the past two years, growing to more than 230 offices in 47 states and managing assets worth more than $5 billion. Anchoring itself as the nation’s leading residential property management company, and the only property management franchise with a national footprint, Real Property Management is opening an average of eight new franchises per month. Plans call for adding 60-80 new offices in 2013, and more than 100 offices annually moving forward.
“Profound changes in the housing market have created significant demand for property management companies like ours,” said Kirk McGary, CEO of Real Property Management. “Our franchise continues to grow along with the number of renters, and it doesn’t look like that’s changing anytime soon.”
For over a quarter century, Real Property Management has completely re-engineered the business of property management, delivering an end-to-end, seamless solution for clients seeking reliable and predictable returns on their real estate investment. Through its proprietary, web-based property management platform, Real Property Management specializes in managing single-family homes, townhomes, condos, multi-plexes and apartment complexes up to 125 units.
The company’s rental management services include marketing the property, finding reliable tenants, completing the lease agreement, collecting rent, maintaining the property and grounds, and arranging for any necessary repairs on a 24-hour basis. Real Property Management also manages the legal compliance for both state and federal real estate law.
In an extremely fragmented segment made up mostly of independent mom-and-pop property managers, Real Property Management provides a level of expertise and benefits that are impossible to obtain from small firms that simply don’t have the resources or technology to deliver best in class service that investors expect. “Today’s investors have a property portfolio that spans the nation,” McGary said. “Our national footprint, focus on best practices and extensive experience allows us to appropriately provide services for such a portfolio.”
But when asked what truly sets the company apart from others, McGary points to a culture rooted deeply in integrity. Just as tenants are screened for character and their ability to afford rent, Real Property Management continues to carefully screen each franchisee and employee to ensure the highest code of ethics is maintained.
“Our mantra is, 'When in doubt, always do what’s right,’” he said. “That never fails.”
About Real Property Management
Real Property Management is a privately held, Utah based corporation with over 25 years of experience providing full-service residential property management for investors and homeowners throughout the United States and Canada. For more information about Real Property Management, property management services or franchising opportunities, visit www.realpropertymgt.com.
SOURCE Real Property Management