Real Property Management Franchise FDD, Costs & Fees (2024)
KEY FRANCHISE STATS
All you need to know about this franchise in a snapshot
Initial franchise fee
$59,900
Investment required
$92,000 - $266,000
Real Property Management: Leading the Way in Residential Property Management
Real Property Management (RPM) stands as the largest residential property management franchise organization in North America, managing tens of thousands of properties for individuals, investors, and institutions across the country.
Founded over 35 years ago by entrepreneurs Kirk McGary and Doug Oler, RPM has grown from a single property management business into a vast network of independently owned and operated offices nationwide.
In 2005, McGary and Oler launched their first franchised office, marking the beginning of RPM's expansion across the United States and Canada. Today, with more than 450 locations, RPM offers professional property management services, including tenant screening, leasing, maintenance, and evictions.
What sets Real Property Management apart is its commitment to delivering peace of mind to property owners by protecting their investments, minimizing costs, and maximizing income without interrupting daily life.
Initial investment
Here's what you would need to invest if you were to start this franchise. These costs are provided by the franchisor in the Franchise Disclosure Document.
| Type of Expenditure |
Amount |
| Initial Franchise Fee |
$59,900 |
| Marketing |
$8,000 – $8,000 |
| Real Estate/Rent |
$2,250 – $6,000 |
| Vehicle |
$3,000 – $5,000 |
| Insurance |
$6,250 – $7,250 |
| Equipment and Supplies |
$2,500 – $5,000 |
| Training, Travel, Lodging and Food |
$1,000 – $1,500 |
| Property Management Software |
$1,028 – $1,028 |
| System Technology Fee |
$240 – $240 |
| Task Management and Lead Management Software |
$300 – $300 |
| Licenses, Permits, Subscriptions |
$750 – $2,000 |
| Legal & Accounting |
$1,500 – $5,000 |
| Additional Funds (first 12 months) |
$5,000 – $175,000 |
| Total |
$92,000 – $266,000 |
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Franchise Disclosure Document
Training
Real Property Management provides comprehensive training to its franchisees to ensure they deliver high-quality services. This training encompasses several key areas:
- Property Management Fundamentals: Franchisees receive instruction on essential property management practices, including tenant relations, lease agreements, property maintenance, and legal compliance. This foundational knowledge is crucial for effective property management operations.
- Marketing and Lead Generation: Training includes strategies for attracting property owners and tenants, utilizing both traditional marketing methods and digital platforms. This equips franchisees with the skills to effectively promote properties and services.
- Technology Integration: Franchisees are trained to use proprietary software and other technological tools designed to streamline operations, manage client interactions, and maintain accurate financial records. Proficiency in these tools enhances efficiency and service quality.
- Business Operations and Growth: The training program covers business management aspects such as financial planning, human resources, and strategies for scaling the business. This comprehensive approach prepares franchisees to successfully manage and expand their operations.
Territory Protection
Real Property Management offers franchisees a designated territory with limited protection. Typically, this territory covers a population exceeding 100,000 people.
However, the franchisor reserves the right to establish or operate additional businesses in the same area, as long as there is no more than one additional location per 100,000 persons.
This arrangement provides franchisees with a substantial market while allowing strategic brand expansion. Prospective franchisees should carefully review the Franchise Agreement to fully understand the specifics of their territorial rights and any limitations. This ensures clarity and helps in planning business operations effectively.
