Keyrenter Property Management, a leading residential real estate franchisor, has announced a significant milestone: the establishment of its 100th location since beginning franchising in 2014. The company has awarded 14 new territories this summer, with five candidates preparing for Discovery Day sessions as early as next week. New locations span Colorado, California, Texas, Florida, Virginia, Illinois, North Carolina, Michigan, and New Mexico.
This expansion highlights the robust demand for property management services in the current housing market. With mortgage interest rates remaining stubbornly high and a tightening lending environment, many individuals are turning to rental properties. According to industry estimates, there are approximately 25 million single-family rental units in the U.S., but only 4% are institutionally owned, leaving a vast market for independent operators. This trend has made residential property management an attractive investment for entrepreneurs.
To support this growth, Keyrenter has appointed Eric Steward, CFE, as Vice-President of Onboarding. Steward brings over a dozen years of franchising experience, having previously worked at Pillar to Post in various recruiting roles, culminating as senior director of franchise recruiting. His expertise in the residential real estate space is expected to streamline the onboarding process for new franchisees.
“On behalf of the brand and all of our valued stakeholders, we’re pleased to announce the awarding of these 14 new territories,” said Nate Tew, co-founder and CEO of Keyrenter Property Management. “Not only does this greatly expand our brand’s footprint, but we’ve also surpassed a significant milestone of establishing more than 100 franchise locations coast-to-coast. We’re also honored to have Eric Steward join us here at Keyrenter Property Management, who will be overseeing all activities from signed franchise agreements through the rest of the onboarding process for our growing network of franchisee partners.”
Steward expressed enthusiasm about his new role: “Joining the team of an industry leading brand like Keyrenter is a dream come true opportunity. The fact that they also operate in the residential real estate space where I have direct category experience is a plus and I hope to make several meaningful contributions in my new role as the head of onboarding activities. With the recent awarding of over a dozen new locations, I have my work cut out for me, but I can’t wait to roll up my sleeves and get started.”
Founded in 2007 in Midvale, Utah, Keyrenter began franchising in 2014 and now boasts 94 franchisee partners representing 101 locations. Franchisees provide essential services such as rent collection, maintenance, and tenant placement. The company’s business model, which relies on recurring monthly revenue, has proven resilient even in economic downturns, making it an appealing opportunity for investors.
The recent surge in franchise signings reflects a broader trend in the residential real estate industry. High mortgage rates have pushed many potential homebuyers into the rental market, increasing demand for professionally managed properties. Additionally, the scarcity of institutional ownership in single-family rentals suggests ample room for growth for independent property management firms. These factors are likely to continue driving interest in Keyrenter’s franchise opportunities.
For those interested in learning more about franchising with Keyrenter, more information is available at franchising.keyrenter.com.
