Real Property Management is the largest single-family rental residence management franchise in North America, with over 450 locations across the country. Franchises manage their customers’ properties for them, taking out the hassles of relating to residents, arranging repairs and maintenance, marketing the property, and generally handling the needs of both the building and its occupants. They also deal with the administrative side of property management, which is more onerous than many property owners realize. This includes marketing, tenant screening, inspections, accounting, rent collection, even evictions when they become necessary.
Through taking all this on, franchises help owners to make the most of their property and tenants to live comfortably in the spaces they’re renting. Because franchisees become experts in the field, they’re able to help property owners get the most value out of their properties, which in turn improves the earnings of the franchise. And because Real Property Management is part of the Neighborly family of property-related franchises, franchisees have access to well-refined systems and expertise in the property sector, as well as related brands for cross-marketing and referrals.
In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
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Section II – Initial franchise fee, royalty fee, and marketing fee for a Real Property Management franchise, based on Items 5 and 6 of the company’s 2025 FDD
Section III – Number of franchised and company-owned Real Property Management outlets at the start of the year and the end of the year for 2022, 2023, and 2024, based on Item 20 of the company’s 2025 FDD
Section IV – News updates on the Real Property Management franchise opportunity
Section V – Presentation and analysis of Real Property Management’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2025 FDD, including information on the:
- 2024 average and median number of units managed per franchise; and average, median, highest, and lowest annual revenue per unit for the 55 Real Property Management reporting franchises more than 1 year and less than 3 years old, 330 Real Property Management reporting franchises over 3 years old, and all 385 Real Property Management reporting franchises that were operating for at least 12 months as of December 31, 2024
- 2024 average and median monthly rent charged for the 385 Real Property Management reporting franchises that were operating for at least 12 months as of December 31, 2024
- 2017, 2018, 2019, 2020, 2021, 2022, 2023, and 2024 average, median, highest, and lowest annual revenue per property unit managed by the reporting franchises in each of the years 2017 to 2024
Section VI – Key ratios, comparables, computations, and analyses for the Real Property Management franchise opportunity (exclusive content for Platinum subscribers)
Section I – Real Property Management Franchise Costs
- Real Property Management franchise costs, based on Item 7 of the company’s 2025 FDD:
- Initial Franchise Fee: $59,900
- Marketing: $8,000 to $32,000
- Real Estate/Rent: $2,250 to $9,000
- Vehicle: $3,000 to $5,000
- Insurance: $6,250 to $7,250
- Equipment and Supplies: $2,500 to $5,000
- Training, Travel, Lodging, and Food: $1,000 to $3,000
- Property Management Software: $1,028 to $3,500
- System Technology Fee: $318 to $1,300
- Task Management and Lead Management Software: $300 to $1,200
- Licenses, Permits, and Subscriptions: $750 to $2,000
- Legal and Accounting: $1,500 to $5,000
- Additional Funds (first 12 months): $5,000 to $100,000
- Total Estimated Real Property Management Franchise Costs: $91,796 to $234,150
Section II – Real Property Management’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Real Property Management’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2025 FDD:
- Initial Franchise Fee: $59,900
- License Fee: the greater of (i) 7% of Non-Maintenance Gross Sales, plus 3% of Maintenance Revenues; or (ii) the Minimum License Fee. The Minimum License Fee will be $0 per month for months 1-4; $250 per month for months 5-12; $500 per month for months 13-24; and $1,000 per month thereafter until the end of the term of the Franchise Agreement. In the event a franchisee signs mid-month, the month in which they signed and the following month will be treated as month 1.
- Marketing, Advertising, and Promotion Fee: 2% of Non-Maintenance Gross Sales
- Local Marketing Groups: not to exceed 5% of Non-Maintenance Gross Sales for the previous calendar year
- Minimum Local Marketing Spending: the greater of: (a) $32,000 per calendar year or (b) 5% of Non-Maintenance Gross Sales for the previous calendar year; monthly fees for the Digital Marketing Program are a minimum of $349 per office
Section III – Number of Franchised and Company-Owned Real Property Management Outlets
Franchised
2022
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- Outlets at the End of the Year: 389
- Net Change: +29
2023
- Outlets at the Start of the Year: 389
- Outlets at the End of the Year: 422
- Net Change: +33
2024
- Outlets at the Start of the Year: 422
- Outlets at the End of the Year: 447
- Net Change: +25
Company-Owned
2022
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2023
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2024
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
Section IV – News Updates on the Real Property Management Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Real Property Management Franchise (Item 19, 2025 FDD)
- As of December 31, 2024, there were 447 Real Property Management franchises.
- This Item 19 includes data from 385 franchised businesses, which were all in operation and reporting sales for the entire calendar year 2024.
- The information provided in this Item 19 does not include data from (a) 37 new franchised businesses that opened during the calendar year 2024 and therefore were not in operation for the entire reporting period, (b) 14 franchised businesses that transferred ownership to new owners during 2024 and were not in operation for the entire reporting period, and (c) 11 franchised businesses that failed to report sufficient or reliable data to Real Property Management for the entire 12-month reporting period.
- 12 franchised businesses closed during the 2024 calendar year and so they did not report data to Real Property Management for the entire reporting period and therefore their data is also excluded from this Item 19. Of the 12 franchised businesses that closed during calendar year 2024, none of the businesses closed after being open for less than 12 months.
- “Annual Revenue” as used in the following charts means the sum of the Non-Maintenance Gross Sales and Maintenance Revenues for each franchisee during the fiscal year ended December 31, 2024. Also, because these are Annual Revenue results only, no costs or expenses are taken into account.
- Non-Maintenance Gross Sales include the total revenues and receipts from whatever source (whether in the form of cash, credit, agreement to pay, barter, trade, or other consideration) that arise, directly or indirectly, from the operation of or in connection with a Real Property Management Business whether under any of the Marks or otherwise, including, without limitation, all proceeds from any business interruption insurance, minus Maintenance Revenues.
- Non-Maintenance Gross Sales exclude sales taxes collected from customers and paid to the appropriate taxing authority and any other bona fide refunds, rebates, or discounts that Real Property Management authorizes in writing.
- Maintenance Revenues include all gross revenue derived from repairs and maintenance services to real property or equipment, such as, but not limited to, painting, lawn care, preventative maintenance, cleaning, plumbing, and general repairs to real property or equipment, whether such gross revenue is generated by (i) the franchisee; (ii) any business entity that controls, is controlled by, or is under common control with the franchisee; or (iii) any person or family member of any person with an ownership interest in the franchisee.
- Pass-through expenses, such as costs of outside vendors, may not be deducted from Maintenance Revenues without prior approval from Real Property Management, and must be accounted for through your trust account.
- Maintenance Revenues exclude sales taxes collected from customers and paid to the appropriate taxing authority and any other bona fide refunds, rebates, or discounts that Real Property Management authorizes in writing.
- Monthly reports from franchise owners provide Real Property Management’s only visibility into the financial results of the individual franchise owners’ operations. Neither Real Property Management nor its independent certified public accountants have audited or independently verified any of the data submitted by franchisees. Franchisees are not required to use generally accepted accounting principles when reporting these figures.
- All calculations are based on financial and unit data for the year ended December 31, 2024. This report does not include information about previous periods or any future periods.
- The following charts represent the average and median number of property units and average and median revenue per unit being managed by Real Property Management franchised businesses (“Franchises”). The data is broken down according to the age of the franchised business, based upon the year the franchise was opened.
- The average and median annual revenue per unit data was drawn from the franchisee reports described above. No adjustments, including adjustments for geographic location, have been made to these reported sales.
Part 1 – Reporting Franchises More Than 1 Year and Less Than 3 Years Old
- Total Reporting Franchises More than 1 Year and Less than 3 Years Old: 55
- Average Number of Units Managed Per Franchise: 88
- Median Number of Units Managed Per Franchise: 45
- Average Annual Revenue Per Unit: $5,610
- Median Annual Revenue Per Unit: $5,022
- There are 55 reporting franchises included in this analysis. The actual range of the Annual Revenue per Unit in 2024 was $446.98 to $14,557.97.
- 17 franchises (31%) achieved or exceeded the reported Average Annual Revenue per Unit.
- 29 franchises (53%) achieved or exceeded the reported Median Annual Revenue per Unit.
Average Source of Revenue breakdown:
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- Property Residents (tenants who pay franchisees for background checks, application fees, lease renewal fees, resident benefits packages, setup fees, etc.): 6%
- Property Maintenance (maintenance done on the property): 37%
Part 2 – Reporting Franchises Over 3 Years Old
- Total Reporting Franchises Over 3 Years Old: 330
- Average Number of Units Managed Per Franchise: 311
- Median Number of Units Managed Per Franchise: 162
- Average Annual Revenue Per Unit: $4,543
- Median Annual Revenue Per Unit: $4,252
- There are 330 reporting franchises included in this analysis. The actual range of the Annual Revenue per Unit in 2024 was $465.76 to $26,302.26.
- 133 franchises (40%) achieved or exceeded the reported Average Annual Revenue per Unit.
- 156 franchises (47%) achieved or exceeded the reported Median Annual Revenue per Unit.
- Average Source of Revenue breakdown: Property Owners (46%); Property Residents (6%); Property Maintenance (41%).
Part 3 – All Reporting Franchises
- Total Reporting Franchises Overall: 385
- Average Number of Units Managed Per Franchise: 270
- Median Number of Units Managed Per Franchise: 131
- Average Annual Revenue Per Unit: $4,743
- Median Annual Revenue Per Unit: $4,392
- There are 385 reporting franchises included in this analysis. The actual range of the Annual Revenue per Unit in 2024 was $465.76 to $26,302.26.
- 141 franchises (37%) achieved or exceeded the reported Average Annual Revenue per Unit.
- 182 franchises (47%) achieved or exceeded the reported Median Annual Revenue per Unit.
- Average Source of Revenue breakdown: Property Owners (47%); Property Residents (6%); Property Maintenance (41%).
Part 4 – Average and Median Monthly Rent
- The below table shows the average and median monthly rent charged per unit by the 385 reporting franchises in 2024.
- Total Reporting Franchises Overall: 385
- Average Rent: $1,509
- Median Rent: $1,490
- Calculated as total rent charged on leases/active units managed (including vacancies). Local market rental rates may vary.
- The actual range of the rent was $465.33 to $3,395.52.
- 196 franchises (51%) charged the Average Rent or greater.
Part 5 – Historical Average and Median Annual Revenue per Unit
- The below two tables show the average and median Annual Revenue per property unit managed by the reporting franchises in each of the years 2017 to 2024.
2017
- Average Revenue Per Unit: $2,952
- Total Reporting Franchised Businesses: 233
- Highest Revenue Per Unit: $9,794
- Lowest Revenue Per Unit: $913
- Median Revenue Per Unit: $2,835
- Number and Percentage That Attained at Least Average: 101/43%
2018
- Average Revenue Per Unit: $3,199
- Total Reporting Franchised Businesses: 279
- Highest Revenue Per Unit: $9,874.38
- Lowest Revenue Per Unit: $788.47
- Median Revenue Per Unit: $3,026
- Number and Percentage That Attained at Least Average: 114/41%
2019
- Average Revenue Per Unit: $3,170
- Total Reporting Franchised Businesses: 263
- Highest Revenue Per Unit: $6,658.16
- Lowest Revenue Per Unit: $106.26
- Median Revenue Per Unit: $3,020
- Number and Percentage That Attained at Least Average: 112/49%
2020
- Average Revenue Per Unit: $3,183
- Total Reporting Franchised Businesses: 261
- Highest Revenue Per Unit: $15,204.99
- Lowest Revenue Per Unit: $245.67
- Median Revenue Per Unit: $3,006
- Number and Percentage That Attained at Least Average: 114/44%
2021
- Average Revenue Per Unit: $3,443
- Total Reporting Franchised Businesses: 255
- Highest Revenue Per Unit: $10,166.66
- Lowest Revenue Per Unit: $501.81
- Median Revenue Per Unit: $3,294
- Number and Percentage That Attained at Least Average: 114/45%
2022
- Average Revenue Per Unit: $4,353
- Total Reporting Franchised Businesses: 320
- Highest Revenue Per Unit: $51,643.37
- Lowest Revenue Per Unit: $856.93
- Median Revenue Per Unit: $3,814
- Number and Percentage That Attained at Least Average: 105/33%
2023
- Average Revenue Per Unit: $3,973
- Total Reporting Franchised Businesses: 340
- Highest Revenue Per Unit: $10,364.97
- Lowest Revenue Per Unit: $489.98
- Median Revenue Per Unit: $3,846
- Number and Percentage That Attained at Least Average: 125/45%
2024
- Average Revenue Per Unit: $4,743
- Total Reporting Franchised Businesses: 385
- Highest Revenue Per Unit: $26,302.26
- Lowest Revenue Per Unit: $465.76
- Median Revenue Per Unit: $4,392
- Number and Percentage That Attained at Least Average: 141/37%
- Some outlets have earned this amount. Your individual results may differ. There is no assurance that you will earn as much.
Section VI – Real Property Management Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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