Keyrenter Property Management: Revolutionizing Residential Property Management

Established in 2007 in Midvale, Utah, Keyrenter Property Management has swiftly become a prominent name in the residential property management industry. The company offers comprehensive services designed to provide cost-effective and stress-free solutions for property owners and investors. Leveraging cutting-edge proprietary systems and technology, Keyrenter streamlines operations to maximize property value and efficiency.

In 2014, Keyrenter began franchising to empower entrepreneurs and real estate professionals to establish their own successful property management businesses. The franchise model provides a unique opportunity to enter the booming rental market, with millions choosing to rent rather than buy.

What sets Keyrenter apart is its commitment to innovation and efficiency. The company utilizes automated systems to handle daily tasks such as tenant screening, maintenance, and data entry, allowing franchise owners to manage larger property portfolios with minimal staff.

Training

Keyrenter Property Management provides a comprehensive training program for its franchisees, encompassing various stages and requirements. The training includes the following:

1. Initial Training Program:
   • This program is mandatory for the Designated Owner or Designated Manager and includes material aspects of running the franchised business. Training topics such as branding, marketing, and operational standards are covered, with a fee of $5,000 for up to two persons and additional charges for more attendees.
2. Pre-Onboarding Phase:
   • A task-focused onboarding program begins once the franchisee has obtained the necessary licenses. This includes remote sessions on topics like local licensing, business entity setup, branding, and Appfolio software orientation.
3. State-Specific Real Estate Training:
   • Franchisees must complete property management training from a state-certified provider to understand regulations such as rental income and security deposits. This training is at the franchisee's expense.
4. Additional and Refresher Training:
   • Periodic training programs may be offered, and attendance could be mandatory or optional. Additional fees apply for such sessions.
5. Remedial Training:
   • If operational deficiencies are identified, the franchisor may require franchisees and staff to undergo remedial training at the franchisee's expense.
6. Onboarding Support:
   • Support is provided to help franchisees locate real estate brokers, at no additional cost.
7. Conferences and Networking:
   • Franchisees may be required to attend regional or national conferences to discuss business issues, with associated attendance fees.
8. Training for New Managers:
   • If the Designated Manager is replaced, the new manager must complete the initial training program.

Territory Protection

Keyrenter Property Management grants franchisees exclusive territorial rights, ensuring no other Keyrenter outlet operates within a five-mile radius of their approved location, provided performance and compliance requirements are met. This protects the franchisee’s market and operational area.

However, Keyrenter retains the right to manage properties within the territory, operate unrelated businesses under different trademarks, and allow cross-territory management under its policies. These provisions balance franchisee exclusivity with franchisor flexibility.