More than one-third of U.S. households rent their homes. That figure translates into over 42 million households and nearly 101 million people living in rental housing. As homeownership rates shift and the rental market expands, the demand for trusted property managers continues to rise. Real Property Management (RPM), a Neighborly® company, offers a compelling franchise opportunity designed to place entrepreneurs at the center of this growing sector.
In this article, we explore how Real Property Management became the largest single-family residential property management franchise in North America, what makes its model operationally scalable, and how its support systems are structured to help franchisees build sustainable businesses.
This article is sponsored by Real Property Management. The content has been created in partnership with the brand to provide insights into its business model and franchise opportunities.
A Legacy of Leadership and Scale.
Founded in 1986 by Kirk McGary in Salt Lake City, Utah, Real Property Management began as a personal venture to oversee rental homes. Franchising officially launched in 2005 with co-founder Doug Oler, and since then, the brand has grown to manage tens of thousands of properties across more than 450 locations throughout the U.S. and Canada.
In 2018, Real Property Management joined the Neighborly family of brands, expanding its national footprint and providing franchisees with access to enterprise-grade systems and support. RPM has been recognized by Entrepreneur, Forbes, and Franchise Business Review for excellence, innovation, and franchisee satisfaction—highlighting its commitment to training, ethical business practices, and digital tools.
Investment Snapshot: Startup Costs.
Upfront budgeting helps owners avoid surprises and set realistic timelines. The figures below come from the brand’s current FDD and are intended as a planning framework you’ll validate with the franchisor and your advisors.
Estimated Initial Investment (per current FDD)
| Type of Expenditure | Low Estimate* | High Estimate* |
|---|---|---|
| Initial Franchise Fee | $59,900 | $59,900 |
| Marketing | $8,000 | $32,000 |
| Real Estate/Rent | $2,250 | $9,000 |
| Vehicles | $3,000 | $5,000 |
| Insurance | $6,250 | $7,250 |
| Equipment and Supplies | $2,500 | $5,000 |
| Training, Travel, Lodging, and Food | $1,000 | $3,000 |
| Property Management Software | $1,028 | $3,500 |
| System Technology Fee | $318 | $1,300 |
| Task/Lead Management Software | $300 | $1,200 |
| Licenses, Permits, Subscriptions | $750 | $2,000 |
| Legal & Accounting | $1,500 | $5,000 |
| Additional Funds (12 months) | $5,000 | $100,000 |
| TOTAL | $91,796 | $234,150 |
Use these ranges to frame conversations with the franchisor, your lender, and your advisors. Your final budget should reflect your local market, staffing plan, and ramp‑up strategy.
A Business Model Built for Today.
Real Property Management franchisees oversee the management of single-family homes, townhomes, condos, small apartments, and multiplexes. Core client services include:
- Tenant screening and placement.
- Lease execution.
- Rent collection.
- Maintenance coordination.
- Legal compliance and eviction assistance.
This turnkey service model allows property owners to delegate operational burdens, while franchisees focus on delivering efficient, professional experiences. Notably, RPM franchisees typically function in an executive leadership role—managing client relationships and business operations rather than performing property management tasks themselves.
Why Property Management? Why Now?
The U.S. rental market continues to show strength. According to iPropertyManagement, approximately 34.5% of U.S. households rent, with long-term tenancy favored due to affordability constraints and shifting demographics. The rise in remote work has also spurred suburban rental demand.
Property management services often remain in demand regardless of economic conditions, as real estate investors require reliable oversight of their properties in both strong and weak markets. IBISWorld reports that property management helps businesses reduce internal costs by outsourcing non-core functions—a factor in the industry’s continued stability.
What Makes RPM a Franchise Standout
Franchisees are drawn to Real Property Management for its combination of operational simplicity and brand support. Key attributes include:
- Recurring Revenue Potential: The model supports ongoing service relationships with property owners.
- Small Footprint, Low Overhead: Many offices operate in ~500 sq. ft. and require minimal inventory.
- Resilient Business Model: Property oversight remains a critical service in varied economic climates.
- No Industry Experience Needed: RPM provides comprehensive training and tools.
- Technology-Driven Operations: Franchisees leverage proprietary platforms for marketing, lead tracking, and compliance.
- Veteran-Friendly: Through VetFran, qualified veterans receive incentives and onboarding support.
Training, Support, and Vendor Access
New franchisees benefit from RPM’s Sure Start™ training program, which includes guided onboarding, systems training, and ongoing mentorship from Franchise Business Coaches.
As part of the Neighborly network, RPM owners gain access to ProTradeNet®, a vetted vendor program offering volume discounts on services like tenant screening, insurance, marketing platforms, and more. In 2023, Neighborly franchisees collectively reported significant savings through ProTradeNet, based on group purchasing power.
Frequently Asked Questions (FAQ) About the Real Property Management Franchise.
Here are concise answers to common questions prospective owners ask.
Q1: Do I need a background in real estate to open a Real Property Management franchise?
A: No. Real Property Management is designed to be accessible to entrepreneurs from all backgrounds. Franchisees receive in-depth training, support, and access to proprietary systems to ensure they are prepared to run a successful property management business—no prior real estate experience is required.
Q2: What kind of support will I receive as a franchisee?
A: Franchisees benefit from RPM’s Sure Start™ onboarding program, ongoing mentorship from Franchise Business Coaches, and access to ProTradeNet®, a vendor network with exclusive discounts. You’ll also receive help with marketing, compliance, and operational best practices.
Q3: How big does my office need to be, and can I work from home?
A: Many RPM franchisees begin operations from a small office footprint of around 500 square feet. While it’s not a home-based business, the model is designed to minimize overhead with limited space and inventory requirements.
Q4: Is this business model recession-resistant?
A: Property management is considered economically resilient because it delivers essential services to rental property owners regardless of market cycles. Tenants need homes, and property owners need reliable oversight—making the business more stable during economic downturns.
Q5: What territories are available?
A: Real Property Management continues to expand throughout major and secondary markets in North America. Availability varies, so it’s best to connect with the Franchise Brokers Association to determine what’s open in your area.
Q6: What is the initial investment range?
A: Based on the 2024 Franchise Disclosure Document, the total estimated startup costs range from $91,796 to $234,150, depending on your location and business decisions. This includes your franchise fee, training, technology systems, marketing, and working capital.
Q7: How do franchisees make money in this business?
A: Franchisees typically charge a property management fee for services such as tenant placement, rent collection, and maintenance coordination. For detailed performance data, always refer to the Franchise Disclosure Document (FDD).
Q8: Are there discounts for veterans?
A: Yes. Real Property Management participates in VetFran, a program that offers franchise fee discounts and special incentives for qualified military veterans looking to start a business.
Your best next step is a discovery call to align territory, support expectations, and timeline.
Is This Franchise the Right Fit for You?
Real Property Management offers an executive franchise model supported by a household brand, technology-driven tools, and operational simplicity. With the backing of Neighborly and access to robust training and vendor resources, franchisees gain a strong foundation to build a service-oriented business within the growing rental economy.
Whether you’re exploring your first franchise or looking to diversify into a stable, systems-based business, Real Property Management offers the infrastructure, brand recognition, and support network that modern entrepreneurs value.
The Franchise Brokers Association is here to help guide your discovery journey. We offer personalized support as you evaluate franchise opportunities like Real Property Management and determine the right fit for your goals. Explore your options today.
