Start a Real Property Management Franchise in 2025

2025 Franchise 500 Rank: #85 Ranked #112 last year

Initial investment: $92K - $234K

Units as of 2025: 448 12.3% over 3 years

Founded in 1986, Real Property Management is one of the largest single-family property franchises in the U.S. real estate industry. With efforts put in by franchises like these, the real estate industry has become a fast-growing sector in the U.S. economy.

After beginning to franchise in 2004, Real Property Management keyed into the growing rental sector with franchisees across America. They offer third-party property management services for single-family and condominium homeowners and company housing for large firms. The company also provides services that include the maintenance and repair of real estate, rent collection, and management.

Real Property Management has over 300 locations across the United States and a handful in Canada. They are looking to continue to grow.

Why You May Want to Start a Real Property Management Franchise

Real Property Management is one of the most decorated and largest real estate management franchises in the U.S. The success of the franchise relies on the strength and success of the property management industry. A decent chunk of residential buildings in the country are rentals. The demand for rent management companies means Real Property Management could offer a stable franchise opportunity.

Many times in the past decade, Real Property Management has been ranked in Entrepreneur’s Franchise 500 based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.

What Might Make Real Property Management a Good Choice?

Real Property Management thrives on the property management industry, its leadership position in the industry, world-class support, and nationwide franchise opportunities. The franchise also provides training, professional marketing, and volume purchasing power to its franchisees.

Suppose your net worth and available liquid capital match the brand’s requirements. In that case, you may qualify to open a Real Property Management franchise. You should be prepared for an initial investment made up of a franchise fee and other startup costs. In addition, you will be subjected to ongoing fees, including royalty fees, advertising fees, and potential renewal fees. The average term of agreement for a Real Property Management franchisee is ten years with the opportunity to renew for a sum if both parties wish to remain in business together.

Real Property Management has partnered with third-party sources to help franchisees cover the franchise fee, startup costs, inventory, equipment, and payroll.

How to Open a Real Property Management Franchise

Before accepting the franchise agreement, you'll be given the opportunity to review details for available franchise opportunities and contact existing franchisees, who may answer any questions you may have. There may also be an opportunity to attend a discovery day at company headquarters in Salt Lake City, Utah. A team of professionals will be waiting to answer any questions you may have regarding franchise operations.

Once you've accepted the franchise agreement and paid the applicable fees, you'll complete a multi-week training intensive at your chosen location, followed by a multi-day hands-on session at the company headquarters. After that, your property management franchise will be ready to open. You will receive continued support from the Real Property Management company as you go about your new life as a Real Property Management franchisee.

Company Overview

About Real Property Management

Industry	Business Services
Related Categories	Property Management, Real Estate , Miscellaneous Maintenance Businesses, Miscellaneous Services
Founded	1986
Parent Company	Neighborly
Leadership	Jeff Pepperney, Brand President
Corporate Address	1010 N. University Parks Dr. Waco, TX 76707
Social	Facebook, Twitter, LinkedIn, YouTube

Business Overview

Franchising Since	2004 (21 years)
# of employees at HQ	1,100
Where seeking	This company is offering new franchises in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming
# of Units	448 (as of 2025)

Information for Franchisees

Here's what you need to know if you're interested in opening a Real Property Management franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$59,900
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$91,796 - $234,150
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$250,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$50,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	15% off franchise fee
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	7%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	2%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	10 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

In-House Financing	Real Property Management offers in-house financing to cover the following: franchise fee
Third Party Financing	Real Property Management has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training	256.5 hours
Classroom Training	42 hours
Ongoing Support	Purchasing Co-ops Newsletter Meetings & Conventions Toll-Free Line Grand Opening Online Support Security & Safety Procedures Field Operations Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates Regional Advertising Social Media SEO Website Development Email Marketing Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	No
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
# of employees required to run	1-3
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	No