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REAL PROPERTY MANAGEMENT
Real Property Management franchises enable operators to provide comprehensive property management services, including tenant screening and placement, leasing, rent and fee collection, maintenance and repair management, evictions, accounting, and marketing for single and multi-family residential properties, commercial properties, REO properties, vacation rentals, and common interest communities. The business model revolves around granting licenses to use the Real Property Management System, marks, and operational standards in designated metropolitan areas with populations typically over 100,000 and significant single-family rental stock. The target market consists of property owners and investors seeking professional management solutions in these areas.
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Franchise Costs
7% royalty + 2% ad fund + $606-$2000/mo technology, software & bookkeeping (system tech $106, task/lead $100, BackOffice $400 min + variables)
Financial Performance
Item 19 Financial Performance
Data Based On: 385 franchised businesses, which were all in operation and reporting sales for the entire calendar year 2024.
* Average and Median Annual Revenue per Unit for 2024 were taken directly from the 'Total Reporting Franchises Overall' section on page 3 and confirmed by the 'Historical Average and Median Annual Revenue per Unit' table on page 4. The document explicitly states how these overall averages are calculated (average of individual business averages). Although segmented data by business age was available ('More than 1 Year and Less than 3 Years Old' and 'Over 3 Years Old'), the overall figures were prioritized as per instructions for directly provided overall averages. No explicit gross profit, net income, net profit, or EBITDA figures were found, nor was sufficient expense data provided to estimate a profit range. Quartile revenue figures were not explicitly provided, as the available segments were based on the age of the business rather than performance quartiles.
Extracted Item 19 Section
Avg. Revenue: $4,743
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Unlock financial performance dataREAL PROPERTY MANAGEMENT Franchise Analysis
Single-family rentals are exploding as investors seek passive income, positioning property management as a lucrative franchise niche—and Real Property Management has carved a foothold since 2005 under the Neighborly banner. Item 19 delivers revenue snapshots while SBA financing stats reveal entry accessibility, yet a smattering of terminations and litigation clouds the picture. Does this system's metropolitan focus yield the portfolio scale needed for big returns, or is it a grind to break through the pack?
Item 7 in the 2025 FDD pegs total initial investment at $91,796-$234,150, front-loaded with a $59,900 franchise fee for exclusive metro areas over 100,000 population rich in rentals. Monthly outflows hit 7% royalty on gross revenues, 2% ad fund, plus $606-$2,000 for tech, software, and BackOffice services—adding up to a lean but tech-heavy model. Item 19 shines a light on performance: average gross revenue clocks $4,743 per unit with a median $4,392, underscoring that top earners likely manage hefty property portfolios while laggards scramble; annualizing suggests $50K-$60K scale, demanding aggressive tenant placement and maintenance upsell to hit stride.
System vitality looks solid with 447 locations (up 6% from 422 in 2023) and 28 projected openings, fueled by 14 transfers but tempered by 11 terminations. SBA records impress: 99 loans averaging $281,502 and a scant 3% default rate signal bank buy-in for this real estate services play. Litigation is minimal—one settled franchisee suit alleging fraud and breach (ending in termination and buyback), plus a 2024 franchisor action against owners—barely a blip in a 447-unit network, hinting at stability for buyers chasing rental market tailwinds in residential, commercial, and vacation segments.
Analysis based on the 2025 Franchise Disclosure Document. All figures should be independently verified before making investment decisions.
How REAL PROPERTY MANAGEMENT Compares
Key Insights
- Top 10 largest franchise system in Real Estate Services
| Franchise | Investment | Fee | Royalty | Locations |
|---|---|---|---|---|
REAL PROPERTY MANAGEMENT Current | $92K – $234K | $60K | 7.0% | 447 |
| CENTURY 21 REAL ESTATE | $33K – $279K | $25K | 6.0% | 1,807 |
| HOMEVESTORS | $150K – $477K | $85K | 3.0% | 981 |
| KELLER WILLIAMS REALTY - REGIONAL REPRESENTATIVE | $131K – $424K | N/A | N/A | 794 |
| PILLAR TO POST INC | $103K – $134K | $59K | 7.0% | 350 |
| WIN HOME INSPECTION BUSINESS | $41K – $50K | $21K | 7.0% | 247 |
Real Estate Services Average 24 franchises | $154K – $300K | $46K | 7.2% | – |
* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 24 Real Estate Services franchises by location count.
Locations & Growth
Outlet Growth Over Time
Total outlets at end of each year
Geographic Distribution (2024)
Outlets by state across the United States
+36 more states
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Unlock location growth dataSBA Loan History
Historical SBA 7(a) loan data for REAL PROPERTY MANAGEMENT franchisees (2015 – 2025)
Loans by Year
SBA 7(a) loan activity over time
* Data sourced from SBA 7(a) FOIA loan records. Default rate calculated from charged-off loans.
99 SBA loans on record
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Unlock SBA loan historyFranchisee Contacts
416 franchisee contacts on file from official FDD filings.
416 Contacts Available
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Unlock contactsDue Diligence
Litigation (Item 3)
One franchisee lawsuit alleging breach of contract, fraud, and franchise law violations (settled with termination and buyback); one unspecified lawsuit initiated by franchisor against franchisees in fiscal year 2024.
Bankruptcy (Item 4)
System Health (Item 20)
Franchise system changes reported in the most recent fiscal year
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Unlock due diligence reportsFrequently Asked Questions
The total initial investment to open a REAL PROPERTY MANAGEMENT franchise ranges from $91,796 to $234,150. This includes a franchise fee of $59,900. Ongoing royalty fees are 7.0% of gross sales.
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