--- title: "Property Management Inc. on Track to Hit 100 New Locations Open By Year’s End" url: https://burnaze.com/article/1c247d1d-3978-4cb9-92f2-312b4f83a528 source: "1851 Franchise" original_url: https://1851franchise.com/property-management-inc-on-track-to-hit-100-new-locations-open-by-years-end-2719464 category: "Real estate" industry: "Business Services" segment: "Real estate" topics: ["Development & multi-unit"] published: 2022-08-22T07:02:17.000Z modified: 2026-11-01T02:10:39.301Z image: https://newimage.1851franchise.com/cdn-cgi/image/quality=85,format=webp,width=1280,height=720/story/featureImage/4310c729f80e9c27d7e239b1415874b54774.jpg --- # Property Management Inc. on Track to Hit 100 New Locations Open By Year’s End **TL;DR:** Property Management Inc. is on track to open 100 new locations by the end of 2022, with a portfolio of over $50 billion in managed assets. The company has experienced impressive growth, with 45 openings so far this year, and aims to continue expanding through new franchise agreements and acquisitions. *originally published in 1851 Franchise on 2022-08-22. [Read the original](https://1851franchise.com/property-management-inc-on-track-to-hit-100-new-locations-open-by-years-end-2719464).* ## Key facts - PMI aims to open 100 new locations by year's end - PMI will manage $50 billion in assets by year's end - PMI's HOA units grew from 1,000 to 100,000 since 2015 ## Story Property Management Inc. (PMI), the nation’s number one property management franchise, has experienced impressive growth so far this year. The nearly 400-unit brand continues to expand to more regions across the country and add more properties to its portfolio. The franchise has celebrated 45 openings so far this year, putting PMI at just about halfway to reaching the company goal of 100 additional units open by the close of 2022. If that is achieved, PMI will then have over 400 franchise locations. PMI’s franchise system growing in size also means its portfolio is increasing. By year's end, the brand will have about $50 billion in managed assets. ## Market trends There are also a number of happenings in the housing industry right now that have made the property management business a lucrative one to be in, explained Steve Hart, CEO. “Inflation hit a 40-year high, creating a unique rental housing situation throughout the entire United States. Rental supply is experiencing record lows,” explained Hart. “We've never really seen a hotter rental market in our country's history, with very low vacancies. That's great for property managers to have all our properties filled up.” As for where prices will go, “no one really knows,” says Hart, but some experts project rates may increase another percent in the next few weeks. Others in the industry project that rates are capping. In any case, franchisees and those who convert their business to a PMI have a network of support and guidance from the brand’s many market specialists and its four pillars of service. “There are a lot of realtors wondering if real estate sales will stop or go backward and how they will get paid. We'd love to work with these realtors and help them pick up an additional revenue stream by doing property management with us,” explained Hart. “Our goal is to be known as the brand that consolidated the industry.” ## Service growth areas PMI has also had monumental growth in its HOA and association management sector. In 2015, the brand had 1,000 HOA units; by the end of this year, the company will be at 100,000. It’s PMI’s second most popular service, and there is plenty of room for growth with not much competition in the association management sphere, Hart said. The vacation rental pillar offered by PMI also provides a great stream of revenue for franchisees to count on. Travel is picking up more and more post-pandemic, and nightly rates are increasing, which is great for property managers. As for the remainder of the year, the team at PMI is focused on continuing the brand’s growth through new franchise agreements and acquisitions. “With close to 400 franchise office locations throughout the U.S., we have more boots on the ground and cover a larger footprint than anyone. New franchisees recognize that by partnering with PMI, we can help them elevate their offering and compete at a higher level in their market rather than just going it alone,” Hart said. *The startup costs for a Property Management Inc. franchise range from $53,225 to $190,050. The franchise fee ranges from $45,000 to $190,050. To learn more about franchising with Property Management Inc., visit* * Founded in 2008, Property Management Inc. is a rapidly growing franchise that provides expert property management services and solutions across 4 pillars: residential, commercial, association and short-term rental management. These four pillars provide the owners behind the brand's 300-plus locations with service options that build value and are unmatched in the industry. PMI’s consistent revenue-generating model has helped hundreds of property managers realize their dreams of successful business ownership. For more information about owning a Property Management Inc. franchise, visit ## Entities - 1851 Franchise (publication) - unit expansion (topic) - franchise growth (topic) - Business Services (sector) - property management (topic) - Property Management Inc. (company) - asset management (topic) --- Originally reported by 1851 Franchise (https://1851franchise.com/property-management-inc-on-track-to-hit-100-new-locations-open-by-years-end-2719464). Summarized by Burnaze (https://burnaze.com/article/1c247d1d-3978-4cb9-92f2-312b4f83a528).