Property Management, Inc. Is Targeting Baltimore for Development

Since its founding in 2008, Property Management, Inc. (PMI) has successfully expanded its footprint to more than 260 markets across the United States, Puerto Rico, Costa Rica and Malta. Now, the property management franchise has identified Baltimore — also known as Charm City — as its next target for development.

Specifically, PMI is looking to sign at least three franchisees in the Baltimore area.

Expansion into the Baltimore market is a unique opportunity for the brand and prospective franchisees because the market is largely untapped. Currently, PMI does not have any franchisees in the area, making it a significant opportunity for growth as well as market dominance for those who want to get in on the action quickly.

“Baltimore is a wide-open market for prospective PMI franchisees,” said Steve Hart, co-founder and chief executive officer of PMI. “It’s a great opportunity for those looking at getting into the property management category: With no current franchisees, the entire Baltimore market is theirs for the taking. Because of PMI’s business model and the guidance and support franchisees receive from the executive team, we are confident that those who sign in Baltimore will find success.”

In addition to open market availability, Baltimore is attractive to PMI for a few reasons. First, Baltimore is the largest city in the state of Maryland and boasts an estimated population of 602,495 according to the U.S. Census Bureau. What’s more, the Baltimore metropolitan area boasts an estimated population of 6.7 million people — making it the 20th largest metro area in the U.S.

Secondly, what makes the Baltimore market a significant growth opportunity for the PMI brand is property values. According to an article written for the Baltimore Business Journal, property values across Maryland have risen an average of almost 9% over the last three years. Values increased in all 23 Maryland counties and Baltimore City by an average of 8.9%, which represents an average increase of 7.3% for residential properties and 13.5% for commercial properties.

“Tapping into Baltimore and its surrounding metropolitan areas is a huge opportunity for PMI,” PMI President Danessa Itaya said. “The large population coupled with rising property values just makes sense for the brand and our growth goals. We’re actively targeting the Baltimore area, looking to pick up a group of professionals to train and work with to build a strong and established PMI presence.”

Baltimore’s rising residential and commercial property values garner good news for PMI thanks to its four unique pillars of service that include residential, commercial, association and short-term rental services.

With a presence in the Baltimore market, PMI franchisees can focus strongly on residential and commercial properties while simultaneously growing their business and establishing recurring and transactional revenue streams. Specifically, PMI’s residential property management services include brokerage services, property inspections, leasing, set-up fees and more, for single-family and multi-family homes. PMI’s commercial services include working with property owners as clients and business owners as tenants in the asset preservation business with longer lease agreements.

PMI is the top choice for those wanting to convert their existing property management business into a franchise. Franchisees are able to leverage PMI’s resources, systems and national recognition to grow and expand their portfolios in ways they otherwise couldn’t**. “PMI provides an array of flexible and professional solutions to the property management category, ensuring our franchisees are set up for success right from the get-go in any market,” Hart said.

“That being said, we are confident that PMI will be successful in the Baltimore market. Now, it’s just a matter of finding and connecting with the right franchise partner to really represent the PMI brand and establish its presence in the market.”

The initial start-up investment for a Property Management Inc. franchise ranges from $21,250 to $106,800 and has a franchise fee ranging from $15,000 to $62,900. To learn more about franchise opportunities with Property Management Inc., visit ***