New PMI of St. Johns County Owners Celebrate a Year in Business, Full of Growth and Learning

In 2021, Kristin Armel and her husband Bill, who has been a real estate agent, broker and investor for several years, decided to team up and purchase a Property Management Inc. (PMI) franchise. The Armels knew being a part of the PMI system would allow them to make a positive impact in the real estate industry; the brand has grown into the largest property management franchise in the nation, with over 400 units and a massive network of resources and support.

“My husband had been building his real estate portfolio for a while and noticed he was kind of hitting a wall and couldn't really grow much more than what he had already,” Kristin Armel said. “He researched franchises, found PMI and fell in love with it. It was the perfect complement to help him grow and get beyond where he was by himself.”

The couple purchased an existing operation, PMI of St. Johns County, Florida, from the previous franchisee and officially took over in September of last year. They have been busy growing the business and learning about all PMI has to offer them as residential property managers.

Kristin Armel has also been absorbing information about the real estate industry. She says their acquisition of an already-running PMI territory is “like inheriting a moving train, but all the pieces are now fitting together.”

They have been able to steer towards major success. For example, business has increased by 20% in recent months. They have added multiple doors this fall, started marketing, onboarded all their properties into the PMI system and are hoping to soon be able to hire a maintenance coordinator. The Armels have a goal of eventually managing 100 properties and possibly scaling to offer another of PMI’s service pillars: commercial, short-term rental, or association management.

Kristin credits Claire Benge, their PMI franchise business coach, with being a major help during the transition and their first year of operations.

“Claire really listened to all the struggles and helped us proactively move forward any challenges that were there. She has been a constant ear to help us identify learning points and then develop tools and strategies,” Kristin said. “I am really so thankful to Claire; having a franchise business coach like her makes a night-and-day difference. She has really helped me gain a lot of confidence in representing PMI’s of Saint Johns County, despite not having a background in real estate.”

The Armels are very grateful to be a part of the large-scale PMI system, which offers abundant resources for the couple’s franchise. It’s been especially helpful for Kristin Armel, who came from a finance background before this venture.

“PMI takes all the guesswork out of property management. There was a lot to learn, but everything is available to you in their system. They handle rent collection, maintenance portals, screening applicants and have all the documentation you need in one easy place,” she said. “It has taken much of the stress out.”

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 propertymanagementincfranchise.com.

Founded in 2008, Property Management Inc. is a rapidly growing franchise that provides expert property management services and solutions across four pillars: residential, commercial, association, and short-term rental management. These four pillars provide the owners behind the brand's 400-plus locations with service options that build value and are unmatched in the industry.