Property Management Inc. Crosses 300-Unit Milestone in Q1, Shows No Signs of Slowing Down

After celebrating significant growth throughout 2020, pandemic- and recession-resistant franchise Property Management Inc. continues to grow, closing out Q1 by crossing the 300-unit milestone.

The franchise brand, which provides property management solutions for residential, commercial, association and short-term rental properties, added 29 new franchises to its system in the first quarter, opening new locations in Minnesota, Texas and more.

That’s in addition to the 67 new locations PMI added in 2020, a 31% increase over the previous year.

“We’re proud of our accomplishments during a difficult year,” says Marianne Heder, director of Property Management Inc.’s new Short Term Rentals Division. “Our model is at the heart of our success as well as our franchisees’ success.”

Founded in 2008 at the start of one of the most dramatic real estate downturns in United States history, part of PMI’s history of success can be attributed to its four-pillar model that allows franchisees to gain expertise in one area and expand into others if and when they’re ready.

The company also offers franchisees the support of an expert team of franchisors and a large network of fellow franchisees.

For Albany, New York-based Jeffrey O’Shea, who became a PMI franchisee in Q1 of 2021, PMI’s thorough training and support system has been invaluable.

“They’ve been great so far, and our business coach has been extremely helpful,” O’Shea says. “Besides coaches, you have marketing managers, blog writers and hundreds of years of property management expertise at your fingertips. I can’t say enough great things about the people at PMI.”

In 2021, PMI has plans to grow beyond just property management. By the second quarter of this year, the company will introduce a PMI brokerage service to give franchise owners better training, support and systems to manage property listings. This will bring added value to PMI’s services because they can not only manage the property for an investor, but they can also help sell the property when the time comes.

And now, after entering multiple new territories in 2020, from Minnesota to Maine and from Georgia to Texas, PMI has plans to make deeper inroads to markets across the country.

“Because of the way our franchise territories are crafted, we still have attractive territory in top tier development markets,” says PMI President Danessa Itaya. “We are entering a new, exciting phase this year as we cross the 300-unit mark milestone. We not only expect that trend to continue into Q2; we are forecasting another year of phenomenal growth for our brand and our franchise partners.”

The startup costs for a Property Management Inc. franchise range from $22,750 to $175,100. The franchise fee ranges from $16,200 to $128,600. To learn more about franchising with Property Management Inc., visit propertymanagementincfranchise.com.