Salt Lake City-based Property Management Business Solutions LLC has been acquired by Dwyer Franchising LLC of Waco, Texas. Billed as the largest property management franchising company in North America, the Salt Lake City firm does business as Real Property Management.
The acquisition brings more than 3,100 franchises under the Dwyer umbrella. Parent company to brands such as Molly Maid, Mr. Rooter, The Grounds Guys and Mr. Electric, Dwyer Group’s acquisition of Real Property Management is the first of its kind. The deal marks the 11th acquisition for Dwyer over the past 42 months, which now accounts for more than $1.7 billion in system-wide sales. Dwyer Group now has 20 consumer brands, 18 of them franchised. The company has eight corporate support centers throughout North America, U.K. and Germany.
“For over 30 years, thousands of rental property owners and investors nationwide have trusted Real Property Management offices to take care of their rental property,” said Lukas Krause, CEO of the company at the time of the acquisition. “I am confident that under the guidance and leadership of Dwyer Group, this organization will continue to grow and provide a great franchise opportunity for prospective and current entrepreneurs.” Krause will continue to oversee the franchise network in the role of brand president within the Dwyer Group organization.
“Real Property Management is a great fit for Dwyer Group’s growing family of franchise service brands as it shares our mission to help homeowners protect and maintain their most valuable investment,” said Mike Bidwell, CEO of Dwyer. “We look forward to growing that presence, tapping into the services of our existing service brands across North America and providing the best professional solution for property management.”
Real Property Management specializes in franchising a system to franchisees who manage single-family homes, townhomes, condos, multiplexes and small apartment buildings without onsite management. Its services include finding and screening tenants, completing the lease agreements, collecting rent and arranging for any necessary repairs. Real Property Management offices also manage the legal compliance for local, state and federal real estate law.
The company was founded in 2005 by Kirk McGary and Doug Oler and has grown to include more than 300 offices in 46 states and Canada that manage assets worth more than $13 billion.