Year Business Began: 1986

Franchising Since: 2004

Headquarters: Waco, Texas

Estimated Number of Units: 400

Franchise Description: Real Property Management SPV LLC is the franchisor. The franchisor’s parent company is Dwyer Franchising, LLC d/b/a Neighborly. A Real Property Management franchise permits franchisees to operate a business providing property management services, including the management of maintenance and repair services and rent collection. A Real Property Management franchise is generally granted within a metropolitan area that has a population of more than 100,000 people. However, at its discretion, the franchisor may grant a franchise within an isolated metropolitan area that has a population of fewer than 100,000 people, and for existing franchisees, it may grant additional franchises within an area that has a population of less than 60,000.

Training Overview: Franchisees will not be allowed to attend the initial training program until they have received their real estate license and sponsoring real estate broker in the state in which they are operating, and the pre-training program requirements are completed and they receive written approval to attend. Training is offered at the franchisor’s offices in Waco or Dallas, Texas, or another location it designates. A portion of the training may be conducted by a third-party software supplier and may be conducted virtually. Franchisees must designate a manager for the business and he or she must satisfactorily complete the training program before the opening of the business. Within 10 days from completion of the initial training, franchisees will begin their pre-opening support training a support specialist who will assist and guide them as they work through their business goals to open and successfully begin their franchise. In conjunction with the support training, franchisees will also receive six weeks of sales training through webinars and conference calls provided by the franchisor’s designated vendor or corporate staff. Periodically, franchisees, their managers or employees must attend one ongoing training session and may attend additional ongoing training sessions to be conducted at the franchisor’s headquarters or another location it designates. Franchisees must also attend, every year, at their expense, the annual training or conference event specified by the franchisor and currently referred to as “Reunion,” and any other training the franchisor designates as required.

Territory Granted: Franchisees will receive the right to operate a Real Property Management business at a location within a territory that meets the franchisor’s site selection guidelines. The Franchise Agreement will also specify a designated territory that will provide franchisees limited territory protection. The Franchise Agreement does not grant any territorial rights beyond the territory. A typical territory will have a population in excess of 100,000 people; however, the franchisor reserves the right to grant a territory with a population of less than 100,000. If franchisees are a current franchisee, the franchisor may grant a territory with a population of 60,000 people or less. Franchisees will maintain rights to the territory even if the population in the territory increases. Provided franchisees are in full compliance with their Franchise Agreement, the franchisor will not establish or operate more than one additional company- or affiliate-owned or franchised Real Property Management business for every 100,000 persons in the territory.

Obligations and Restrictions: If franchisees are individuals, they must directly perform or supervise the operation of the business unless the franchisor consents otherwise. If the franchisor agrees that franchisees need not personally perform or supervise operation of the business, an individual who has successfully completed the training program (a manager) must directly supervise the business, and that individual must be a bona fide manager, as determined by the franchisor. If franchisees are a corporation or other legal entity, direct, on-site supervision must be done by a designated owner who has successfully completed the training program unless the franchisor consents otherwise (a principal owner). Franchisees must offer and sell only the goods and services that conform to the franchisor’s standards and specifications. Franchisees must offer the goods and/or services that the franchisor designates as required for all franchisees and they may elect to offer other products and/or services only if the franchisor approves them in advance.

Term of Agreement and Renewal: The length of the initial franchise term is 10 years. The Franchise Agreement can be renewed for one additional 10-year term by executing the then-current form of Franchise Agreement and meeting the other requirements for renewal.

Financial Assistance: The franchisor may agree to finance a portion of the initial franchise fee for qualified prospective franchisees under specified terms and conditions. The franchisor’s decision to finance the initial franchise fee will be based, in part, on the franchisee’s credit-worthiness, the collateral the franchisee has available to secure the financing and the franchisor’s then-current financing policies. The franchisor may periodically agree with third party lenders to make financing available to its qualified franchisees and it may, in its sole discretion, refer franchisees to a third party lender for financing. The franchisor does not guarantee a franchisee’s obligations to third parties. If franchisees are a United States honorably discharged veteran (as such term is defined by the franchisor in its sole discretion) who meets the qualifications for purchasing a franchise, the franchisor will discount the minimum initial franchise fee by 15%.