With the expansion of its vacation division, Property Management Inc. (PMI) continues to lead the property management industry, providing a platform for all four pillars of management: residential, commercial, association and vacation. The groundbreaking four pillar model supports PMI franchise owners in customizing the management of investment properties to optimize returns for investors.
“PMI owes much of its success to offering different types of property management businesses to our franchisees, and our extensive network of property management experts makes PMI uniquely capable of entering the vacation rental industry,” said PMI Vice President Brian Birdy. “The strength of our 4 Pillar system is synchronicity, allowing our business owners multiple sources of revenue. Vacation rentals are a powerful piece because short-term rentals are a thriving industry that may suit property owner’s needs better than long-term rentals, depending on the area. Most of our offices choose to use two or three of PMI’s pillars rather than all four, but giving them the foundation to succeed in their area is what matters most.” Equipping property managers with multiple avenues of business growth has been a focus of the PMI business model from the time it was founded. According to PMI President Steve Hart, “When we first offered both residential and commercial property management services, other industry professionals were cautious. However, we’ve found that allowing our franchise owners to pursue the type of management business that can bring the most value to real estate owners.”
PMI expands its vacation rental platform at a time when the short-term and vacation rental industry is projected to have continued growth. Technavio, a global technology research company, reported last year that there is a growing traveler preference for vacation rental over traditional accommodations. “Vacation rental homes are drawing increased investments to ensure higher profits from rental homes by improving their features and adopt better marketing strategies. Additionally, the number of investors purchasing single-family homes to use them as vacation rentals are increasing, thereby driving market growth,” says Abhay Sinha, one of the lead analysts at Technavio.
About Property Management Inc.
Property Management Inc. is a property management and real estate services company providing leading-edge technology, training, systems and support to more than 200 franchises. The PMI network manages more than $5 billion in assets globally and is recognized as a leading property management franchise. Its innovative franchise program provides the only platform that unifies the four pillars of property management: residential, commercial, association, and vacation. PMI is currently named on the Inc. 5000, Entrepreneur’s Franchise 500 list as “Best in Category” winner for 2017 and 2018. Additionally, PMI is ranked as one of the Top 100 Global Franchises in 2017 by Franchise Direct. For more information, please visit www.propertymanagementinc.com.
SOURCE Property Management Inc.