How PMI Turned Property Management Into a Scalable Franchise Platform - Dan Claps, Steve Hart

Dan Claps sits down with Steve Hart, co-founder and CEO of PMI, for a conversation about entrepreneurship, resilience, and building one of the largest property management franchise systems in the country. Steve shares how his entrepreneurial mindset started long before adulthood—mowing lawns, taking care of pets, and constantly finding ways to earn money as a kid. After realizing corporate life wasn’t for him, Steve eventually transitioned into entrepreneurship full-time, navigating multiple failures and difficult seasons along the way before co-founding PMI during the 2008 financial crisis.Throughout the episode, Steve breaks down how PMI identified a fragmented property management industry filled with mom-and-pop operators and turned it into a scalable national franchise brand built on systems, technology, and recurring revenue. Dan and Steve discuss the evolution of property management, the power of national branding, and why recurring monthly revenue creates such an attractive business model for franchise owners. Steve also explains PMI’s unique “five pillars” approach to property management—including residential, commercial, HOA, multifamily, and short-term rentals—which gives franchisees multiple ways to scale and grow their businesses over time.The conversation also dives into the realities of entrepreneurship behind the scenes, including the importance of having support from a spouse or partner during difficult moments. Dan reflects on how one of his earliest franchise placements with PMI helped shape his own journey into franchising, while Steve shares why he still believes PMI is only getting started despite operating in nearly every state. Whether you’re considering franchise ownership, exploring property management, or looking for insight from entrepreneurs who have weathered decades of ups and downs, this episode delivers practical lessons on growth, persistence, and long-term thinking.