Inside Keyrenter's 14,000 Door Franchise Model with CEO, Nate Tew

75–100 doors is where most PM companies hit the wall. And the reason is almost always the same: the owner won't hire fast enough.In this episode, I'm joined by Nate Tew, CEO and co-founder of Keyrenter Property Management. They’ve got 94 locations and about 14k (yes, thats fourteen THOUSAND) doors under management. We dig into PM franchise models, Nate’s Model 300 framework, and why he's deliberately keeping growth slower than it could be (Keyrenter would be 2-3x its current size if they accepted every applicant).We discuss:(00:01:40) - Nate’s background and career(00:07:07) - Taking a Franchisor approach(00:16:29) - Sponsor - DoorLoop(00:18:05) - Unit Economics(00:21:41) - Painful Decisions and turning away potential Franchisees(00:25:31) - Early signs of the success of a Franchisee(00:28:30) - Intellectual Property(00:39:18) - Sponsor - Enterprise Bank & Trust(00:40:42) - Breaking out of the discomfort in hiring and training(00:49:05) - What the most profitable franchisees are doing differently(00:52:05) - Leadership philosophies and plateau points(00:58:07) - Contrarian Thinking in PMNate breaks down the unit economics behind 23% same-store revenue growth, what separates his most profitable franchisees, and the early signs that tell him a new franchise owner is going to win.We also get into a contrarian take I mostly agree with: most "bad owner" stories aren't really about the owners.If you're scaling a PM company (or thinking about the franchise path) this one's well worth your time.__Resources for Property Managers & Real Estate EntrepreneursCrane – Private PM Owner Community → Join a private network of property management owners and operators: https://joincrane.co/Free Weekly Newsletter → Property management insights, strategies, and industry updates direct to your inbox: https://peter.beehiiv.com/subscribeRL Property Management → Learn more about Peter’s company and services in Columbus, Ohio: https://rlpmg.com/__Disclaimer: The content of this podcast is for informational purposes only and does not constitute professional advice. I may have consulting agreements with, or financial interests in, companies mentioned in this podcast (more info here: https://www.peterlohmann.com/financial-interest-disclosure ). Additionally, some of the links included may be affiliate links, meaning I may earn a commission if you purchase through these links. Always perform your own due diligence before making any financial or business decisions.