Salt Lake City—Property Management Business Solutions, the franchisor of Real Property Management, announced that chief operating officer Lukas Krause will be promoted to CEO, effective immediately. Kirk McGary, founder, will be chairman of the board.
McGary started the Real Property Management franchise with business partner Doug Oler in 2005. The company is now the leading property management franchise in the nation, with more than 270 offices in 46 states that manage assets worth more than $8 billion. The Real Property Management brand specializes in managing single-family homes, townhomes, condos, multiplexes and small apartment buildings. Its services include finding and screening tenants, completing the lease agreements, collecting rent, arranging for any necessary repairs, and processing evictions when necessary. Real Property Management offices also manage the legal compliance for local, state and federal real estate law.
Krause joined Property Management Business Solutions (PMBS) in 2012 as VP of Operations and was promoted to COO in 2013. During his time at PMBS, he has implemented several new software systems, built a franchisee business consulting group, and was vital in the creation of a corporate-owned office in Salt Lake City. Previously, Krause led the Tax Advantaged Investment Practice for Ryan, Inc., where his responsibilities included development and implementation of service strategy for supporting Ryan’s Fortune 500 clients. Prior to that, Krause was Senior Director of Global Expansion for Quiznos.
Real Property Management will look to fill Krause’s COO position with a seasoned operations executive, said McGary.
In 2015, HousingWire Magazine named Krause among some of the industry’s rising stars under 40. The Real Property Management brand was also recently recognized as the no. 1 property management company by Entrepreneur Magazine, and one of the top franchise opportunities for veterans by Military Times, Franchise Times and Franchise Business Review. In 2014, it was named one of America’s 10 Best Franchises by Forbes magazine for an investment under $150,000.