FDD ITEM 20 · FISCAL 2023–2025
Keyrenter Property Management Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), Keyrenter Property Management reported 76 franchised outlets at year end. 3 of 59 franchised outlets open at the start of the year left the system — an annualized exit rate of 5.1%— while 20 new outlets opened. Systemwide units moved +38.2% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 48 | 55 | 59 |
| Opened | 9 | 7 | 20 |
| Transfers | 3 | 1 | 2 |
| Terminations | 1 | 1 | 3 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 2 | 0 |
| Outlets at end | 55 | 59 | 76 |
| Net change | +7 | +4 | +17 |
3 terminations + 0 non-renewals + 0 ceased (other) = 3 exits ÷ 59 at start = 5.1%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (2) are resales, not exits; reacquisitions by the franchisor (0) are tracked separately. There is no official “failure rate” — this annualized exit rate is the disclosed, measurable floor.
| State | Franchised | Company-owned |
|---|---|---|
| TX | 10 | — |
| FL | 7 | — |
| VA | 7 | — |
| CA | 6 | — |
| IL | 4 | — |
| UT | 4 | 0 |
| MD | 3 | — |
| MO | 3 | — |
| NC | 3 | — |
| SC | 3 | — |
| AZ | 2 | — |
| CO | 2 | — |
| GA | 2 | — |
| KS | 2 | — |
| NJ | 2 | — |
| OK | 2 | — |
| PA | 2 | — |
| TN | 2 | — |
| WA | 2 | — |
| AR | 1 | — |
| DC | 1 | — |
| ID | 1 | — |
| IN | 1 | — |
| MA | 1 | — |
| NH | 1 | — |
| NV | 1 | — |
| NY | 1 | — |
| WI | 0 | — |
The Keyrenter Property Management validation checklist
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