These are some of the most commonly asked questions about our Indianapolis property management services. If you have a question that isn’t answered here, make sure you contact us and we’ll talk about it.
How do you determine what my property will rent for?
We evaluate your property according to the local market, and we look at what similar properties are renting for. We keep your price low enough that you won’t face a long, expensive vacancy and high enough that you’ll earn a profitable cash flow.
How do I know I’m getting a good tenant?
Our tenant screening process is rigorous, and we apply high standards when searching for your tenants. In addition to the usual check of credit, employment and criminal background, we also check the Terrorism Watch List and the Sex Offender List. We do a complete check of public records, including an eviction history. One of the benefits of professional property management in Indianapolis is fast, reliable tenant placement.
What if the tenant damages my property?
We provide our owners with an Insurance Program that protects you against tenant damage. This doesn’t cost you anything, and we charge our tenants a small monthly fee to keep your property protected.
What if my tenant stops paying rent?
Our tenant screening process identifies tenants with a good history of paying rent on time and taking care of rental properties. However, if rent is late, we have a process in place as well as late fees that ensure we collect your money as quickly as possible. Your financial protection is very important to us.
Can you help if there are problems with the HOA?
At ES Property Management, we take care of all third party issues involving your property. We’ll work with your tenants and the HOA and keep you compliant with all their rules and regulations.
Are your Property Managers licensed?
Yes, our Property Managers are licensed Realtors® / Brokers in Indiana. Dedicated to property management, our Property Managers are also active members of the National Association of Residential Property Managers (NARPM®).
Do you have a pet or smoking policy for properties that you manage?
It is recommended that a property owner be pet friendly where possible. Our standard additional Security Deposit to charge the tenant is $500.00 for up to two (2) pets. It is refundable to the tenant if pet damages do not exceed the entire Security Deposit. Please note that by not accepting or considering pets you may be limiting your rental audience. Dog breeds considered aggressive are restricted. No smoking is allowed at any of our managed properties.
Do you require home insurance for the homeowner / landlord?
Yes, for the homeowner / landlord. Our Error and Omissions (E & O) insurance provider requires that homeowners / landlords carry a minimum of $500K liability insurance. You will need you to call your insurance agent and inquire if you have $500K in liability coverage. There is a good chance you already have $500K coverage or already have invested in the $1M umbrella policy. As proof of coverage, a copy of your declaration policy page from your insurer showing the $500K liability coverage will be requested upon signing a property management agreement.
Do you require tenants to have Renters Insurance?
All of our tenants are required to carry their own Renter’s Insurance policy with a minimum Liability of $100k. If they choose, we provide our owners with an Insurance Program that protects you against tenant damage. This doesn’t cost you anything, and we charge our tenants a small monthly fee to keep your property protected.
When and how do you disburse payments to homeowners / landlords?
All rent is due on the 1st and late after the 5th. This said, property owners are paid after rent is collected and cleared. Rents collected by the 15th of the month will usually be disbursed via electronic Direct Deposit between the 16th and 23rd. Rents collected after the 15th will usually be disbursed between the last day of the month and the 4th of the following month. A monthly statement will be posted to the online owner portal at month end and will include all income, expenses and owner draws collected and disbursed during the month.