Property Management FAQ’s
Find answers to some of the most commonly asked questions about our Indianapolis property management services.
We evaluate your property according to the local market and 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.
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 review of public records, including an eviction history. One of the benefits of professional property management in Indianapolis is fast, reliable tenant placement.
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 protect your property.
Our screening process identifies tenants with a good history of paying rent on time and caring for rental properties. However, if rent is late, we have a process in place and late fees that ensure we collect your money as quickly as possible. Your financial protection is very important to us.
At ES Property Management, we handle 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.
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®).
It is recommended that a property owner be pet friendly when 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 you may be limiting your rental audience by not accepting or considering pets. Dog breeds considered aggressive are restricted. Additionally, no smoking is allowed in any of our managed properties.
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 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 have invested in the $1M umbrella policy. As proof of coverage, we will ask for a copy of your declaration policy page from your insurer showing the $500K liability coverage when you sign a property management agreement.
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 protect your property.
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's end, including all income, expenses, and owner draws collected and disbursed during the month.