If you have a question about investment property management in Indianapolis, we’ll provide the answers. These are some of the things we discuss most often with our new owners. If you have a question that’s not here, contact us and we’ll talk about whatever you need.
How much does property management in Indianapolis cost?
At ES Property Management, we have a simple fee structure that is transparent and easy to understand. The leasing fee is the equivalent of half a month’s rent and your monthly maintenance fee is 10 percent of your rental income. We’ll go over any additional fees and any questions you may have when we discuss our management agreement.
What kind of services do you provide?
We are a full service property management company, which means we can do everything for you from finding a tenant to preparing your house for the rental market and then staying on top of maintenance and inspections. We also help investors locate and purchase properties as well as remodel them. Our experienced team will handle everything you need and protect your investment property.
What do you look for in a rental property?
Our goal is to help you succeed and earn income from your investment property. Our only requirements are that the property is located in a safe neighborhood, where our property managers would feel good about going at night. We don’t accept Section 8 properties and we look for rental homes that have a lot of potential in diverse neighborhoods that attract good pools of tenants. As your Indianapolis property management company, we can help you identify some excellent opportunities.
When will I receive my rental payment?
Our online technology allows tenants to pay rent online, which means we can deposit rent into your account faster. As soon as the rental payment is received, we transfer your funds electronically. You can keep up with the process by logging into your owner portal here on our website.
How do you protect my property?
We have a rigorous screening process at ES Property Management, which ensures only the most responsible and highly qualified tenants move into your home. We continue to protect your investment throughout the tenancy with inspections, fast action on maintenance items and continuing education about the laws and requirements for landlords in Indianapolis.
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.
Can you pay my Homeowners Association dues and property taxes?
Yes! Simply arrange for the bills to be sent to us. We pay them on a timely basis.
Can I view my monthly statements online?
Yes, a monthly statement is available to view in your owner portal after the end of the month. The Statements section of the Owners Portal allows you to:
- View Owner Statements and up to 20 other reports which you can choose from that have been Published to the your Portal
- View all supporting Work Orders and Vendor Invoices
- View Owner Draws and Contributions
- Create New Owner Contributions via eCheck, or credit card