Property Management

We treat your property the same way we treat ours. No exceptions.

Your real estate investment is important, your time is precious and your budget is limited. We understand and we care—we have been managing properties for over two decades.

We understand your goals and concerns.  You may wish to rent your property without being bothered because you have a career to pursue, a business to run or you are too busy to attend to property management duties. You might live out of town, out of state or even out of country, and need a reliable firm to take care of your valuable investment. 

We offer a simple solution to you – we take care of your property from A to Z.  And in doing so, we maximize return on your investment through clever budgeting, creative marketing, stringent cost control and reduced vacancies.   It is called benefits without headaches. 

Please download a copy of our Owner Welcome Packet for more information.

We provide the following services:

  • Real Estate Consulting
  • Bid Estimates
  • Project Management
  • Marketing & Advertising
  • Tenant Screening & Selection
  • Lease Preparation
  • Tenant Relations
  • Administration
  • Collections
  • Financial Statements Processing and Preparation
  • Lawn Care
  • 24/7 Maintenance Coordination

 

FAQs

I’d like to hire your firm. What’s the next step? 

It is absolutely essential that we meet in person or talk on the phone about your property. This will allow us to get to know one another and to discuss your concerns and goals. We suggest you set up a free initial consultation with our Property Manager to obtain more details about our services, terms of property management agreement and pricing.  Please note that we don’t provide any form of consultation via email.

How much does professional property management cost?

Generally, the cost of management is a percentage of the monthly gross rent. The percentage will vary depending on property type, size, location and requirements. However as a rule of thumb, you can expect to pay around 10% of monthly rental income. In addition, we require an initial set up fee, advertising fee and a commission for finding tenants for your property.  Extra charges will be added for managing extensive renovation projects and for providing you with consulting services. 

Is there a contract we both have to sign?

We require our clients to sign a twelve-month Property Management Agreement contract prior to providing any of our services. The purpose of this agreement is to protect your property and avoid disputes down the road with a clear, legal and binding contract outlining our responsibilities, ensuring a clear schedule for us, and clearly defining compensation. We will provide you with a draft of our Property Management Agreement upon request. 

How much do I have to put down to initiate the contract? 

We collect a one-time set up fee and a maintenance fund.  We won’t be able to tell you the exact amount until we discuss your situation and assess your property. Once the contract is agreed upon, signed by both parties and a payment is received in full, the contract will become official. 

Why shouldn't I manage my property myself?

A few owners choose to manage their property themselves and many of them are very successful. With the time involved in collecting rents, arranging repairs and leasing units, most owners have found that their time is more valuable spent elsewhere. A good property manager will make you money on your investment, not cost you money. Other important considerations are the legal aspects of property management. In the litigious society that we live in, a property owner can ill afford to handle a problem tenant in an incorrect manner. Professional property managers are well versed in landlord tenant law, and are abreast of the constantly changing Federal and State mandates governing them.

How do I know you will select a good tenant for my property? 

We set our bar high when it comes to choosing our tenants. Our screening procedure takes into account an applicant’s credit report history, employment history, stability, and prior rental history. In addition, we check a prospect’s rental history by calling a current and/or previous landlord. This in turn creates a lower turnover factor and premium rents.

Are any licenses required to perform property management?

Yes, the state law requires property managers to be licensed by the Indiana Real Estate Commission. Our Property Manager holds an active Real Estate Principal Broker License (#PB21200090).

Will I have to pay for property repairs?

Yes, just as you would if you were to manage the property yourself, you are still responsible for maintaining the property. There are many advantages of letting us handle the maintenance issues of your investment property. For example, we have the capability of negotiating with vendors for discount prices based on volume and we have in-house maintenance for general repairs, and an on-call emergency service for after hours repairs.

Will I have to pay for property utilities?

Yes, just as you would if you were to manage the property yourself, you are still responsible for any expenses associated with utilities while the property is vacant.  

Are the costs of property management services tax deductible?

Yes, your expenses associated with the property management are tax deductible, just like your mortgage interest, property taxes and repairs.  Consult a professional accountant for more details.