Property Management in DT Indianapolis

[Joe Swanson]

Hi Everyone,

I'm looking around at a few Property Management companies in Indianapolis.  I've found that most have come in at 10%, however, they have other fees for just about everything.  Can anyone share with me they're costs and fees of what you use for a PM?  Most companies that I look at actually come out to about 13.5-16.5% with new tenant/lease renew fee or construction fees, far more than just the monthly 10%.

[Ivan Barratt]

@Joe Swanson great comments. Good managers do charge the above rates (10% for single family through 4 family units + leasing fees, renewal fees, construction/project management fees). Small asset management IS a game of nickels and dimes for the manager. If they don't watch the small change they end up working for free.

As with most things you'll get what you pay for.  The bargain basement guys will fail you in some way sooner or later.  They'll either figure out they have to scale and raise rates (so they can afford to hire a great team... which is what I did) or they'll just work harder (instead of smarter) and end up taking on too many properties.

As your properties get bigger (more apartments under one roof) the economies get way better.

Hope that helps Joe