Fair Property Management Company in Indy

[Joe Donohue]

Hello,
Our company has several properties throughout Indiana.  Some are self-managed, others we use management companies.  I am shopping for a fair Indianapolis property management company that does not survive on random fees charged each month.

For example, 8 months into a lease with a property management company, I have only had one month where no Misc/Repair/Fees were charged.  One month out of Eight where we received the planned Net.  
This company holds a small balance out of rent for repairs or "preventative maintenance" (quarterly cleanings and inspections).  

I am trying to find a company that either include small repairs as part of the management fee. For example we pay 10% of gross rent management fees, but about another 30% in random repairs and preventative maintenance.

I would much rather pay 20% of gross rents to the company and they absorb any small repairs!

 Our other properties we plan for 10% management fee and about 10% in repairs to get our Net cashflow each month.  Our Net Net would be Net cashflow minus taxes, insurance and CapX.  

Are there any companies in Indianapolis that do not fee you to death ?

Thank you for any recommendations.

Joe D

[Robert McInteer]

*simply my opinion* Firstly, Ethiosity is the the property management company I’ve heard the best reviews about from multiple sources in Indianapolis. They stepped in for a lot of investors when the whole Oceanpointe fiasco erupted and helped them navigate a difficult situation. Personally, I manage all my rentals myself. Reason being is that to have a viable management company in Indianapolis you must either have a book of business that is so large it supports the running expenses of your company (since rents are somewhat low here depending on what class of property you have) or they are a smaller outfit and have to nickel and dime every investor. So in short to look the most attractive to a management company you either need a small amount of class A rentals (little management needed and good returns on their time) or a large portfolio of lower class rentals. I looked into  starting a stand alone management company (no trading of properties) and this is the conclusion I came to, I’m sure some will disagree with this assessment.

But to answer your question ethiosity.