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Updated almost 5 years ago,
Fair Property Management Company in Indy
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