Owner FAQs
These are some of the most commonly asked questions about our Owner Services.
If you have a question that’s not here, contact us and we’ll talk about whatever you need.
At ES Property Management, we have a simple fee structure that is transparent and easy to understand. The leasing fee is the equivalent of 90% of one month’s rent, and your monthly maintenance fee is 10% of your rental income. We’ll review any additional fees and any questions you may have when we discuss our management agreement.
We are a full-service property management company. We can do everything for you, from finding a tenant to preparing your house for the rental market. Then, we stay on top of maintenance and evaluations. We also help investors locate and purchase properties and remodel them. Our experienced team will handle everything you need and protect your investment property.
Our goal is to help you succeed and earn income from your investment property. Our only requirement is that the property is in a safe neighborhood where our property managers would feel safe to go at night. We don’t accept Section 8 properties and look for rental homes with a lot of potential in diverse neighborhoods that attract quality pools of tenants. As your Indianapolis property management company, we can help you identify some excellent opportunities.
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.
We have a rigorous screening process at ES Property Management, which ensures that only the most responsible and highly qualified tenants move into your home. Then, we continue to protect your investment throughout the tenancy with evaluations, fast action on maintenance items, and continuing education about the laws and requirements for landlords in Indianapolis.
Yes, we require insurance 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 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 have invested in the $1M umbrella policy. As proof of coverage, we request a copy of your declaration policy page from your insurer showing the $500K liability coverage upon signing a property management agreement.
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 protect your property.
All rent is due on the 1st and late on the 5th. Then, 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's end, including all income, expenses, and owner draws collected and disbursed during the month.
Yes! Simply arrange for the bills to be sent to us. We pay them on a timely basis.
Yes, a monthly statement is available to view in your Owners 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 you can choose from that have been published to your Portal
- View all supporting Work Orders and Vendor Invoices
- View Owner Draws and Contributions
- Create New Owner Contributions via eCheck, or credit card
