5 Best Property Management Companies in Indianapolis

Indianapolis is one of the best cities to buy a rental property for investors looking for affordability, with home values below the national average. The steady economic growth and the fair costs of living attract many residents who drive the demand for long-term rental properties. Meanwhile, the history, the art, the food, and the sports bring year-round visitors looking for short-term rentals.

The 5 best property management companies in Indianapolis are:

1. HomeRiver Group: Best Overall
2. A Step Ahead Management: Best for Single-Family Homes
3. Intrigue Indy Property Management: Best for Portfolios
4. EVERGROW Property Management: Best for Flat Fees
5. T&H Realty Services, Inc.: Best for Flexible Options

Let Awning find the best property management company for your rental property. Simply fill out the form and Awning will find a property manager that provides the best rates and services for your property.

How We Selected the Best Property Management Companies in Indianapolis

When ranking the top property managers in a market, a lot of factors need to be taken into consideration to produce objective, reliable results.

In our selection of the best property management companies in Indianapolis, we accounted for the following:

• Amount and quality of services: First and foremost, we reviewed the services that companies provide and the quality achieved in order to ensure that investors can make truly passive income from their rental properties.
• Startup costs and monthly fees: We looked for companies that charge simple, straightforward prices with no hidden fees.
• Locations covered: We searched for property managers that operate across the entire Indianapolis market.
• Property types managed: We ranked both short-term and long-term rental property management companies that work with different kinds of residential properties.
• Size and headquarters of the company: We chose both small teams with local coverage and large companies with nationwide market coverage as each has its pros and cons.
• Use of technology: We made sure that ranked companies benefit from available technologies to automate processes without sacrificing the human element needed in the real estate industry.
• Third-party website reviews: We checked the online ratings of property management companies on big third-party websites and also read through individual reviews by both property owners and renters to find out the advantages and disadvantages of each manager.
• Value for money: Finally, we selected the 5 companies that offer the best value for money in the Indianapolis rental market.

We also ranked the best Indiana property management companies.

HomeRiver Group: Best Overall Property Management Company in Indianapolis

HomeRiver Group is the biggest third-party property manager across the US market working with single-family homes and small multifamily buildings rented out on a long-term basis. John Hirschfeld, Andrew Propst, Doug Dale, and Joshua Bangert created the company in 2016, with headquarters in New York, NY. HomeRiver Group is able to operate nationwide through the acquisition of the best local property management companies. Nationwide, they manage more than 40,000 rental properties and 32,000 units within HOA communities. HomeRiver Group is the best property management company in Indianapolis because of providing high-quality, full-service management at competitive prices.

HomeRiver Group Property Management Services

The HomeRiver Group Indianapolis office provides the following property management services:

• Expert market analysis
• Marketing on the best online rental platforms
• Extensive tenant screening including verifiable income, solid rental history, and no red flags on criminal and credit reports
• Property leasing, usually in less than a month
• Lease signing
• Rent collection and processing
• Owner payout deposit by ACH processing
• Legal compliance
• Routine inspections
• Prompt handling of repairs and maintenance work
• Accounting
• Help with preparing a maintenance budget
• Payment of maintenance vendor bills
• Payment of monthly items
• Owner statements
• Detailed financial reporting
• Eviction protection

HomeRiver Group Property Management Locations

The Indianapolis office of HomeRiver Group covers the following markets:

• Avon
• Broad Ripple
• Brownsburg
• Camby
• Carmel
• Center
• Decatur
• Downtown Indianapolis
• Fishers
• Franklin
• Greenwood
• Indianapolis
• Lawrence
• Noblesville
• Perry
• Pike
• Plainfield
• Warren
• Washington
• Westfield

HomeRiver Group Property Types

HomeRiver Group Indianapolis works with single-family homes, townhomes, condos, duplexes, and other small multifamily properties.

HomeRiver Group Property Management Costs

In the Indianapolis market, HomeRiver Group offers a single management plan with straightforward pricing:

• Monthly management fee: 10% of monthly income; 8% for 6+ units
• Leasing fee: One month’s rent
• Lease renewal fee: 50% of one month’s rent
• Biannual or quarterly inspections: $89/inspection
• Fall furnace and gutter cleaning: $200
• HVAC tune-up: $99/service

HomeRiver Group Property Management Terms

HomeRiver Group Indianapolis does not offer a copy of the management agreement that property owners need to sign. In most US markets, the company asks landlords to sign a 6- or 12-month contract, after which they can switch to a monthly agreement.

HomeRiver Group Property Management Reviews

Nearly 900 Indianapolis property owners and renters have reviewed the services offered by HomeRiver Group. Their reviews show generally positive experiences.

You can find HomeRiver Group reviews focused on the Indianapolis branch on:

• Birdeye: Currently 3.4/5 stars based on 368 reviews
• Google: Currently 3.4/5 stars based on 341 reviews

Reviews by happy investors and tenants focus on the efficient management of routine tasks, the smooth handling of maintenance requests, the outstanding and caring staff, the professionalism and experience of team members, and the prompt communication. Unhappy customers discuss excessive property issues, sluggish solutions to problems, rude and off putting staff, and nonexistent communication.

How to Get Started with HomeRiver Group Property Management

To get started with the best overall property management company real estate investors can submit an online form via HomeRiver Group.

A Step Ahead Management: Best for Single-Family Homes

A Step Ahead Management is a locally-owned and operated full-service property management company. The company was founded in 2014, with headquarters in Carmel, IN. They aim to be an innovative leader in the management and leasing of single-family homes throughout central Indiana. The comprehensive services and transparent pricing model make A Step Ahead Management the best Indianapolis property management company for single-family rental homes.

A Step Ahead Management Services

A Step Ahead Management provides comprehensive property management services in the Indianapolis real estate market including:

• Rent comp analysis
• Property marketing on 50+ websites, through local realtors, and with yard signage, with average days on market under 13 days
• Extensive tenant screening resulting in an eviction rate of less than 1%
• Professionally prepared lease and move-in forms
• Rent collection and processing
• Owner payout transfer via ACH
• Property maintenance
• Communication with owners
• Detailed property financing

A Step Ahead Management Locations

A Step Ahead Management operates in the following markets:

• Anderson
• Carmel
• Fishers
• Franklin
• Greenwood
• Indianapolis
• New Palestine
• Noblesville
• Plainfield
• Westfield
• Whitestown
• Zionsville

A Step Ahead Management Property Types

A Step Ahead Management specializes in the management of single-family homes rented out on a long-term basis but also works with some condos and apartments.

A Step Ahead Management Costs

A Step Ahead Management provides two distinct service packages to cater to different property management needs.

The first package, Marketing Only, is focused on tenant placement. For this service, the fee is equivalent to one month's rent.

The second package, Leasing & Management, offers a more comprehensive solution. It includes a monthly management fee, which is 10% of the monthly rent. Additionally, the tenant placement fee varies depending on the rental price. For properties with rent below $1,300, the fee is one month's rent. For properties with rent above $1,300, the fee is reduced to 50% of one month's rent. The tenant renewal fee also varies: for rents below $1,300, it's 50% of one month's rent, and for rents above $1,300, it's 25% of one month's rent.

A Step Ahead Management Terms

Property owners can cancel management contracts with a 30-day notice when a property is occupied and 1-day notice when a property is vacant. A Step Ahead Management does not apply any penalty or breakage fees.

A Step Ahead Management Reviews

There are more than 150 online reviews of A Step Ahead Management written by property owners and tenants. These reviews show generally positive experiences.

You can find A Step Ahead Management reviews on:

• Google: Currently 4.4/5 stars based on 154 reviews
• Yelp: Currently 5.0/5 stars based on 5 reviews

Happy landlords and renters praise the thorough services, the easy and hassle-free processes, the transparency, the timely addressing of maintenance requests, and the professional and communicative staff. Unhappy customers discuss poorly maintained properties, filthy rentals, dishonest practices, and mean and vindictive team members.

How to Get Started with A Step Ahead Management

To get started with the best property management company in Indianapolis for single-family homes, rental property owners can fill out an online form on the A Step Ahead Management website.

Intrigue Indy Property Management: Best for Portfolios

Intrigue Indy Property Management is an Indianapolis-based full-service property manager working with various types of single-family and multifamily homes. Ryan Rominger founded the company in 2018, with headquarters in Indianapolis, IN. The team strives to provide high-service property management and leasing through unique, personalized services. Intrigue Indy Property Management is the best property management company for investors with portfolios in Indianapolis as it works with different rental types and offers discounts for multiple properties.

Intrigue Indy Property Management Services

Intrigue Indy provides the following property management services:

• Marketing on 60+ reputable websites and social media
• Property showings
• Thorough tenant screening
• Tenant placement
• Customized lease agreements
• Tenant move-in
• Lease management
• Rent collection
• Owner funds disbursement
• Routine inspections
• Regular maintenance and repairs coordination through qualified vendors
• Accounting
• Detailed financial statements
• Tax assistance
• Evictions
• Large-scale renovations to get properties rent-ready through a network of dedicated contractors, at below-market pricing

Intrigue Indy Property Management Locations

Intrigue Indy Property Management operates in Greater Indianapolis and Central Indiana including:

• Avon
• Beech Grove
• Brownsburg
• Carmel
• Clermont
• Fishers
• Greenfield
• Greenwood
• Indianapolis
• Lawrence
• McCordsville
• Noblesville
• Plainfield
• Southport
• Speedway
• Westfield
• Whiteland
• Whitestown
• Zionsville

Intrigue Indy Property Management Property Types

Intrigue Indy manages single-family homes, townhouses, condos, duplexes, multifamily residences, and apartment buildings across the Indianapolis rental market.

Intrigue Indy Property Management Costs

Intrigue Indy offers clear and transparent pricing for its property management services, catering to different aspects of property management.

For leasing services, Intrigue Indy charges a leasing fee equivalent to one month's rent, capped at a maximum of $1,800. This rate applies if the property owner signs a 12-month property management agreement with them.

In terms of property management, the monthly management fee is set at 10% of the monthly rent. However, for owners with a larger portfolio of 10 or more properties, a discounted rate of 8% of the monthly rent is offered.

Additionally, Intrigue Indy provides project management services, charging a fee of 9% of the total project budget. This comprehensive range of services, coupled with the discounted rate for managing 10 or more properties, positions Intrigue Indy as a highly attractive option for investors in Indianapolis with sizable rental portfolios.

Intrigue Indy Property Management Terms

Landlords can cancel property management contracts with a 45-day notice, without termination fees.

Intrigue Indy Property Management Reviews

More than 270 real estate investors and tenants have reviewed the property management services provided by Intrigue Indy. Their reviews reveal very good overall ratings.

You can find Intrigue Indy Property Management reviews on:

• Google: Currently 4.7/5 stars based on 102 reviews
• ChamberofCommerce.com: Currently 4.5/5 stars based on 92 reviews
• Birdeye: Currently 4.5/5 stars based on 88 reviews
• Yelp: Currently 2.0/5 stars based on 4 reviews

Positive reviews by property owners and renters highlight the excellent organization and knowledge, the responsive and helpful team members, the professional and kind staff, the timely addressing of maintenance requests, and the rapid responses to questions and concerns. Negative reviews mention dirty properties and appliances, shady practices, slow implementation of maintenance work, withholding of security deposits, and constant errors in monthly statements.

How to Get Started with Intrigue Indy Property Management

To get started with the best property management company in Indianapolis for investors with portfolios, landlords can submit an online form via the Intrigue Indy Property Management website.

EVERGROW Property Management: Best for Flat Fees

EVERGROW Property Management is a local, full-service property management company working across the Indianapolis market and surrounding areas. The company was founded in 2013, with headquarters in Greenwood, IN. The team aims to provide property management services that allow individual investors to fulfill the financial success that is usually achieved by institutional funds. EVERGROW is the best Indianapolis property management company for flat fees, with 2 different tiers.

EVERGROW Property Management Services

EVERGROW Property Management covers the following services:

• Competitive rental price analysis
• Property marketing with professional photos and syndication across multiple platforms including Zillow and Trulia
• Tenant screening including credit check, debt to income ratio, employment verification, eviction history checks, previous landlord calls, and criminal history check
• Photo-documented property evaluations
• Rent collection and processing
• Direct deposit of owner payouts via ACH processing
• Legal compliance
• Maintenance and repairs coordination, using trustworthy and quick-to-respond vendors
• Accounting
• Payment of maintenance vendor bills
• Payment of monthly items
• Financial reporting
• Monthly statements and reports
• End-of-year summary owner statements and 1099 preparations
• Eviction services

In addition to full-service property management, EVERGROW also provides more guarantees than other best property management companies in Indianapolis, including:

• 2-Year Lease Guarantee: The leasing team will secure a 2-year lease agreement unless otherwise requested by the owner to provide consistent cash flow.
• No Marketing Fee Guarantee: Owners don’t pay marketing fees while the professional marketing strategy combines professional photography, 3D walkthroughs, and measured floor plans.
• Maintenance & Repair Quality Guarantee: The maintenance work, implemented through a network of vetted vendors, comes with 1-year guarantee for workmanship.
• Timely Distribution & Statements Guarantee: Owners will receive collected rent and financial statements before the end of the month.
• On Demand Guarantee: Owners get 24/7 access to all property information.
• Ethical & Fair Treatment Guarantee: EVERGROW is committed to defending the Ethical and Fair Housing Standards.

EVERGROW Property Management Locations

EVERGROW serves the following rental markets:

• Avon
• Brownsburg
• Carmel
• Columbus
• Fishers
• Franklin
• Greenwood
• Indianapolis
• Mooresville
• Plainfield
• Westfield
• Whiteland

EVERGROW Property Management Property Types

EVERGROW works with different residential property types including single-family homes, condos, and duplexes.

EVERGROW Property Management Costs

EVERGROW offers 2 different property management service packages which are charged as flat fees:

Fundamental Package: This plan includes the basic services needed to run a long-term rental business. It is most commonly selected by owners of properties with rent below $1,000/month.

• Monthly management fee: $99
• Management account setup: $149 for the first unit; $99 for additional unit
• New resident placement/executed lease: $999
• Lease renewal/executed lease: 3% of total lease
• Acceptance of existing tenant lease: $249
• Move-in and move-out evaluations: $120
• Annual evaluation: $95
• Annual landlord registration: $45
• Utility bill payment: $5/bill

Advanced Package: This plan includes everything in Fundamental Package plus additional services. It is most commonly selected by owners of properties with rent above $1,000/month.

• Monthly management fee: $199
• Management account setup: $99 for the first unit; $0 for additional unit

EVERGROW Property Management Terms

EVERGROW does not specify the terms of the management agreement on the company website. Interested property owners need to contact the team and ask for a copy which they can review before deciding if this is the best Indianapolis property manager for their needs.

EVERGROW Property Management Reviews

There are over 200 online reviews of the services provided by EVERGROW Property Management, showing very positive overall experiences.

You can find EVERGROW Property Management reviews on:

• Birdeye: Currently 4.6/5 stars based on 118 reviews
• Google: Currently 4.7/5 stars based on 116 reviews
• Facebook: Currently 1.8/5 stars based on 7 reviews
• Yelp: Currently 5.0/5 stars based on 2 reviews

Happy landlords and tenants praise the fantastic services, the streamlined and effortless processes, the outstanding professionalism and empathy, the integrity and tenacity of team members, and the prompt and helpful responses. Unhappy customers discuss complicated processes, horrible customer service, and lack of proper communication.

How to Get Started with EVERGROW Property Management

To get started with the best property management company in Indianapolis for flat fees, real estate investors can submit an online form via the EVERGROW Property Management website for free rental analysis.

T&H Realty Services: Best for Flexible Options

T&H Realty Services, Inc. is a full-service property management company working with single-family homes and condos throughout Central Indiana. Jeremy Tallman and Scott Hallberg founded the company in 2008, with headquarters in Indianapolis, IN. In their operations, the team focuses on client needs, great communication, integrity, education, advising, and teamwork. T&H Realty Services offers 4 different plans, which makes them the best property manager in Indianapolis for flexibility.

T&H Realty Services, Inc. Property Management Services

T&H offers comprehensive property management services in Indianapolis, which include:

• Rental market analysis
• Pre-leasing walkthrough
• Extreme marketing program including the MLS, Zillow Premium Listing, Zillow 3D Home Tour, and Zillow Interactive Floorplan
• Extreme tenant screening
• Lease signing
• Move-in
• Property turnover coordination
• Professional onboarding
• Regular property checks
• 24/7 maintenance
• Monthly owner statements
• Year-end tax statements
• Eviction protection

T&H Realty Services, Inc. Property Management Locations

T&H operates in all 9 counties in Central Indiana, including:

• Boone County
• Hamilton County
• Hancock County
• Hendricks County
• Johnson County
• Madison County
• Marion County
• Morgan County
• Shelby County

T&H Realty Services, Inc. Property Types

T&H works with A and B grade single-family homes, condos, and multifamily properties. They generally manage properties that generate $1,000 or more in monthly rental income, with the absolute bottom line being $800/month.

T&H Realty Services, Inc. Property Management Costs

T&H Realty Services stands out in the Indianapolis property management scene for its flexibility, offering four distinct service plans that cater to varying needs of landlords.

The first option is the Leasing Only Plan, which encompasses all necessary services to place a tenant. The fee for this plan is one month's rent.

Next is the Silver Plan, which builds upon the Leasing Only Plan by adding basic services required for the day-to-day management of a rental property. The monthly management fee for the Silver Plan is 10% of the monthly rent, with a leasing fee capped at a maximum of $1,500.

The Gold Plan includes everything in the Silver Plan, plus additional features like an eviction protection plan or semi-annual property checks. For this plan, the monthly management fee is set at 11% of the monthly rent, and the leasing fee remains the same as the Silver Plan.

Finally, the Platinum Plan is the most comprehensive, including all features of the Gold Plan plus both eviction protection and semi-annual property checks. The monthly management fee for the Platinum Plan is 12% of the monthly rent, with the leasing fee also capped at $1,500.

This range of plans offers landlords in Indianapolis a high degree of flexibility, allowing them to select a service level that best suits their specific needs and preferences.

T&H Realty Services, Inc. Property Management Terms

The website of T&H Realty Services does not provide a copy of the property management contract. Thus, investors need to get in touch with the company and ask for it.

T&H Realty Services, Inc. Property Management Reviews

More than 1,000 real estate investors and tenants have written online reviews of T&H Realty Services, Inc. These reviews show generally positive experiences.

You can find T&H Realty Services, Inc. reviews on:

• Birdeye: Currently 4.2/5 stars based on 631 reviews
• Google: Currently 4.4/5 stars based on 550 reviews
• Yelp: Currently 4.0/5 stars based on 63 reviews
• BBB.org: Currently 2.33/5 stars based on 3 reviews

Positive reviews focus on the nice properties, the helpful advice and oversight, the courteous and caring team members, the quick solutions to property issues, the exceptional customer service, and the professional and speedy responses to emails and phone calls. Negative reviews report unexpected rent increases, poor care for properties and clients, lack of knowledge, and absence of proper communication.

How to Get Started with T&H Realty Services, Inc. Property Management

To get started with the best property management company in Indianapolis for flexible options, long-term rental property owners can fill in an online form on the T&H Realty Services, Inc. website.

Takeaway

Indianapolis offers affordable and profitable investment opportunities. To turn Indy rental properties into passive investments, owners can hire one of the 6 best property management companies in Indianapolis. HomeRiver Group and Awning are the top choices for the management of long-term and short-term rentals, respectively. A Step Ahead Management is ideal for investors owning single-family homes, while Intrigue Indy Property Management meets the needs of those with diverse portfolios. Landlords who prefer to pay flat fees can check out EVERGROW Property Management, and those would like to be able to choose from different service packages can consider T&H Realty Services, Inc.