Real Property Management Indianapolis Edge offers experienced property management services to Indianapolis and surrounding suburbs. Our services range from “lease-only services” to full property management. We see your investment as a part of you and, as such, it is important to us.
Rental property owners should urge their Beech Grove tenants to be involved in important community organizations and programs, such as the area’s neighborhood watch. Accomplishing to do so gives rise to tenants who are more associated with a safer community and gives rental property owners with low vacancy rates and higher property values.
A neighborhood watch is a community-led program, in which citizens organize themselves and work with local law enforcement to prevent crime. As a matter of fact, as reported by the National Crime Prevention Council, such programs are among the great means to prevent crime in a neighborhood. The reason for this is that community members volunteer their time and resources to keep an all-hours watch on their local streets, showing their dedication to crime prevention day and night. Each neighborhood watch group is unique, formed to fulfill the conditions and needs of a certain area. However, they all bestow a precious service that can retain and keep a neighborhood safe and attractive for all residents.
As property owners, it is significant to compel your tenants to get committed in neighborhood watch programs. If there is already a formed neighborhood watch program in your rental property’s neighborhood, you as a landlord should push and encourage your tenants to participate. Several renters are delighted to share their time to a community that fulfills their needs and shares their values and just waits to be compelled to do so. When tenants are dedicated to securing and keeping their neighborhood peaceful, they are very likely to make good relationships with community members, remain in the home long-term, and will hinder your investment property from being aimed at and abused by neighbors.
A safe, protected rental home and satisfied tenants are both keys to a successful long-term investment strategy. At Real Property Management Indianapolis Edge, we collaborate with business property owners and our local community to look after prime rental properties. Our property management experts know how essential it is to nurture and keep good relations with neighbors and community leaders in Beech Grove. Contact us online or call us at 317-420-8500 to learn about all the benefits of hiring RPM as your property manager.
Investors in search of other options to investing in a volatile stock market are seeking a rental property to grow their portfolios. While stocks have the potential for unmatched growth, they likewise possess inherent risks that can result in profound losses. As an alternative investment, rental properties give investors a profitable option to stocks and bonds while keeping risks low. And contrary to the old owner-landlord way to rental properties, today’s rental property investors are making single-family rental homes in Greenwood work better and smarter with the support of a team of property management professionals.
The question of which is a better investment, stocks or rental properties, will regularly cause a wide selection of explanations. The rationale for this is easy: what does “better” mean? Various investment options have different advantages as well as drawbacks, and so trying to figure out the ideal alternative for anyone investor depends on things such as how much risk they are willing to take and how long they can wait for the payoff.
To have a true sense of the contrasts between investing in rental properties and investing in stocks, equities, bonds, and so on, a team of economists analyzed over a century of global economic data. The study, The Rate of Return on Everything, 1870-2015, compares the returns on equities, residential real estate, short-term treasury bills, and longer-term Treasury bonds over this entire 145-year span across 16 advanced economies.
What they discovered is that, on average, residential real estate had the best returns of all investments, at just over 7 percent per year. Equities, or stocks, came in a close second. This contradicts with a lot of investors who focus in one investment area (i.e. stocks) over another, with stock investors greatly exceeding the number of those investing in rental properties.
There are really good justifications for this choice, because even though stocks are high risk, high return investments, noted for their high degree of volatility, there are relatively low barriers to entry in the stock market. Equities are also highly liquid, allowing an investor to sell quickly. Lastly, countless investors select to purchase stocks because it is truly passive income – there are no steps needed beyond initializing stock transactions.
On the other hand, as the latest years have revealed, investing in stocks carries an inherent risk of disaster. An economic downturn can completely wipe out an entire stock portfolio, warranting an investor with nothing. To mitigate this risk, lots of investors are reevaluating rental properties as an alternative investment.
There are a lot of benefits to investing in residential rental properties as opposed to the stock market. In accordance with the study, rental properties are a highly safer option for investors. But unlike treasury bills (another relatively safe option), real estate offers long-term returns that are comparable to or above the rate of return on equities.
Rental properties are not tied to the stock market, or even in other means to the economy. The need for rental homes oftentimes only increases in an economic downturn. What is more, the right rental property can begin producing rental income almost immediately and keep on doing so up till the property is eventually sold many years later for a sum much higher than the original purchase price. Though the down payment has a tendency to be an obstacle to new investors in the rental real estate market, there is a good probability that you’ll have that money back plus a significant sum on top.
Regardless of whether you’re seeking for an alternative investment to equalize a stock portfolio or you’re good to fully go as a rental property owner, Real Property Management Indianapolis Edge is here to aid you. We offer residential property owners with full-service property management support, targeting to create true estate ownership into a genuinely passive income opportunity. We look after the everyday works so that each rental property is fully functioning for you, making you liberated and free to grow your wealth and realize true financial freedom. Contact us online or call 317-420-8500 for more helpful information.
Improper pruning kills greenery more often than pests do, so you shouldn’t let your renters be the ones to do it. For strong, healthy greenery and a strong, healthy investment in Fishers real estate, you should understand the proper pruning techniques. Find a landscape company that has a good grasp of this, has the skill and experience, and is willing to handle this crucial part of maintenance for you.
What is pruning and why is it important?
Pruning simply means trimming back overgrowth that can damage a plant or weaken its structure. Cutting away the dead or diseased limbs will lengthen the life of the plant and help prevent infestations of pests on your property. Both will maintain your property value, if not add to it. Pruning also brings other advantages. It allows for the removal of overhanging branches from the sidewalk or driveway. This is very helpful as it makes sure that there wouldn’t be anything that grows into your Fishers rental property’s roof or windows, or surrounding power lines.
If you aren’t proactive about pruning, dead limbs can simply crack off on their own, which might lead to someone getting injured or damage their property– like a vehicle. If you have, in your property, some bushes and trees that are not properly pruned, you could be causing all sorts of problems. These ranges from minor issues such as cuts from thorns to major hazards such as obstructing views of traffic. Additionally, in many areas, you are legally required to maintain the landscape in such a way as to not create a nuisance, block line of vision, or to encroach on property lines or air space.
To avoid lawsuits, perform regular trimming of trees and shrubberies every spring. Making cuts in cold weather can damage the plant. You can train a plant’s branches simply by making slightly angular cuts that will shape its growth in the most attractive or functional direction. Cut above growth buds to preserve flowers.
Why should the resident avoid pruning?
You can give mowing and water to the tenants. However, actual tree trimming and general pruning are best done by professionals. There is just too much liability involved with ladders or risk of landscape damage and tenant injury. Do not forget to communicate this in the lease so your tenant would not topple off a ladder or mishandle power tools while trying to fulfill a vague “landscaping” clause. If you don’t, the potential lawsuits will far outweigh an annual vendor fee.
A different aspect to consider is that not every tenant has a natural green thumb. Their lack of competence just might weaken, warp, or kill greenery that at one time added to your property value can ruin your curb appeal and be an exorbitant slip-up if you have to replant the whole kit and caboodle.
Should you outsource pruning?
The biggest bit of being the owner of a rental property is all about protecting your investment, which implies conducting regular maintenance, inside and out. For safety and insurance reasons, and to see to it that the job is accomplished correctly, consider passing off the landscaping maintenance to professionals. If a tree branch is under 10 cm thick, you’d be able to manage it yourself. For anything substantially larger, phone a skilled maintenance crew for a speedy, risk-free way to the most appealing outcome.
Real Property Management Indianapolis Edge has a network of licensed, insured maintenance staff to perform regular, proactive pruning for your single-family residence in Fishers. We can also manage the entire leasing process, making sure that any landscaping responsibilities are accurately listed and made known to your tenants. Contact us or call 317-420-8500 for more information today.
The professional property management industry changed significantly in the last few years. The usual approach to owning rental homes is the do it yourself landlord approach. Although this method of management is still very much in use, more and more investors are realizing they could benefit more with property management companies like Real Property Management Indianapolis Edge. They’ve seen their consistency, quality, and national presence, and they know what that can do for them.
At the corporate level, each franchise owner is carefully selected in order to find experts committed to giving the highest quality property management services from coast to coast. No matter where a property owner’s residence or rental homes are located, the same great service is available for you nationwide.
You can also see the quality of our property management franchise by taking a look at the amount of training and support offered to each franchise office in the Real Property Management family. Most property management companies offer too little training that their people may not be able to deal with certain issues that come their way– especially issues that they’ve never seen before. Nothing is left to chance here at Real Property Management.
To make sure franchise offices such as ourselves are successful from the get-go, RPM offers award-winning training and continuous corporate support. Franchise owners have an in-person franchise training at the corporate offices in Salt Lake City, Utah. Throughout these several days of training, we will discover what it takes to operate a property management office that is successful and able to offer real estate investors an exceptional quality of service. This allows us to have the experience and corporate support we want. Additionally, we also have innovative systems and processes to better serve both property owners and tenants.
Ultimately, thoughtful selection, comprehensive training, and corporate support are what elevates Real Property Management Indianapolis Edge above the other property management companies. The way we handle residential property management offers a degree of standardization that many other companies lack. This standardization is critical because this is what opens the door for property owners to expand their real estate investment activities beyond their own hometown.
With the expertise of Real Property Management backing them, investors can confidently expand their property holdings. They can buy more rental homes in markets anywhere in the country. We possess the necessary means and assets in order to manage profitable rental homes. The peace of mind and freedom that this brings you are really good reasons to choose Real Property Management Indianapolis Edge for all of your property management needs. Don’t hesitate to contact us online or give us a ring at 317-420-8500 to know more about what we can do for you.
Hardly anything causes more trouble in a Carmel rental house than drafty doors and windows. Outdated properties are repeatedly afflicted by leaking air and single-pane windows that substantially cut down a home’s energy efficiency and makes it difficult to sustain a pleasant temperature in a room. All the same, newly constructed homes may face drafts if the windows and doors were set in place or adhered badly. In order to lower energy costs and increase tenant satisfaction, all you need to do is a few simple improvements.
Generating an energy-efficient rental home definitely doesn’t mean a complete window and exterior door replacement. On the report of the US Department of Energy (USDE), heat gain and loss because of leaky windows represent up to 30% of residential heating and cooling energy use. When finding ways to improve efficiency, a good place to start is sealing cracks, gaps, and replacing weather-stripping. Your current windows and doors can usually be updated and improved by this method. There are other ways to improve the energy efficiency of existing windows that don’t cost a lot; these include adding window treatments or solar film.
If, after going through these steps, there is no improvement in efficiency or the window itself is old or damaged, the USDE says that you can add storm windows over your existing windows as an additional option. While it may be the case that storm windows cost more than weather-stripping, it is still cheaper– less than a quarter of the cost– than a whole-house replacement. On top of that, the effect that storm windows have on energy efficiency is almost the same as brand new windows, lowering utility bills and ensuring long-term comfort for tenants.
There are smart arguments to be made so that you may supply the funds in a whole-house window replacement plan. It may be the most expensive option but new windows offer the highest return on your investment. The new changes in technology for energy efficient windows have added more options for budget-conscious property owners. Today, customized window options exist for cold climates, hot climates, and everything in between. As a case in point, choosing to install gas-filled windows with Low-E coatings can significantly reduce heat loss in cold weather, and when the weather is hot, the same coatings will help keep the heat out. New windows are also more durable than storm windows or other options, saving on maintenance and repair costs.
Since there are many choices available, it would be advisable to start with a detailed rental property evaluation to assess the condition of windows and doors. This is where Real Property Management Indianapolis Edge can serve you. We take a thorough look at your property and determine the best way to make your energy efficiency better. We then team up with you and work together to keep your expenses at a minimum while making sure your Carmel rental home stays comfortable, efficient, and attractive to present and future tenants. Please contact us online or call us at 317-420-8500 to learn more about how we can serve you.
So many landlords who are first starting out manage their rental home as a “side hustle” – that is, they often have a full-time job and manage their rental properties on the weekends. While this strategy to property management works at the start, it cannot be sustained if you want to grow. Investors with multiple properties or who are looking to expand to more than one town will realize that investing in real estate is not an activity that one person can handle alone. To acquire and then successfully manage multiple rental homes, you’ll need a team of professionals who are both qualified and dedicated to helping your property value grow year on year.
Although it’s usually placed under the “passive income” category, having a successful rental property business is a hands-on profession. As a Brownsburg owner-landlord, this implies that you are constantly on call. If you work a full shift or have other obligations, you may be unavailable for long periods of time. If this happens regularly, your tenants may soon become frustrated when you couldn’t answer their calls or respond quickly to their requests for repairs and maintenance.
Not every tenant request can be postponed. Emergencies at a rental property can happen at any time of the day. If an owner-landlord fails to respond promptly to emergency situations, such as a water leak, this may lead to serious consequences. Not only will neglecting a problem potentially lead to extensive damage and far more expensive repairs, but tenant satisfaction will likely decrease as well. Your limited availability may communicate the wrong message to your tenants: that they aren’t a high priority. This would discourage them and may lead to poor tenant retention in the long run.
Another thing that weekend warriors must consider is the dynamic nature of the rental industry– changing quite often. Both renters and property owners have certain expectations for their property manager. They would expect, for one, a degree of professionalism. Renters, for example, are used to convenient services like paying rent online. They are also used to having an unbiased resource to turn to when a problem arises. Time and time again, they automatically anticipate a level of professionalism when finalizing repairs and other management jobs.
Handling these expectations are where quality property management companies are without equal. As experts in the business of property management, the office must be able to supply a collection of benefits that will aid in keeping your Brownsburg rental houses were taken, lucrative, and in good shape. They should have good contacts with service providers and vendors who can offer cost-effective quality maintenance and repairs. They ought to also possess substantial comprehension in Landlord/Tenant law, and be able to utilize that skill if and when any arguments or atypical things come to light.
For property homeowners looking to swap the struggle of a side hustle for the way of life of a professional real estate investor, consider hiring the property management company with over 30 years of experience helping people do just that. Thousands of property investors across the country have discovered the difference that hiring Real Property Management makes. We have the facilities and the skill that renters want, as well as the technology, systems, and connections in the industry that investors require to make sure that their rental home’s earnings reach their maximum potential. Please contact us online or call us at 317-420-8500 if you want to learn more or are interested in working with Real Property Management Indianapolis Edge.
There are plenty of smart reasons to regularly update your single-family rental home in Greenwood. From increased rental rates to higher tenant enjoyment, remodeling can aid property owners in reaching their real estate investment goals. Nonetheless, research has corroborated that not all property renovations will have the sought-after outcome. As a matter of fact, some property upgrading projects can actually make property values to decline, as well as dissuade potential tenants. Understanding which upgrades to keep away from can aid property owners by keeping their costs low and increase returns year after year.
While industry experts have conflicting viewpoints on which upgrades are not helpful, most are of the same opinion that only going for high-end remodels just isn’t worth the money. For instance, a luxury bathroom might seem like a big draw for long-term renters, but that bathroom typically isn’t enough to justify a significant increase in rent. A property owner could pay out thousands of dollars on a whirlpool tub or other modernizations that a renter may never take advantage of. You will likely never recoup the expense of the remodel and the upsurge in the worth of the property and tenant satisfaction are negligible.
One more difficult upgrade to deal with is a swimming pool. In warmer areas of the world, property owners may choose to construct a pool in order to make their rental home more competitive with other rental homes in the area. But unless the property is at the present time on the high-end, erecting a pool does not provide a good ROI. In reality, above-ground pools can actually cause property values to decrease, plus it can be considered as a big negative for several renters. Many tenants simply don’t want the hassle and expense of a pool, which means that for the most part, a swimming pool won’t help you attract or retain tenants, either.
Tenants also prefer to refrain from renting homes with high-end or expansive landscaping. While lovely exteriors can grow property values to some extent and build up curb appeal, many renters will see high-end landscaping as a negative, requiring far more time and effort than they are willing to give or increased costs for professional upkeep. This can remarkably decrease the area of prospective applications, perhaps even making your rental home harder to rent out. An expensive landscaping job could quickly deteriorate if it is not properly maintained, resulting in a total loss of your investment.
Before designing any upgrades, remember to study your rental market meticulously to make certain you are not modernizing your rental home greater than what the neighborhood can carry. Such as, connecting an extra bedroom to get your rental home in line with the other homes in the neighborhood may be a wise decision as this will allow for bigger rental rates and property values. But the overpriced makeover of a home in an ordinary neighborhood is much more probably to end in a depletion of your investment.
To get a straightforward idea of which property restorations are worth the expenses, evaluate the value of a Real Property Management Indianapolis Edge market assessment. We can evaluate your Greenwood rental home, offer market comparisons, and make specific recommendations for improvements. This way we can assist property owners to maximize their earning potential with higher rent, steady growth of property values, and long-term tenants. If you want to speak with a team member or have any questions, contact us online or by phone at 317-420-8500 and we would be happy to aid you today.
Only a few things have a bigger return on your Indianapolis investment property when it comes to energy efficiency than switching to efficient light fixtures and bulbs. Clever lighting choices can help both you and your tenants to set aside a lot of money by bringing down the amount to be paid in the utility bills, improving safety, and decreasing the time spent on bulb replacement.
As said by the US Department of Energy, by changing at least five standard lightbulbs with upgraded energy-efficient bulbs, you will save at least $45 each year. It is reasonable to believe that exchanging all of the uneconomical lightbulbs in a residence can give you, year after year, greater savings. These kinds of savings will be an irresistible attraction for budget-conscious renters.
In addition to the energy savings, opting for halogen incandescent, compact fluorescent lamp (CFL), or light-emitting diode (LED) lightbulbs entails that you will spend less time needing to replace them. Some energy-efficient bulbs can last for numerous years compared to traditional incandescent lightbulbs that often wear out quickly.
Any of these lightbulb options can work for indoor use, but outdoor light fixtures can benefit the most from a CFL or LED spotlight bulb. Developed to cope with the weather and to last for many years, a CFL or LED spotlight can deliver long-lasting safety and illumination in an energy-efficient way.
Bringing old fixtures up to date by turning them into smart light fixtures can improve energy efficiency even more. In order to reduce the amount of energy used and ensure that lights are only on when needed, install fixtures with integrated timers, photocells, and dimmers. Some fixtures can sense light levels and turn on at dusk whereas other fixtures can be programmed to turn on and off automatically. By only turning the lights on when required, the amount of energy utilized each month can be reduced significantly.
These kinds of light fixtures give quality lighting options for a portion of the cost when they are utilized in combination with energy-efficient bulbs. When you exchange your old fixtures to energy efficient light fixtures, you allow your tenants more authority over their utility bills and save yourself a lot of money and time.
Real Property Management Indianapolis Edge will help you take care of bringing your lighting up to date like a lot of energy efficient choices available nowadays. We have supported many Indianapolis property owners over the years to develop energy-efficient rental homes that tenants adore. Contact us online or by phone at 317-420-8500 today to find out more.
As a newbie to the rental property business, you may be nervous about making that first purchase of your investment property home. Do you know what things to consider to attract renters? If you have ever rented a home yourself, then you have experience in what home renters are looking for. Most homes are renting to families who are happy with the less burdened renter lifestyle, or who are new to an area and checking out that area before they buy a home. As in every part of the Indianapolis property management process, your Indianapolis property management team can help answer any questions you may have during the purchasing phase. Here are few suggestions from the pros:
1) Look for homes no older than 15 years. This will help keep down maintenance costs and save you money long term.
2) Look for homes that are not located on busy streets, and have fenced yards as they are generally more attractive to renters.
3) Rental properties should have at least 3 bedrooms and 2 bathrooms, and be located in neighborhoods where home values are appreciating. This allows you as the owner to charge a higher rent.
4) Consider the proximity of the property to things people need and/or want: Schools, public transportation, shopping and dining.
5) If the home is in a HOA, there may be fees for violations and signage and parking rules. Be sure to identify what the HOA codes are and how you will enforce them with your tenants.
Remember that the decisions you are making in the purchasing process are ones that will affect you long term. The property type you choose will affect what type of potential tenants you attract, and how long the home stays vacant. These are all things to consider as you begin your journey into the rental property industry. By making smart decisions today, you and your Indianapolis property management team will be pleased with your future results.
While in the rental property purchasing phase, your priorities are location, location, location. But after acquiring a property and renting it out, your focus is all about planning, planning, planning. As one of the largest property management companies in Indianapolis, we recommend the following plans:
Plan on maintenance costs. It’s a fact of running a rental property.
Plan on things breaking. Appliances, faucets, water heaters, heating and air conditioning units—these things don’t last forever. Whether you are able to repair them or they need replacing, things break.
Plan on tenant turnover. If you keep tenants happy, they typically will stay put for a while, but even the happiest tenants won’t stay forever. Job changes, schooling, outgrowing the home, or even purchasing a home of their own—life events happen.
Plan on repeating the process. Every time you have a tenant move out, you will need to prepare the property for a new one. Costs will vary, but could include new paint, new carpet, bringing the home up to code if necessary, and making any repairs from normal wear and tear.
As a leader among property management companies in Indianapolis, Real Property Management Indianapolis knows that the costs of routine maintenance can become overwhelming. We educate our clients to expect the unexpected and plan on spending the equivalent of approximately 2 months worth of rent per year on maintenance costs. By planning for the costs of repairs, when problems do arise, the costs will not be so overwhelming. And partnering with Real Property Management Indianapolis gives you access to appliances, cleaning and repair services through our network of contractors.
As the old saying goes, “If you fail to plan, you plan to fail.” Don’t make failing part of your plan. Plan maintenance costs ahead of time and be proactive about issues when they arise. Planning sets you on the path of successful real estate investing.