What Maintenance Am I Legally Responsible for as an Indianapolis Landlord?

By Devon L. Hicks on Aug 26, 2018 10:00:00 AM

Recently, we’ve picked up a lot of properties from other Property Management companies in Indianapolis.

And when I say a lot, I mean a LOT.

This has given us the opportunity to see a wide range of Lease Agreements.

Some are pretty standard and some...well, some have been a little questionable in the legal department.

When we take over management of an occupied property, we must honor the Lease that is currently in place until the end of the term. We’ve been surprised at some of the provisions in these agreements, especially in regards to maintenance.

Some of the provisions explicitly outline that the Tenant is responsible for all maintenance in the rental home. 

Yes, all maintenance.

But, in the state of Indiana, this is neither legal nor ethical from a Property Management standpoint.

It’s also just downright lazy.

One of the main reasons property owners hire a PM is to handle maintenance issues. It’s a big part of what we do.

And one of the main reasons people decide to rent, is because they’re not ready to take on the commitment of home-ownership... i.e. maintenance.

So, forcing all of the maintenance onto your Renter is basically just a recipe for disaster.

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An Indianapolis Property Manager's Review of SimpliSafe

By Jeremy Tallman on Jul 1, 2018 10:00:00 AM

*This review is not paid for or solicited by SimpliSafe or any of its affiliates.*

Break-ins are a real and unfortunate reality of owning rental properties.

They rank right up there with some of the more difficult parts of being a Landlord.

Several years ago, when break-ins occurred in a rental property, options were limited in terms of security systems.

No matter which provider you went with, a long-term contract was almost always a part of the deal and an invasive installation was always required.

So, if the property was vacant, a Landlord had a decision to make… either wait until a new Tenant took possession (and chance another break-in) or bite the bullet and sign-up for a multi-year contract.

Neither option was a good one.

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3 Major Reasons the Condition of Your Indianapolis Rental Property is Important

By Jeremy Tallman on Jun 24, 2018 10:00:00 AM

Is condition really important?

If you are an experienced Investor - someone who has rented several homes or a home several times - you already know the answer, right?

Of course condition matters.

And while the answer seems simple, we occasionally have to remind some of our Clients that condition does indeed matter.

It matters, most importantly, to your bottom line.

Gone are the days when Landlords could simply offer a house that didn’t leak, provided heat and, attracted a good Tenant.

Today’s Tenant is demanding and, if you don’t react accordingly, you’ll find yourself with a worn out property.

A worn out EMPTY property.  

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How Good Maintenance Processes Help Retain Tenants

By Devon L. Hicks on Mar 18, 2018 10:00:00 AM

We’ve said it before and we’ll say it again: When you buy rental real estate, you’re entering into a small business.

As with all businesses, large or small, customer service should always be a major priority. After all, it’s easier and cheaper to retain customers than it is to find new ones.

As a Landlord, this holds true for you, too.

Maybe even more so than many other industries.

Effective Property Management is a critical component of any successful buy and hold strategy. If your Tenants renew, you save a TON of time, energy and money.

To maximize your investment, you should strive to retain good Tenants and avoid vacancy, which, as we’ve noted before, is a cash flow killer.

Arguably, one of the best ways to keep your Tenants happy is to practice good maintenance processes.

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13 Tips for Properly Maintaining My Indianapolis Rental Home

By Devon L. Hicks on Jan 14, 2018 10:00:00 AM

More often than not, maintenance has a negative connotation in the rental property world.

The goal of all Landlords is to minimize it.

The goal of all Tenants is to ensure it’s done and done right now.

For Landlords, maintenance usually means something is broken, or there’s some other issue that’s going to cost them money.

But that isn’t, and shouldn’t always, be the case.

Most maintenance should be viewed as asset preservation as opposed to fixing and replacing.

Most experienced and successful Landlords understand that the better a property is maintained, the lower the long-term expenses should be, and the higher chances for Tenant satisfaction and longevity.

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How Much Will I Spend on Maintenance for My Indianapolis Rental Home?

By Devon L. Hicks on Dec 17, 2017 10:00:00 AM

We've been in the Property Management industry since the year 2000, and one of the most frequently asked questions from Landlords across the board is:

"How much will I spend on maintenance?"

As much as we want to provide a quick, one-size fits all answer, it's not that simple.

As you may know, maintenance expenses are dependent on a wide array of variables. There's no magic number we can give you because every property is a little different.

What we can do, however, is help you plan and create a budget for your specific property, and prepare you the right way for whatever maintenance issues may - and will - come your way.

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