Guest blogger and Real estate professional Lisa Andrews wrote this very informative article about the Indianapolis home rental market:
As a native and life-long resident of Indianapolis, Indiana one of the things I have grown to appreciate the most about this city are its hard working down-to-earth friendly residents.
Don’t get me wrong, the hit that the nation felt to the economy since 2007 has been felt here as well. The downward turn in the economy resulting from a record number of home foreclosures was the trigger point for my brokerage to get more involved in the real estate market from an acquisition standpoint.
In 2004 the owners of my brokerage had begun picking up single family homes in the Indianapolis area that required more than paint and carpet as we understood that the true value was in the homes that other investors wouldn’t dream of bidding on that were in strong residential areas. From 2004 through today the owners have gathered a portfolio of over 100 single family homes, two commercial buildings and 2 apartment buildings with a total of 133 units.
Often people will ask – why Indianapolis?
- Indianapolis is ranked as one of the country’s top markets for return on rental properties
-Forbes Aug. 2009
- Indianapolis ranked 6th on list of “Best Cities for Jobs.”
Forbes, January, 2008
- Indiana ranked “Best State for Business” in the Midwest and 11th nationally. Indiana ranked 3rd in the nation in “Business Friendliness,” 4th in transportation, and 6th in cost of business.
Chief Executive Magazine, Jan. /Feb. 2009
For these and many other reasons this is why our roots are in the Indianapolis real estate market.
Over the years, as our portfolio grew, so did our knowledge of what it takes to run a successful rental property. In 2008 it was a natural transition to start to offer what had previously only been offered to our own portfolio to new outside investors.
We remain dedicated to helping current and future property owners to better locate, manage, and build their real estate portfolio. We maintain a full-time staff of well-trained industry professionals who continually strive to provide top quality service, coupled with the highest level of integrity to ensure unprecedented customer satisfaction and support.
Investors want an agent who brings the knowledge and expertise required for locating and evaluating viable investment properties. Property management firms can provide the highest quality property rehabilitation, tenant placement, retention, and management at some of the most competitive prices in the business. We have the unique ability to offer a synergy of services working together to promote a successful real estate investing environment for both novice and seasoned investors.
Here is a little more insight into our approach and services provided:
- Locate Viable Investment Properties
We have a team of licensed real estate professionals with extensive experience and market knowledge whose sole responsibility is to locate income producing investment properties – whether you are looking for single family, multi-family, or commercial property we can accommodate your needs.
- Discounted Property Listing and Marketing Services
- Residential Property Rehab on Rental Properties
We have a highly dedicated, experienced, fully licensed, bonded, and insured construction company that adheres to the highest quality standards and specializes in timely completion of investment property rehabilitation. Because of the volume of construction business we do, we are able to provide quality materials and workmanship at competitive prices. Currently, our average rehab takes about four weeks from start to finish and is overseen by our professional construction project managers.
- Tenant Placement and Property Management – (we manage over 500 properties)
As a fully staffed and highly experienced property management company we have a strong track record of success to handle all of your property management needs. Currently, we have an occupancy rate of over 95%, an average lease period of two years, and an average of 60 days for tenant placement with no upfront fees. This level of service will help to ensure that each property is as profitable as possible.
- Rent Collection
- Regular and 24/7 Emergency Maintenance
- Tenant Screening (member of National Tenant Network)
- Monthly Tenant Statements
- Online, Newspaper and yard sign rental advertising
- In-house Title Company and Closing Services (Palladium Title Services, LLC)
- Real Estate Bookkeeping Services
- Outside Network of Legal, Property Tax and Debt Collection Services
- High Level of Experience
Most Indiananapolis real estate analysts believe that the historically stable nature of the city and it’s citizens as a whole will make almost any well thought out and managed real estate purchase during this current economy a gem of an investment in the future. – Lisa Andrews, CFO Silver Property Management
This article brings Rent It Today back to its roots: Apartment Rentals and Homes For Rent. Rent It Today originally launched its website marketing residential houses for rent in the Midwest. Contact our call center at 866-441-5246 for more info on marketing your residential rental properties.