Indianapolis, affectionately known as “Indy,” is a city that blends Midwestern charm with urban vibrancy. Famous for hosting the iconic Indianapolis 500 at the Indianapolis Motor Speedway, the city also boasts a growing economy, affordable living, and diverse neighborhoods that make it a great market for real estate investment.
Many real estate investors in the area start by managing their own properties, only to find it can feel like taking on an additional full-time job. This realization often leads rental property owners to enlist the help of a reputable local property manager to oversee their rentals, communicate with tenants, and handle various financial and regulatory responsibilities.
If you’re seeking dedicated and experienced assistance, here are 10 professional property management companies you might want to consider in Indianapolis.
To assist you in evaluating your options, we’ve provided the following information for each property manager (where available; otherwise noted as “N/A” if not publicly disclosed):
- Years in business
- Property management fee
- Leasing fee
- Renewal leasing fee
- Maintenance fee
- Property setup fee
- Project management fee
- Number of rentals managed
This is certainly not intended to be an exhaustive list of all Indianapolis-area property managers. Instead, we have chosen to focus on those who prioritize transparent pricing and have a well-established track record of serving investors in the Indianapolis market.
Mynd (Top Choice)
Mynd Property Management serves the residential real estate sector with a combination of on-the-ground experts and innovative technology. Mynd makes it seamless for investors to approve service requests, communicate with their property managers, and monitor performance metrics in real time.
Here’s why real estate investors across Indianapolis trust Mynd to manage their rental properties:
- Rental Income Guarantee: If a Mynd-placed resident misses a payment, Mynd will cover up to one month of rent, to help you bridge any resulting gap in cash flow.
- Eviction Protection Plan: In the rare case that you need to evict a Mynd-placed resident, Mynd will cover court costs and legal fees up to $3,000.
- All marketing is done for you, including professional photography, listing your property on 40+ rental advertising sites, and virtual tours.
- They conduct strict resident screenings including proof of income, identity validation, and credit checks.
- Mynd’s intelligent pricing engine is powered by in-house data from 18,000+ active units under management. This helps provide detailed metrics on current market rental rates in an effort to deliver better financial outcomes with higher quality residents.
Key Metrics:
- Years in business: 9
- Property management fee: $75 - $89 flat fee per month (based on the number of properties under management)
- Leasing fee: 50% of first month's rent
- Renewal leasing fee: 25% of one month’s rent ($399 minimum, $1,000 maximum)
- Maintenance fee: Costs for repairs vary based on the scope of the work. The Mynd team works with a network of approved vendors to deliver quality work at fair rates. A significant percentage of service requests are handled by in-house technicians or virtually and virtual service requests come at no additional cost.
- Property setup fee: None
- Project / additional fees: For larger repair or capital projects that are more specialized or technical, Mynd uses a network of vetted vendors and their in-house teams of trade specialists to review bids. This ensures you get high-quality work without being over-charged.
- Rentals managed: ~18,000 units
T&H Realty Services
T&H Realty Services is a full-service property management company focused on the leasing and management of single family homes and condos throughout central Indiana. The company’s founders started out as local real estate investors who managed their properties so well that fellow investors asked for their services. T&H belongs to the Better Business Bureau (BBB) and the National Association of Residential Property Managers (NARPM).
Key Metrics:
- Years in Business: 24
- Property Management Fee: 8% - 10% of monthly rent ($80 minimum per unit)
- Leasing Fee: One month’s rent
- Renewal Leasing Fee: $125 - $250
- Maintenance Fee: 10% upcharge
- Property Setup Fee: None
- Project Management Fee: 10% upcharge
- Rentals Managed: N/A
Visit T&H Realty Services website
Polaris Property Management
Polaris is a longstanding member of the National Association of Realtors (NAR) and the National Association of Residential Property Managers (NARPM). Working with both first-time and veteran landlords, Polaris manages and markets properties throughout Indianapolis. Their experienced team also provides investment advice and fine-tuned property evaluations.
Key Metrics:
- Years in Business: 17
- Property Management Fee: 10% of monthly rent ($100 minimum)
- Leasing Fee: One month’s rent ($1,300 minimum)
- Renewal Leasing Fee: N/A
- Maintenance Fee: N/A
- Property Setup Fee: $275
- Project Management Fee: N/A
- Rentals Managed: N/A
Visit Polaris Property Management's website
Kline Properties
For over two decades, Kline Properties has been caring for rental properties in the Indianapolis area. Their full slate of property management services includes rent collection, accounting, rent price advisory, maintenance, inspections and more. Kline Properties also provides an online Owners Portal with 24/7 access to account activity.
Key Metrics:
- Years in Business: 23
- Property Management Fee: 10% for rents above $600 per month, and 12% for rents $600 and lower
- Leasing Fee: $600
- Renewal Leasing Fee: $25
- Maintenance Fee: Service trip charge is $55 within Marion County and $65 to immediately surrounding counties.
- Property Setup Fee: None
- Project Management Fee: N/A
- Rentals Managed: N/A
Visit Kline Properties' website
Indyflippers
Serving Indianapolis & the surrounding suburbs, Indyflippers is a fully licensed property management company that not only helps manage and care for investment properties but also helps tenants find quality area rentals. Indyflippers also provides investors with a 3-4 week home rehab service.
Key Metrics:
- Years in Business: 18
- Property Management Fee: 10%
- Leasing Fee: $600
- Renewal Leasing Fee: N/A
- Maintenance Fee: None
- Property Setup Fee: N/A
- Project Management Fee: N/A
- Rentals Managed: N/A
A Step Ahead Management
Based just north of Indianapolis in Carmel, A Step Ahead promises customers no-hassle management, low vacancy rates and an in-depth knowledge of the local real estate market. They focus on the leasing and management of single-family homes.
Key Metrics:
- Years in Business: 10
- Property Management Fee: 10% of monthly rent
- Leasing Fee: 50% - 100% of one month’s rent (based on rent amount)
- Renewal Leasing Fee: 25% - 50% of one month’s rent (based on rent amount)
- Maintenance Fee: N/A
- Property Setup Fee: N/A
- Project Management Fee: N/A
- Rentals Managed: ~1,500
Visit A Step Ahead Management's website
Evergrow Property Management
Run by a team with more than 20 years of experience managing Indy properties, Evergrow Property Management provides full-service “solutions” for property owners, including marketing, property evaluations, tenant screening, legal compliance, and more. Prospective clients receive a free rental analysis.
Key Metrics:
- Years in Business: 14
- Property Management Fee: 9% of monthly rent ($75 minimum) or $199 monthly flat fee
- Leasing Fee: 80% of first month’s rent (maximum of $1,400) or $399 flat fee
- Renewal Leasing Fee: $250 - $299
- Maintenance Fee: N/A
- Property Setup Fee: N/A
- Project Management Fee: N/A
- Rentals Managed: N/A
Visit Evergrow Property Management's website
WILMOTH Group
WILMOTH Group, established in 1994, offers property management and real estate services in Indianapolis and Central Indiana. Their services include property marketing, tenant screening, rent collection, maintenance coordination, and financial reporting, aiming to provide comprehensive support for property owners and tenants.
Key Metrics:
- Years in Business: 30
- Property Management Fee: 1-5 units - 10% of monthly rent or $40 per unit, whichever is greater. 6+ units - 9% of monthly rent or $35 per unit, whichever is greater.
- Leasing Fee: 75% of first month’s rent ($500 minimum, $1,500 maximum)
- Renewal Leasing Fee: $125 - $250, based on lease renewal length
- Maintenance Fee: None
- Property Setup Fee: None
- Project Management Fee: N/A
- Rentals Managed: 1,200
CRM Properties
CRM Properties offers property management services in Indianapolis, Kokomo, and Carmel, Indiana. Their services include tenant placement, rent collection, maintenance coordination, and financial reporting, aiming to help clients build wealth, save time, and reduce stress associated with rental property ownership.
Key Metrics:
- Years in Business: 12
- Property Management Fee: 8% of monthly rent ($275 maximum)
- Leasing Fee: One month’s rent ($1,500 maximum)
- Renewal Leasing Fee: $250
- Maintenance Fee: 10% vendor bill mark-up
- Property Setup Fee: $99
- Project Management Fee: 10% vendor bill mark-up
- Rentals Managed: N/A
Specialized Property Management
Specialized Property Management Indianapolis offers comprehensive property management services for residential properties in Indianapolis and surrounding areas. With over 30 years of industry experience, their services include tenant screening, property marketing, maintenance coordination, and financial reporting, aiming to alleviate the burdens of property management for owners.
Key Metrics:
- Years in Business: 37
- Property Management Fee: $99 - $139 monthly flat fee
- Leasing Fee: 50% - 60% of first month’s rent
- Renewal Leasing Fee: $375
- Maintenance Fee: N/A
- Property Setup Fee: N/A
- Project Management Fee: N/A
- Rentals Managed: N/A
