What property management actually costs in Indianapolis
If you own a rental in the Indianapolis metro and you've tried to comparison-shop property managers, you've probably noticed the prices are hard to find. Most firms want a phone call before they'll tell you what anything costs. So here's the market, in one place.
The management fee
The headline number typically runs 8–12%+ of collected rent in the Indy metro. Some firms tier it by property count or sell plan levels; watch for per-unit monthly minimums that quietly raise the effective rate on lower-rent homes.
The fees around the fee
This is where budgets actually drift:
- Setup / onboarding: commonly $250–350 per property
- Tenant placement: 50–100% of the first month's rent
- Lease renewal: $200–300 flat
- Property inspections: often $50–75 each
- Maintenance markup: typically 10–15% added to vendor invoices
- Eviction coordination: $200–500 plus legal costs
Add those to the headline rate and two managers advertising "10%" can be hundreds of dollars apart per property per year.
Our schedule, for comparison
Published on this site, because that's the whole idea: 10% of gross rent, 50% of first month to place a tenant, $250 flat renewal, and $0 for setup, inspections, rent analysis, vacancy, and maintenance markup. One flat schedule — no tiers, no minimums, no add-ons.
Whoever you hire, ask for the full fee schedule in writing before you sign. If a manager won't put it in front of you, that tells you something too.