Red Door Property Management
Indianapolis, IN 46240
At Red Door Property Management, we treat every property like it is our own and use every resource available to protect your investment for you. We take great pride in protecting our client’s investments and love to go the extra mile to make our clients raving fans. Some of these extra mile services include: tenant move in and move out videos emailed to owner and tenant, exterior inspections every month, interior inspections twice per year, automatic e-deposits for owners, and 24/7 online access to view every detail about your rentals.
Property Management involves a whole lot more than just finding a renter including: marketing, tenant screening, leasing, maintenance, accounting just to name a few. RDPM knows that failure to execute every one of these steps at the highest level could result in lost profit. That is why we are committed to performing each one of these tasks as if our own home was on the line.
Marketing is the initial step when trying to rent a home. We at Red Door recognize the power of technology and employ a vast array of strategies both online and off to get your home rented as quickly as possible. If we are able to rent your home out just 30 – 60 days faster than either doing it yourself or someone with less marketing, you will have already paid for all your property management fees for the year! Here is how we do it:
- In depth analysis of comparable rents –We run an in depth analysis to make sure your home is not priced too low or too high.
- Suggest any improvements to achieve maximum rent – Sometimes a few small improvements can add to the bottom line. We know the market and make suggestions for you to achieve maximum profit.
- Internet Campaign – We utilize our own vast network of websites along with sharing our listings with hundreds of other local and national websites to get your property the most exposure possible.
- Print ads – A waning technology, but we still use print ads on a limited basis.
- MLS – We list all our homes in the MLS so the 1,000’s of other Realtors and their clients have access to them.
- BAC- BAC stands for Buyer Agent Commission and we offer more than anyone else in the marketplace. We try, but we cannot have every possible renter in the marketplace. While most management companies only half heartedly seek to cooperate with other real estate agent’s we know it is in our client’s best interest to attract agents and their clients. Most management companies will offer 10% of the first month’s rent if another agent brings them a renter. On a $1000 rent that is a paltry $100; not worth anyone’s time. We guarantee other brokers a minimum of $250 if they bring us a renter for your property. This costs us a little extra but we want to get your home rented as quickly as possible.
- Signs – Of course we have signs in the ground and we actually answer our phones and return messages!
Perhaps one of the most overlooked aspects of property management is tenant screening. Simply finding a renter is only half the battle. If you end up with someone who doesn’t pay or someone who is going to destroy your property, you would have better off having no one in there at all! This is why tenant screening is so important and why we spend so much effort making sure the tenant will respect and maintain the property. Some of the measures we use to screen potential tenants are:
- Rigorous, in-depth application
- Credit check
- Criminal background check
- Record check to ensure no prior evictions
- Verification of income and job history
- Interview previous landlords to determine rental history
- One on one interviews
The actually leasing of the property might seem simple, but many steps are needed to insure your lease is handled properly, legally and in a way that protects your assets including:
- Attorney written lease agreements
- Collection of all rents and security deposits
- Review of HOA rules for your community
- Signed tenant inspection list
- Tenant move in and move out videos of the home that are emailed to both tenant and owner to better document the condition of the home
- Lease execution and termination
Property Maintenance is another would-be headache for potential landlords that we handle on behalf of our clients. Inevitably something is going to break and tenants are going to call in the middle of the night. It is our job as your property manager to handle these details for you. Red Door Property Management handles all of these items including:
- Coordinate repairs with our trusted contractors
- Handling all tenant calls
- Paying contractors (repair costs are deducted from owner’s escrow account)
Propety Finances / Owner Tools
We are a tech savvy company and invest in the most up to date technology to offer our clients and renters the best possible experience. Both owners and renters have 24/7 access to their “portals” which gives them all the information they could possibly want about their particular unit including:
- Online rent payment for tenants
- E-deposits right into owners bank accounts
- View and approve work orders
- Instant access to all expenses
- On-line reports
- Vacancy status
- Instant communication
As you can see we do A LOT for our clients and truly do treat every home as if it was our own. We may not be the cheapest property management company but all you need is one bad experience with a cheap company to wish you had never gone down that road.
- In business under this name: 15 years
- Company size: 1 to 5 employees (full time)
- We manage the following property types:
- Single Home or Condo (valued under $250k)
- Single Home or Condo ($250 to $500k)
- Multi-Family (2-4 units)
- Multi-Family (5-19 units)
- Multi-Family (20-99 units)
- Multi-Family (over 100 units)
- We manage properties in: