property management in S/Central Indianapolis

6 Replies

Originally posted by "ofgift":
Looking for info regarding vacancy rates, rents, timelines, etc. for single family residence. Thanks

Tell us more about why you want to know. The title implies a fairly large geographic region so there will be a wide range of correct answers.

Let me go into this a bit deeper.

Many of the numbers you are looking for a highly sensitive to a specific area or a specific type of property. In one city you can find different answers depending on how you ask the question.

If there are any property managers that want to comment we could discuss what goes into a rent survey. The survey is a formal report that is commonly used when a developer is looking to build new units in an area. It is a way to gauge the present demand. Like comps for establishing the price of a residential unit the rent survey has to focus on what would be comparable rental units.

John Corey

Sorry--I hadn't forgotten-I've been swamped, and now my brain is addled!
Basically, I'm interested in the vacancy rate of single family houses, middle income range. What does that mean, middle income? How much c/would a 3/2 house of maybe 1200 feet or so go for, and how long would it take to rent? Relatively safe area, and probably west of 65, south of Troy, west of 65, maybe to a couple of miles west of 31, probably north of County Line road, maybe a somewhat larger area.

How are houses selling there? Are prices dropping at all? What do you see happening there over the next year or two?

Check the public press and Craigslist plus other things. That is one way to get a sense of the market.

Contact property managers who work in the area. Ask them what rents are like. They should have properties on the market and under management so some hard data.

If you find a property manager you want to work with some will offer opinions before you buy a property. That will tell you if they will manage it for you and what they expect it to rent to be.

John Corey

I have an agent. It's not that I don't trust her, but like human beans, she has her biases, good points and not so good points. I want other opinions on the market, too. No offence intended, but working from a distance, I want all the info I can get, from several knowledgable people, including severa management companies.

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