Homeriver Property management Indy

[Wei Jie Yang]

Hi Guys,

I'm looking to buying a property in Indy that is being run/will be run by Homeriver Indy. Has anyone used them? Are they communicative? Are they one of the decent companies out there?

[Steve Rozenberg]

I know some of the people that are higher up in the company. I can not speak for them, but my understanding is that they are buying up current property management companies that are already established and letting them run as their own for a while before using scale and volume. 

I would do some research and see who they purchased and how they operated before.. chances are they were a good operation or homeriver would not have purchased them.

But with all that said... do your homework...

Look up www.NARPM.org and find many in your area

I would look up NARPM and start with them..Below are some questions I would think would be a good starting point for you to see who really treats their company like a business or a hobby.

Questions to Ask prospective management companies

• What are your average days on market for vacant homes?
• What is your average rent amount for all properties managed?
• What is your average work order cost for the owner?
• What is your average make ready cost for the owner?
• Are all my invoices uploaded to my owner portal?
• How do you advertise your vacant units?
• Do I receive video of my pre and post make ready?
• Do you have a setup fee?
• Do you upcharge on maintenance?
• When do you make owner payments? How often?
• Are you a Certified Property Manager?
• Are you a member of NARPM?
• What is your Guarantee?
• Do you provide move in and move out reports
• How many pictures do you take of the property prior to tenant moves in and after the tenant moves out
• Do you get weekly reports when the property is vacant what prospective tenants are saying about your home
• Do you provide monthly newsletters to your tenants
• Do you hold investor education classes to help me become a better investor
• Do you have single point portfolio based management services?
• How many properties do the owners actually own themselves?
• What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuits
• How familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?