Homeriver Property management Indy

5 Replies

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?

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? 

@Wei Jie Yang

I currently use them and have for 2 years. Generally, I would give them 2 stars out of 5. The good, they reacted quickly when something went terribly wrong. The bad, they are horrible communicators. They often don’t respond to emails or do 2 weeks later. They charged me the wrong amount, not in accordance with the contract. Although they admitted this, it is taking over 6 mo to resolve and it’s substantial (over $1000). Search them (and HomeRiver) in BP and you will find others commenting on them. Also, look at their google reviews. The reviews are all pretty accurate. I would not recommend them. I hope I’m not too late.

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