Cost guide
Management companies rarely publish complete pricing, which makes quotes hard to compare. Below is what owners in the Indianapolis metro typically pay, broken down by fee type, along with the questions that reveal the real cost.
These are market rates, not our rates. Leaseway is a matching service, not a property manager. We don't manage properties and we never bill owners — these figures are what local management companies charge, published so you can judge a quote before you sign it.
A headline percentage tells you very little on its own. These are the line items that determine what you'll actually pay over a year.
The recurring fee for day-to-day management: rent collection, tenant communication, maintenance coordination, and accounting.
Ask about this: Ask whether it is charged on rent collected or rent due. On rent due, you pay even in a month the tenant does not pay.
One-time fee when a new tenant is placed. Covers marketing, showings, screening, and lease signing.
Ask about this: This is the single largest variable between companies. A cheap monthly fee paired with a full-month leasing fee often costs more overall.
Charged when an existing tenant renews, covering renegotiation and paperwork.
Ask about this: Ask if it is waived when the tenant renews with no rent change — some companies waive it.
Some managers add a percentage on top of vendor invoices, or charge per work order coordinated.
Ask about this: Ask this explicitly. Markups rarely appear in headline pricing and can quietly exceed the monthly fee in a bad repair year.
A reduced fee some companies charge while the unit sits empty.
Ask about this: If a manager charges during vacancy, their incentive to fill the unit quickly is weaker.
A one-time account setup or property inspection charge.
Ask about this: Often negotiable, especially if you bring more than one property.
A first-year estimate for a single-family home at 9% management with a half-month leasing fee, assuming one tenant placement.
| Line item | Basis | Year one |
|---|---|---|
| Monthly management | 9% of $1,600 × 12 | $1,728 |
| Tenant placement | Half of one month's rent | $800 |
| Renewal fee | Not applicable in year one | $0 |
| Estimated total | Excludes repair costs | $2,528 |
That is roughly 13% of the year's gross rent. In a year with no tenant turnover, the same property would run closer to $1,728, or about 9%. Turnover — not the monthly rate — is what usually moves this number.
Worth being explicit about, since it explains why this service is free to you.
Location, type, unit count, and what you need help with. No cost, and no obligation to proceed.
One vetted company that serves your area and handles your property type — not a list of bidders, and not a call centre.
Only the matched company pays us, and only for the introduction. Your quote from them is not marked up because of it.