St. Louis vs Nearby Cities
St. Louis falls toward the middle of the playing field when you compare real estate prices on the eastern edge of Missouri. The city’s median home value is around $150,000, and the median listing price tends to stay securely below $200,000. There are times that prices can spike higher, but it’s common to see the median price per square foot under $150. These prices are slightly higher than those found in most smaller cities nearby. For instance, median listing prices tend to stay below $150,000 in Rolla and Farmington. It’s common for buyers to pay well below $100 per square foot in these cities. There are some higher prices in the area. Chesterfield often boasts a median listing price close to $450,000.
St. Louis Property Managers
Property managers do more than communicate with tenants and ensure that all rental units are occupied. They also oversee all maintenance and landscaping crews while finding reputable contractors for repairs and renovations. Many managers are also involved in accounting, rent collection and even evictions.
St. Louis Property Management Company Fees
While some property managers are willing to work for a flat fee, most ask for a percentage of the rent collected from tenants each month. This is the basic management fee, but most will also charge leasing fees when they find new tenants to fill vacant units. Alternatively, some managers may ask for a vacancy fee.
Missouri Landlord/Tenant Laws
- Before filing for eviction, Missouri landlords must give tenants five days to either move out or pay all outstanding rent.
- If a landlord has proof that a tenant has used a rental unit for prostitution or other illegal activities, they can serve a notice giving the tenant 10 days to vacate the property.