Property Management folks in St. Louis MO

[Prakash B.]

Hello BP members, 

Do you have any recommendation for the property managers located in St. Louis MO. I am looking for 5 efficiency units apartment complex that gross around 3.5K/month.  Any recommendation from your past experience would be of great help. Also do you know what percentage do they generally charge for the management fee or the breakdown of their fees from your experiences?

Thank you!

Thanks,

Prakash

[Brian Miller]

Hello @Prakash B.! I am an agent and investor in the St. Louis area with Mogul Realty. Our brokerage has a PM company that you can work together or independently with, and I have other PM companies that I can recommend if you want to send me a message. Most PM's are going to charge 10% for this type of building. When you get into the the 10-12 unit buildings, you'll see them drop their fees to 8%. Filling vacancies is typically equal to 1 month rent. So if the rent is $750 per month, they charge $750 for photos, marketing, showing the unit, background check, etc. There will also be fees for maintenance trip charges. We hve a fee sheet that I can send that may be helpful for you as well. Hope this helps and let me know if I can assist any further!