Property Management in St. Louis MO

[Chandrika Vasudevan]

I've been dealing with a lot of challenges with my long distance portfolio - I bought 2 SFH and a multifamily within this past year in St. Louis, MO and I've had such a hard time finding the perfect management to look after my properties.

The first property manager exploited us and charged us for issues that he did not fix and the second one (who was an amazing management) just terminated citing that they are focusing more on STRs. 

If there are people here investing in the area, can you please share contacts of great property management companies in St. Louis, MO? Thanks!

[Drew Sygit]

Many OOS investors set themselves up for failure because they don't truly take the time to understand:

1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.

2) The Class of the PROPERTY they are buying - which is relative to the overall area.

3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.

4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.

5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.

6) That OOS property Class rankings are usually vastly different than the local market they live in.

7) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.

8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

9) Class B usually also okay, but needs more attention from owner and/or PMC

10) Class C can be relatively successful with a great PMC (do NOT hire the cheapest!), but very difficult to DIY remote manage.

11) Class D pretty much requires an OWNER to be on location and at the property 3-4 times/week. Most great PMCs will not manage these properties as they understand most owners won’t pay them enough for the time required and even then it’s too difficult successfully manage them.
***Only exception is if an owner has plan & funds to reposition Class D to Class C or higher.

https://www.biggerpockets.com/forums/776/topics/960183-what-they-dont-tell-you-about-cheap-rental-properties?highlight_post=5562799&page=3#p5562799