Kansas City, MO: The City of Fountains
Kansas City, known fondly by both residents and tourists as “KCMO,” has an estimated population of 508,090. It is the largest city in Missouri both in terms of area and population. As the location of the Kauffman Stadium fountains, the city is nicknamed “The City of Fountains.”
Kansas City is famous for its diverse arts and culture scene as well as its local cuisine. It is the birthplace of Kansas City-style barbecue and strip steak, and there are many craft breweries in the area, too. The city is also where Kansas City jazz was developed.
There are many points of interest in Kansas City. These include the Nelson-Atkins Museum of Art, the National WWI Museum and Memorial, the Kansas City Zoo, the Kemper Museum of Contemporary Art, the Starlight Theatre, the Folly Theater, and the Kauffman Center for the Performing Arts. Kansas City is also home to major sports teams such as the Chiefs (NFL) and the Royals (MLB).
How Is Kansas City’s Rental Market?
Kansas City has an affordable real estate market. The median listing price for a home here is $140,500, which is 38% below the national median. Yet, the city still has a sizable renter population, making it a great place for rental property owners. In fact, 47% of the city’s residents rent their homes.
Image via towncharts.com
Additionally, rental property owners can expect good returns in Kansas City. The average rent for an apartment here is $1,103. This is slightly above the national average and also represents a 6% year-over-year change. Only 8% of the apartments in Kansas City have a rental rate below $700.
Image via rentcafe.com
Beyond that, Missouri is generally a landlord-friendly state. Landlords will find eviction proceedings relatively easier here, particularly when the grounds for eviction are non-payment of rent.
Why Go with a Kansas City Property Management Company?
When it comes to rental management, buying the property is just the start. Property investors must then become landlords and fulfill numerous responsibilities. This includes finding tenants, managing tenant complaints, overseeing maintenance, enforcing lease terms, collecting rent, and more. Additionally, landlords have to know how to handle bad tenants, too.
Because of the burdensome workload, it makes sense for landlords to just outsource the job to a Kansas City rental management company. Professional managers can fulfill most of the landlord’s responsibilities. In the meantime, you can just sit back and wait for your rental income to start coming in.
Not everyone needs a rental property management company. However, if any of these situations apply to you, it is time to get professional assistance:
- You lack time for or expertise in rental management.
- You live far from your rental unit or home.
- You’re not interested in hands-on property management.
- You own multiple rental properties.
Where to Go From Here
The search for the best Kansas City rental management company can be exhausting. Start your search right with the help of Rental Choice’s detailed online directory. We list down property management companies by area, including ones in and around Kansas City.