St. Louis, MO: Gateway to the West
With 301,578 residents, St. Louis is the second-most populous city in Missouri. St. Louis has a diverse economy, with several Fortune 500 companies located in the area. Colleges and universities in the city include Saint Louis University, Washington University in St. Louis, and the University of Missouri-St. Louis.
There are a number of notable churches in St. Louis as well, such as the Cathedral Basilica of St. Louis and the Basilica of St. Louis, King of France. Performing arts companies that call this city home include the St. Louis Symphony Orchestra and the Saint Louis Chamber Chorus. Other attractions in terms of arts and culture include the Fox Theatre, the Saint Louis Art Museum, the Contemporary Art Museum of St. Louis, and the Missouri History Museum.
Sports also play a significant role in the culture of St. Louis, with professional teams such as the St. Louis Cardinals (MLB) and the St. Louis Blues (NHL) residing in the city. Other points of interest include the Gateway Arch, the St. Louis Zoo, the Missouri Botanical Garden, and the City Museum.
What Is St. Louis’s Rental Market Like?
Rental property investors are always on the lookout for the next “it” destination, and St. Louis could be the very place you’re looking for. Why is this Missouri city’s rental market worth your time?
First of all, the city boasts a high renter population. In fact, 56.3% of the residents in St. Louis rent their homes. This means landlords have a wide pool of potential tenants to choose from. The vacancy rate in St. Louis is also relatively low. In 2019, the city had a vacancy rate of 5.21%, which was slightly below the national vacancy rate of 5.97%.
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Additionally, St. Louis offers decent returns. The average rent for an apartment in this city is $1,036. Thirty-nine percent of apartments in St. Louis fall between the $701 to $1,000 rental range, while 24% fall between the $1,001 to $1,500 range. While not as high as other big cities, rent in St. Louis is still worth the investment.
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Beyond that, Missouri is a generally landlord-friendly state. Landlords won’t have much of a hard time processing evictions here when it comes to non-payment of rent. Plus, there is no rent control.
How a St. Louis Property Management Company Can Help
St. Louis has an attractive rental market, making it a target for many property investors. However, rental management takes more than just capital. Owners need to act as landlords and carry out a number of challenging tasks. This includes ensuring your property is up to code, preparing lease agreements, and upholding the landlord-tenant laws in your locale.
For a large majority of landlords, it makes more sense to outsource the job to a St. Louis rental management company. With professional help, you can delegate most (if not all) of your duties to an experienced manager. While no two companies are exactly alike, services typically encompass the following:
- Rental property advertising
- Tenant screening
- Property showings
- Rent setting and collection
- Lease agreement preparation
- Routine inspections (including move-in and move-out inspections)
- Lease terms enforcement
- Maintenance and repairs management
- Tenant support
- Budget management
- Tax preparation
- Eviction assistance
Find the Best Property Management in St. Louis
The search for the right rental management company begins with a single step. Take that step today using Rental Choice’s comprehensive online directory. Browse our database according to city or state to find the best management company that suits your needs and budget!