Prop Mgr
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Prop Mgr (by DannyC [MO]) Mar 23, 2019 6:05 PM
       Prop Mgr (by Robin [WI]) Mar 24, 2019 10:29 AM
       Prop Mgr (by DannyC [MO]) Mar 24, 2019 11:27 AM
       Prop Mgr (by Jan [MO]) Mar 25, 2019 12:17 PM
       Prop Mgr (by #22 [MO]) Mar 25, 2019 12:40 PM

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Prop Mgr (by DannyC [MO]) Posted on: Mar 23, 2019 6:05 PM

I had a friend contact me. He has a friend who lives in TX, but owns property in the St. Louis area. The guy that lives in TX is looking for a property manager for his properties here in STL. I handle all my own properties, and don't have any real knowledge of managers in the area. Does anyone have any management companies in the STL area that you would suggest?


Prop Mgr (by Robin [WI]) Posted on: Mar 24, 2019 10:29 AM

I think most people on this forum do their own property management. Hence their presence on the forum!

Prop Mgr (by DannyC [MO]) Posted on: Mar 24, 2019 11:27 AM

I agree Robin. I was just taking a shot to see if anyone knew of anyone. Thanks

Prop Mgr (by Jan [MO]) Posted on: Mar 25, 2019 12:17 PM

Most real estate agents in the STL area don't do property management. If they tell you they'll find you a tenant (going rate is one month's rent), they'll slap your listing on the MLS and do nothing else. Because there's not enough money in it.

There are only two companies in the St. Louis area that I know of that do property management: West End Properties and Worth Clark Realty. These companies also sell properties, but that's not their primary focus. They'll find you a tenant for one month's rent. They'll also be the "property manager" for some fee, usually ab out 10% of the rent or thereabouts. The fee may depend on how much business you give them.

I once hired one of these companies to find me a tenant. My agent, who initially seemed like a reasonable guy, and I had differences on whom I should accept as a tenant. I ended up firing the guy and found my own tenant shortly thereafter.

If you recommend either of these companies to your friend, make sure he realizes that the agent's primary purpose is to FIND A TENANT - any tenant. And if that tenant doesn't work out, he will FIND ANOTHER TENANT. Because **he gets paid every time he finds a tenant**. So it's in his best interest to have to find you a tenant. Whether the tenant meets your criteria, or is a good long term tenant, is of no concern to the agent. This is what we affectionately call a conflict of interest.

I agree with Dave Ramsey that being an out of town landlord is being stupid. You just can't do it from a distance and if you try, things will likely not go well, sooner or later.

Prop Mgr (by #22 [MO]) Posted on: Mar 25, 2019 12:40 PM

I would avoid the 2 PM co s I worked with. I'll PM you if youd like, but both had 2-3 letter names, one starting with an h and one starting with a b. They were terrible. Rpm gateway might be worth trying, I talked to them and almost gave them a shot.

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