St. Louis has an eclectic architectural style. There are large modern apartment complexes, but there are also huge Victorian and Italianate homes that have been sectioned into apartments, small two- and three-unit row houses, and cozy brick gingerbread houses for rent.
Older St. Louis homes come with some challenges for the landlord. For example, many old St. Louis houses still have knob and tube wiring. While not necessarily dangerous, this old electrical system will not support the needs of modern electronics. Updating electrical and plumbing in old buildings is costly, but might be necessary to attract tenants. Basements are also common in the St. Louis region. A leaky basement can be a constant source of headaches, even if it’s only used for laundry facilities or tenant storage.
Speaking of leaky basements, being in the Midwest means St. Louis gets its share of heavy rain and springtime snow-melt. Foundation issues due to this excess moisture are common in the region. The occasional storm with damaging winds, hail, and even tornadoes are something that midwesterners take for granted. Water in the basement, hail-damaged roofs and siding, and downed tree limbs can take up a lot of a landlord’s time and money.
St. Louis enjoys (or some might sy endures) all four seasons. Hot, humid summers and cold, blustery winters are common. Functional and efficient HVAC systems and good windows are a must for a St. Louis landlord’s properties.
The city of St. Louis is unusual because it is not part of any county but instead operates both as a city and its own county. St. Louis County is a separate county from this entirely, surrounding the city to the north, west, and south. The county is comprised of more than 170 different cities. There may be different rules for landlords to follow, depending on whether their rental property lies within the city limits, in the county, or elsewhere in Missouri.
One example of the difference is in licensing and permits. While landlords in Missouri aren’t required to have a license to rent property, the units themselves may be subject to inspections and occupancy permits with each new tenant. The procedures and fees for these inspections vary, but their purpose is to make sure a property is safe and meets all of the appropriate code requirements. City properties are subject to a Housing Conservation District Inspection. In the County, it’s called a Residential Rental License. A St. Louis landlord should know the details of what the building’s municipality requires. Failure to comply can result in hefty fees.
Counties and municipalities can have specific rules about things like the number of people allowed to occupy a rental property, whether a landlord must allow a tenant to sublease, and even how many and what types of notices are required before eviction proceedings.
Missouri has strong tenant protection laws. St. Louis landlords must know what they are and are not allowed to do.
These are just a few examples of things that a St. Louis landlord should know. Encroaching on a renter’s rights can lead to a lawsuit. The St. Louis Landlord and Tenant Handbook can help with these details.
Evictions are unfortunate, but they’re sometimes necessary. A St. Louis landlord should know when it is their legal right to evict a tenant. A formal eviction requires a lawsuit be filed, a judgment obtained in court, and the sheriff to execute the eviction notice. Even though it may seem that Missouri laws favor tenants, there are some “deal breakers” that allow landlords to make bad tenants leave the property swiftly.
Certain lease violations, subletting without consent, or illegal activities such as possession or sale of illegal drugs, gambling, or prostitution allow a landlord to vacate the premises with only 10 days’ notice.
The best way to avoid evictions is to do a thorough screening and background check of all potential tenants. It can save a lot of headaches and money to know you are renting to someone reliable and conscientious.
Before launching into renting properties, a St. Louis landlord should know what it will cost them. As each point on our list has pointed out, certain aspects of renting in St. Louis—or anywhere—can cost time and money.
Property owners must know the local rental market. They need to determine a fair rental price that will cover all of the repairs, maintenance, and administrative costs that come along with running a rental property, not to mention the mortgage, taxes, and insurance. And obviously, they will want to make a profit rather than simply breaking even. Taking on a mortgage for a rental property will affect an individual’s credit rating. It may be more difficult to borrow for their personal home or additional properties.
It’s worth noting that being a landlord isn’t all about money. Choosing to manage the property themselves will take a lot of time and effort. One small rental house might not be a big deal, but there can come a time when doing your own property management can be a bad idea.
Every St. Louis landlord should know that there is help out there in the form of property leasing and management companies. Hiring a company like Select Leasing & Management is an efficient and economical way to ensure that things are run the way they should be.
A property management company will screen tenants, handle repairs and maintenance, rent collection, and even evictions if need be. They stay informed about the latest state, county, and municipal laws and regulations, so you never have to worry about compliance issues. In short, they know the things that every St. Louis landlord should know.
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12851 Manchester Rd., Ste 110
St. Louis, MO, 63131
