Worst St. Louis Cities to Invest | Best and Worst Municipalities for Investors

13/06/2024 24 min Temporada 1 Episodio 1

Listen "Worst St. Louis Cities to Invest | Best and Worst Municipalities for Investors"

Episode Synopsis

In the inaugural episode of the Saint Louis Property Management Podcast, hosts welcome listeners and introduce Aaron Wilson and Grant Cook, senior account executives at Avenue Real Estate Group. The primary topic of discussion centers on the best and worst municipalities to work with in Saint Louis County, providing valuable insights for property managers and investors.

Saint Louis County presents a unique challenge for property managers with its 88 municipalities, each with its own set of rules and regulations. These municipalities vary significantly in size, from populations as small as 10 to as large as 51,000. This fragmented landscape necessitates a deep understanding of local regulations, particularly the occupancy inspections unique to Saint Louis. These inspections, required whenever a new resident moves in, consume up to 30% of a property manager's time and complicate the management process due to varying requirements across municipalities.

The podcast highlights several municipalities that are more favorable for property management. Unincorporated Saint Louis County is noted for its lack of occupancy requirements, making it easier to work with. Chesterfield and Wildwood also stand out for their straightforward processes, particularly because they do not require permits. Ellisville is mentioned as generally easy to work with regarding inspections, and Clayton is praised for its efficiency, with next-day scheduling and the convenience of online payments.

Conversely, the podcast discusses municipalities that pose significant challenges. Florissant is described as particularly difficult due to its strict inspection rules and mandatory landlord registration, which often leads to frequent court dates for property managers. The complexity and additional costs of compliance can delay tenant occupancy and increase expenses. University City is another challenging area, with very thorough inspections that are slow to schedule and often costly for property owners due to stringent repair requirements. These municipalities require multiple inspections, adding to delays and financial burdens.

For property managers and landlords, the hosts offer several practical tips. Staying informed about the constantly changing regulations in each municipality is crucial. Utilizing online resources and keeping track of requirements can help manage properties more effectively. Hiring experienced property managers familiar with local regulations can streamline the inspection process and anticipate common issues. Patience and diligence are emphasized, as the complex regulatory environment in Saint Louis County demands careful attention to detail and proactive management.

The hosts also provide recommendations for investment areas. Ellisville, Chesterfield, and Wildwood are highlighted for their growth potential and favorable regulatory environments. Despite regulatory challenges, Florissant and Hazelwood are noted for offering good returns on investment. However, investors are cautioned to be aware in some high-ROI areas and to carefully evaluate long-term risks and benefits. Additionally, there is growing interest in areas like Highway K and St. Charles, which offer a mix of new constructions and existing homes, making them increasingly desirable for investors.

In conclusion, the podcast underscores the importance of being informed, patient, and proactive in property management. New property managers are advised to work with experienced professionals who understand the local market and can navigate the complex regulatory landscape. The hosts thank their guests and listeners, encouraging them to stay tuned for future episodes that will continue to explore the challenges and opportunities in property management in Saint Louis.

List of municipalities and instructions:
https://stlashi.net
http://www.avenuestl.com/st-louis-property-management-occupancy-permit-requirements-for-landlords