Property management in Mid-County St. Louis, MO

Property management fees may vary depending on the type of property, location, number of units, condition, and occupancy. We will be happy to review your property and provide a proposal that will outline all services and fees associated with the management of your property. Typically, the larger the property the lower the management fee. Management fees range between 4% and 10%. The management fee percentage is based on gross receipts collected each month. Therefore, our fee is aligned with collection of rent.

Our focus is management of multifamily communities and self-storage facilities. We are selective in the properties we manage. We want to make sure we are good fit for the client based on the client’s goals and objectives. We will consider multifamily communities with a minimum of 25 units. We can manage communities anywhere between 25-750+ units. We will manage self-storage facilities with a minimum of 150 units or more. We do not manage individual single-family rentals.

Evictions are a pretty big topic, so we’ve written a blog post about it. Click here to read it.

We are rental property owners just like you and we care about your investment like it’s one of ours!
We have owned and managed rental properties since 1969. Our commitment to you is to manage your rental property with the same level of care, skill, and professionalism as we do our owned properties. We have an executive Certified Property Manager (CPM®) who leads the operations. Every property manager that manages our properties receives the Certified Apartment Manager (CAM) designation. Our firm is and has been a long time Accredited Management Organization (AMO®) through the Institute of Real Estate Management.

We license with Yardi and utilize their Yardi Voyager property management system including Rent Café. Our accounting and financial reporting is robust, timely, and accurate. Our residents and prospective residents have the option to lease an apartment, renew their lease, pay rent, request maintenance, and communicate with us online 24/7. Many of our prospective residents lease online then will visit the property to tour their actual apartment after approval. Our e-document system allows residents to e-sign their lease and other documents and those documents are automatically stored on our system.

We communicate with you when it is necessary and we are available to you when you need to communicate with us. We have a fiduciary responsibility to our clients that we take very seriously. Not only will we fulfill our responsibility to you, we will work closely with you to ensure we understand your goals and objectives then develop a plan to meet those goals. Communication is key to effective property management, so there must be open lines of communication with our client.
We can handle all facets of property management. As the property owner, you may relax and just provide oversight. We will take care of everything.

That’s easy! Not you! We answer the 3 a.m. calls. Our property managers are on-call for emergencies 24/7. We also offer 24/7 emergency maintenance. If a resident has a true maintenance emergency they may call our toll free emergency maintenance hotline and within moments will be connected to the maintenance technician on-call for the property. The maintenance technician will address the emergency in accordance with our policy.

Our financial and property reporting is robust so we will discuss with you which reports are available to you and you will let us know what level of reporting you want. Usually, we send reports to our clients on a monthly basis by the 15th of the following month. We need time to reconcile bank statements and complete general ledger adjustments. Reports are emailed to our clients along with a brief operational summary.

Below are just some of the reports available to our clients:

• Comparative Income and Expense Statement – This report compares actual income and expense to the budget for period-to-date and year-to-date. It also provides last year’s actual for period-to-date and year-to-date.
• Balance Sheet – This is a statement of assets, liabilities, and capital of the property at a particular point in time.
• Trial Balance – This is a list of all general ledger accounts contained in the ledger of the business.
• Accounts Payable Report – This report details all payments made from the property operating account. It identifies the vendor, check amount, and general ledger description.
• Reconciled Bank Statements
• Property Rent Roll Report – This report will show a detail of occupied and vacant units, monthly rent amount, other charges, move in date, lease dates, tenant name, unit number, and balance due.
• Resident Delinquency Report – This report will show a detail of all past due accounts including unit number, tenant name, last payment made, and account balance.
• Unit Statistics Report – This is a summary of occupancy and rent by unit type.
• Reasons For Move Out Report – This report details all move outs, length of residency, and reason for move out.
• Annual Operating Budget – The annual budget is prepared by us in consultation with our client. The annual budget is sent to the client before the end of the fiscal year.

Our clients are responsible for maintaining general liability insurance of at least $1 million/$2 million coverage and replacement cost property insurance. PEI must be named an additional insured or covered as the real estate manager for the property on the general liability policy. PEI maintains worker’s compensation insurance, employment practices liability insurance, errors and omissions insurance, cyber liability insurance, crime, and auto insurance.

We’d love a chance to answer any questions you might have, just schedule a consultation.