St. Louis, Missouri, is one of the largest metros in the state, offering a low cost of living and good property appreciation. These aspects make the city an excellent choice for property investors.
Making sound investment decisions is a good way to earn passive income, but it's not without risks. A loss of earnings due to tenant evictions is one of these risks.
Fortunately, there are things you can do to limit these unpleasant situations. Read on to find out more about eviction protection for Missouri landlords and how it can help you navigate this complex issue.
Valid Reasons for Evicting Tenants in Missouri
In Missouri, landlords can only evict tenants if they disregard their lease agreements in some way. For instance:
- Non-payment of rent
- Excessive damage to the property
- Remaining in the unit after the lease agreement expires
- Criminal activity
Landlords must follow the state's legal procedure for evicting tenants. They can't remove them forcibly or lock them out of the accommodation.
In each case, this means issuing the tenant with the correct notices to quit. If the tenant does not comply, the landlord can apply to the courts for an eviction order.
In some cases, the tenant may object to the eviction. Missouri offers comprehensive tenant legal support in these cases, which can delay the process.
What Is an Eviction Protection Plan?
Most property management companies in Missouri offer eviction protection plans for landlords. These are a type of insurance that helps alleviate some of the costs and risks associated with eviction.
In most cases, eviction protection plans only apply to tenants who are placed by the property management firm in question. Some property management firms might cover existing tenants after a trial period of a few months.
Eviction protection plans include financial assistance and guidance if you need to evict tenants and guarantee that the firm will find new tenants within an agreed time frame. They do not include:
- Court-imposed fines
- Legal fees
- Moving costs
- Repair costs
Overall, property management firms help their landlords avoid evictions through a range of services like tenant screening and property inspections.
Additional Eviction Protection Strategies
Eviction protection plans and landlord insurance options can alleviate the stress and loss of income associated with evictions, but there are other ways to avoid the hazards associated with evictions.
A comprehensive tenant screening process, in line with prevailing Missouri laws, is one way to limit evictions. These background checks usually include:
- Employment verification
- Identity verification
- Landlord references
Effective rent collection strategies can help tenants stay up-to-date with payments and ensure landlords keep track of past-due amounts. Routine property inspections can reveal any issues with tenants early on and provide opportunities to remedy these as soon as possible.
Hire a Property Manager in St Louis, Missouri
Eviction protection plans are among the services offered by property management companies to help landlords avoid or mitigate the risks of tenant evictions.
PMI STL Metro is a full-service rental property management company based in Chesterfield, MO. We can help you make the most of your investment properties through effective tenant screening, rent collection, and property inspections.
We are here to support our landlords and tenants with outstanding customer service using the latest technologies. Gain peace of mind and maximize your earnings with comprehensive property management.
