Dint know about the rental license for two year question.

[Account Closed]

hello! I own a house in philadelphia but I dont live in philadelphia so i hire a manager for the rentals of the house. So I dont know much about the rental license stuff so I thought the rental manager will get everything done for me and the house have been rented out for two years and this week he told me to get a rental license and I have a idea now since I read it online but my fears is do i need give all the rental money back for the two years without the rental license? Can the tenant sue me and have me pay back all the rental money? Do manager take some responsabilities? Thanks

[Kim Meredith Hampton]

Lenny,

If they (PM) are a real professional property manager, they should know the laws of your state and area. As others stated, this does not relieve you from responsibility, but performing some due diligence goes a long way in the success of your real estate investment.
I would simply ask “why” are they just now asking this after two years; is it something new the city voted on it has this been in affect for sometime now??