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Updated about 5 years ago on . Most recent reply

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74
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Pat Hamilton
19
Votes |
74
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Rental License / Rental Suitability --- huh

Pat Hamilton
Posted

So, I just purchased my first investment property in Philadelphia. It needs minor work I think (it definitely needs new flooring and painting, but I also might want to replace the ugly kitchen and bathroom).  I will work on this stuff myself, but I'm not sure how long it will take.  I may have a project coming up at work where I'll need to travel extensively.  While I'm in Philadelphia and I have time, I want to get the rental license out of the way because I hear I could run into some issues and it might be time consuming.  I couldn't do it online so I need to go downtown.  I'm worried that if I get the rental license and an inspector comes before I do the work, I'll get violations and stuff.  A rental license doesn't mean it is rental ready...right?  It just means that I want to rent it out in the future.  It is good for a year right?  I think the rental suitability certificate expires in 60 days, not the license?  So my thought is:

1:  get the rental license

2:  fix it up (it might take a month or 3 months, I'm not sure)

3:  advertise for tenants and find a few 

4:  get rental suitability certificate 

5:  make sure I get a lease signed 60 days after getting suitability certificate (give tenant that wonderful brochure...just print it out at staples

6: renew rental license every year

My question is, at what point does an inspector come? 

Most Popular Reply

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13,450
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
8,349
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13,450
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

The first thing you’ll need is a “Commercial Activity License” (formerly known as Business Privilege License), which was free last I checked. @Yuriy Skripnichenko put together a good thread some time ago itemizing the Philadelphia rental “red tape” requirements - I suggest you look it up.

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