All Forum Posts by: Zane Britton

Quote from @Nathan Gesner:

Quote from @Zane Britton:

I currently have a property(duplex) in central Pa under contract and the rents are a good amount below the average for that market. Are there any laws in Pa that say you need to give a certain times notice before raising rent? I plan on raising the rent 10-15%($55-$85) per unit and I was going to give them a 60 day notice prior to doing that. Thanks In advance! 

I'm not aware of any limitations on rent increases, except those imposed by the lease agreement.

PA Rent Laws

 Thank you, Nathan! 

I currently have a property(duplex) in central Pa under contract and the rents are a good amount below the average for that market. Are there any laws in Pa that say you need to give a certain times notice before raising rent? I plan on raising the rent 10-15%($55-$85) per unit and I was going to give them a 60 day notice prior to doing that. Thanks In advance! 

Quote from @Matthew Niemynski:

Quote from @Zane Britton:

After 6 months of educating myself and searching for a deal, I have my first rental under contract. It’s a duplex, 2bd 1 bath in each unit. Price: $62,500, I’ll be putting 20% down on a 20 year mortgage. It should cash flow around $300/month after mortgage and expenses are paid. Current rents are $550 but average rent in that area for 2bd 1bath are between $750-$850, so there is potential for more cash flow. 

Sounds like a great deal! Where did you end up finding this property?

 I found it in my hometown Williamsport, Pa. I toured it back in March and then the listing came down. I recently reached out and managed to make an off market deal 

Quote from @Carolyn Yates:

Congratulations!  Sounds like a great deal!  What market is your property located in?  I am hearing a lot about investing in the midwest or parts of the south.  I am in the FL market and there is nothing close to that price point in my market.  Would love to know where else to look.

That property is in Williamsport, Pa. It’s a cheaper area, but not a whole lot to do there. There’s two colleges in town. That’s my home town so I figured it’d be a good cheap place to start. I live in southeastern Pa now, outside of Reading. There’s a good market here, but pricier. It’s closer to beaches, Philadelphia and other nice places. A lot of job opportunities here too. Hope this helps! 

After 6 months of educating myself and searching for a deal, I have my first rental under contract. It’s a duplex, 2bd 1 bath in each unit. Price: $62,500, I’ll be putting 20% down on a 20 year mortgage. It should cash flow around $300/month after mortgage and expenses are paid. Current rents are $550 but average rent in that area for 2bd 1bath are between $750-$850, so there is potential for more cash flow.