Rooming house license in Philadelphia
Can someone tell me how pricey the process is to get rooming hosuing license in Philadelphia? I was told I would have to hire a lawyer to bring my case to the city and to get it approved and it would cost a lot of money and time. Can I transfer the license to prospective buyer and have that as a selling point in future?
Some context: I have a 5 BR/2 BA single family home that's RM-1 zoned. I looked at rental analysis few well reviewed property managers gave and looks like I won't be able to recoup my monthly mortgage out of rental income if and when I have tenant in this property. Some suggested to get rooming housing license and rent per room to maximize income. I wanted to know more about this process and it seems like the philadelphia gov site doesn't have much resource on this. I am in the process of making some phone calls to lawyers but your input is greatly appreciated.
Originally posted by @Account Closed:Can someone tell me how pricey the process is to get rooming hosuing license in Philadelphia? I was told I would have to hire a lawyer to bring my case to the city and to get it approved and it would cost a lot of money and time. Can I transfer the license to prospective buyer and have that as a selling point in future?
Some context: I have a 5 BR/2 BA single family home that's RM-1 zoned. I looked at rental analysis few well reviewed property managers gave and looks like I won't be able to recoup my monthly mortgage out of rental income if and when I have tenant in this property. Some suggested to get rooming housing license and rent per room to maximize income. I wanted to know more about this process and it seems like the philadelphia gov site doesn't have much resource on this. I am in the process of making some phone calls to lawyers but your input is greatly appreciated.
Approval will greatly depend on which neighborhood you're in, which RCO hears it, and if they want to fight you on it. Which neighborhood is this in? I don't think rooming houses are very popular with neighbors so I'd be surprised if you were to gain approval unless you happen to be in a very apathetic neighborhood. If you do get approval, it would likely be financially worthwhile and it could transfer to your buyer.