Rental Property Investor · Los Angeles, CA · Member since 2023 · 4 posts · 7 votes
I own a LTR in the heart of the Fishtown neighborhood in Philadelphia. My renter is vacating June 30 and I am considering transitioning the property to a STR/MTR. I live in Los Angeles though, and do not have bandwidth to remote manage - looking for a trusted and experienced co-host in Philadelphia.
Make sure you are allowed to do STR - most Philly properties do not have the zoning that allows for STRs and you will be unable to get the license to upload to the STR platforms - now required for Philly properties. MTR is easier. Then the question is whether it is truly worth the effort for whatever added revenue it may give you. You need to learn the subject matter to succeed, like anything :-)