Potential Short term rental in West Chester PA

Potential Short term rental in West Chester PA

New to Real Estate · WEST CHESTER PA · Member since 2021 · 27 posts · 5 votes

I am in West Chester PA. I currently have 1 rental property and am living in an end unit town house that I am currently renting. The HOA does allow short term renting. Is anyone familiar with the area as for as renting short term?

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Michael BaumPro Member
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
3y

Take a look on AirBNB and VRBO @Scott Rovner. See what is in the immediate area. What is their occupancy and nightly rate?

You could also look at FurnishedFinder.com and see what is nearby for a MTR. Is your place close to a big hospital, university etc?

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  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    Take a look on AirBNB and VRBO @Scott Rovner. See what is in the immediate area. What is their occupancy and nightly rate?

    You could also look at FurnishedFinder.com and see what is nearby for a MTR. Is your place close to a big hospital, university etc?

  • New to Real Estate · WEST CHESTER PA · Member since 2021 · 27 posts · 5 votes
    3y

    yes the location really is great. I am right near West Chester university and close to Chester county hand Paoli hospitals. There is endless shopping, eating within minutes of the property it is also right by major roads and highways 

  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    So I just re-read your post. You want to rent the unit you are currently renting?

  • New to Real Estate · WEST CHESTER PA · Member since 2021 · 27 posts · 5 votes
    3y

    Yes, right now i am just kicking the tires on it. I am waiting to hear back if the landlord would be open to it. But I think the property and area have a lot working in its favor

  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    Ahhh ok. So that is arbitrage. Take some time and do a search. There is a lot of info on it. Mostly negative.

  • Real Estate Agent · Delaware County, PA · Member since 2022 · 7 posts · 5 votes
    3y

    scott if your parents need help getting the place rented have them give me a call. 

  • New to Real Estate · WEST CHESTER PA · Member since 2021 · 27 posts · 5 votes
    3y
    Quote from @Laura Pollera:

    Scott if your parents need help getting the place rented have them give me a call. 


     not sure where that is coming form. I currently have 1 property I am renting out. I am currently living in a 3 bedroom townhouse that my wife and I are renting. I was curious if anyone has any info on the possibility of turning that into a arbitrage. The area is great close to pretty much everything you can think of. 

  • Rob LawrenceBusiness Member
    Real Estate Agent · West Chester, PA · Member since 2017 · 266 posts · 94 votes
    3y

    Hi Scott, if you call the WC borough, they will tell you they aren't allowed.  However people are doing it, and there is an advocacy group around it.  Not sure the exact latest if they have put rules in place.  Last I checked, there was not an actual law against it.  My broker did try it, found not a ton of demand, and switched to a long term rental.

  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    So, no one here on BiggerPockets will say to break the law in order to do STRs.

    Most municipalities say that if it isn't spelled out in the zoning, it is illegal. If West Chester says it is illegal when you call, it is illegal.

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