6 beds student housing in Philly?

[Forrest Hayashi]

Hi BP'ers,

Just want to ask everyone's opinion on this and know that i should have asked earlier.

Entered a contract to purchase a 6-bedroom SFH near University area and have been worrying about the following:

1. Is it Legal to rent six rooms with just regular rental license? It's zoned as RM1

2. Are students still looking for housing mid semester?

3. Anything i should be aware of doing such purchase?

Thanks!

[Dan Powers]

@Forrest Hayashi First off if you're able to find inventory in University City that does make sense price-wise certainly scoop it up. Yes, it is legal to rent 6 rooms under 1 lease as that's simply a 6-bed rental. You cannot rent the 6 rooms and have 6 different leases, that's renting my the room and is illegal. The zoning only comes into play if you wanted to convert the property to a duplex/triplex/quad. Students aren't typically looking for housing mid-semester, especially something of that size, but you never know its Ucity. Not sure if the purchase is as is, or inspection based, as long as there's no structural damage and the title will be clear that's the main things I look for.