Overlooked Multifamily Landlord Expenses in Philadelphia 2019
I am currently seeking a 1-4 unit multi family property in Philadelphia. I have been analyzing many properties to find one that fits my criteria. I am finding there are some expenses associated with being a landlord in Philadelphia that may not apply to other locations. Some of those expenses being a Rental License $50 per unit annually, Fire Alarm License/ Certification $225 plus monthly monitoring fees, Certificate of Rental Suitability $25, Business Privilege License $300 per entity.
Correct me if I am mistaken on the fees I have discussed. What other expenses are Philadelphia Landlords paying that would be helpful to know when analyzing potential deals?