I am under contract for a property in the Temple University/ 19121 zip area of Philadelphia and I am looking for a property manager that does not strictly handle university students/rentals so as to not limit my tenant pool. Does anyone have any recommendations of a PM that fits the bill?
Thanks in advance!
@Danielle Dunn if you are purchasing at Temple university, you may want focus on student rentals. Higher rents, better quality applicants w co-signers.
Consider reaching out to @Joe White --- he manages rentals in Philadelphia and he is an active member on BP.
That said, @Irfan Raza is probably correct that your best option for tenants are students. While the area around Temple got a lot better, it's still not exactly the most attractive area to live in Philly.
Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.
OCF Realty and JG Real Estate are the top managers in Philadelphia. You can find their websites online.
Hey Danielle MK management is great for Temple University rentals. I have a great contact over there let me know if your interested.
@Danielle Dunn You are smart not isolating your market - many investors succeed with students, and many of them around Temple. But succeeding with student rentals depends on how many rental units are available, compared to the amount of students there are. If renting to Temple students alone is lucrative; then more and more investors would do it. At some point we do see more student rentals than students. In the Temple area I know of two investors that lost fairly badly at that game; due to low demand.
Yes, to renting to students and yes, to your smart observation to keep all markets available.
@Danielle Dunn I have a property manager to recommend. PM me if you are interested.