MTR In Philadelphia Help

Philadelphia, Pennsylvania
Medium-Term Rentals
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MTR In Philadelphia Help

Jessica DiPonzianoPro Member
Investor · Member since 2023 · 46 posts · 25 votes

Hey there,

Does anyone here have experience in running a mid-term rental in Philadelphia? I would love to touch base and hear your process, management companies you recommend (if any), how do you find your renters (through a service or on your own?). Also if you've had success or recommend a different path.

Thanks in advance!

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Jamie Banks
Real Estate Consultant · Reston, VA · Member since 2022 · 513 posts · 521 votes
3y

Hi Jessica, I have two MTRs in Philly and I have a MTR property management company. Just sent you a DM to discuss more!

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  • Jamie Banks
    Real Estate Consultant · Reston, VA · Member since 2022 · 513 posts · 521 votes
    3y

    Hi Jessica, I have two MTRs in Philly and I have a MTR property management company. Just sent you a DM to discuss more!

    4Reply
  • Eric Greenberg
    Investor · Philadelphia, PA · Member since 2019 · 618 posts · 430 votes
    3y
    Quote from @Jessica DiPonziano:

    Hey there,


    im new to the space but recently converted a unit to a fully furnished MTR and was able yo get it tented out fairly quickly for 3 months. Happy to talk in more details but @Jamie Banks was a huge help!

    3Reply
  • Nadia Bipialaka
    Member since 2023 · 19 posts · 7 votes
    3y
    Quote from @Jamie Banks:

    Hi Jessica, I have two MTRs in Philly and I have a MTR property management company. Just sent you a DM to discuss more!


     Hi Jamie I'm interested in speaking to you about MTR in Philly as well. If there are any laws I need to know or if its even allowed in the area of Philly I'm looking at.

    0Reply
  • Nadia Burgess
    NYC| PDX | PHL · Member since 2017 · 2 posts · 0 votes
    3y

    Hi! I'm interested in learning more about the MTR market in Philly as well @Jamie Banks. I am in the midst of my first renovation and considering renting. Would love to chat further.

    0Reply
  • Connie Phung
    New to Real Estate · Yorba Linda, CA · Member since 2023 · 3 posts · 0 votes
    3y

    @Jessica DiPonziano @Nadia Bipialaka @Nadia Burgess

    Hi All!

    I am closing on my first philly investment propoerty next week. 

    I am aware that Airbnb and VRBO requires city license "proof" in order to list on their website. Can someone confirm if the city's "Housing Rental License" is sufficient to list on Airbnb and VRBO for MTR??

    0Reply
  • Alan AsriantsBusiness Member
    Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
    3y
    Quote from @Connie Phung:

    @Jessica DiPonziano @Nadia Bipialaka @Nadia Burgess

    Hi All!

    I am closing on my first philly investment propoerty next week. 

    I am aware that Airbnb and VRBO requires city license "proof" in order to list on their website. Can someone confirm if the city's "Housing Rental License" is sufficient to list on Airbnb and VRBO for MTR??

     Hey Connie, you will need a Phila rental license to lease out property for more than 30 days. 

    So far there are no other requirements for MTR.

    Knowing Philadelphia, this can change quickly lol @Eric Greenberg

    [email protected]267-767-0111
    Alan Asriants - New Century Real Estate 592 Reviews
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    0Reply
  • Megan Sullivan
    Brooklyn NY · Member since 2023 · 10 posts · 7 votes
    2y

    Hey all! I would love to revive this thread - 

    I'm currently renovating a place in Bella Vista/Hawthorn area of Philly and am trying to decide whether I should furnish it and try MTR or just go with LTR. 

    From looking at Furnished Finder, Craigslist, Fbook marketplace, Zillow, the rents for MTR vs LTR don't seem that different (although are a bit all over), and I'm having a hard time assessing demand for MTR. 

    Its a 2Br/1.5ba, great neighboorhood, not too far from Jefferson, Pennsyvania Hospital, also doable for Penn/CHOP/Temple as well. 

    @Eric Greenberg @Jamie Banks @Jessica DiPonziano @Connie Phung @Nadia Burgess

    How are your MTRs doing in Philly? For what types of renters have you been finding success? (eg Travel medical, post grad, insurance relocation, other random etc)?

    Looking forward to hearing from you!!

    0Reply
  • Jamie Banks
    Real Estate Consultant · Reston, VA · Member since 2022 · 513 posts · 521 votes
    2y
    Quote from @Megan Sullivan:

    Hey all! I would love to revive this thread - 

    I'm currently renovating a place in Bella Vista/Hawthorn area of Philly and am trying to decide whether I should furnish it and try MTR or just go with LTR. 

    From looking at Furnished Finder, Craigslist, Fbook marketplace, Zillow, the rents for MTR vs LTR don't seem that different (although are a bit all over), and I'm having a hard time assessing demand for MTR. 

    Its a 2Br/1.5ba, great neighboorhood, not too far from Jefferson, Pennsyvania Hospital, also doable for Penn/CHOP/Temple as well. 

    @Eric Greenberg @Jamie Banks @Jessica DiPonziano @Connie Phung @Nadia Burgess

    How are your MTRs doing in Philly? For what types of renters have you been finding success? (eg Travel medical, post grad, insurance relocation, other random etc)?

    Looking forward to hearing from you!!


     My property in Philly is doing well. Its about 80% occupied by insurance relocation tenants and I’m currently getting 3 times long term rent

    0Reply
  • Megan Sullivan
    Brooklyn NY · Member since 2023 · 10 posts · 7 votes
    2y

    Thanks @Jamie Banks! would you be up to connect further on this? I'd love to hear/learn from your experience.

    0Reply
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