All Forum Posts by: Anna Washburn

@Mike Bonomo - not an attorney here, but I am an agent and an operator with over 100 units in the city. Have experience with both arbitrage and traditional single family homes in Philly. 

In the city, you're going to want to find something unique (of course) and that is Zoned CMX3 or above (CMX4,CMX5, IRMX, etc.). 

If it's a duplex or other multi-unit building you've come across or you have access to, then you may be in a good spot. 

Your next hurdle thereafter will be with the HOA/Condo association and navigating subletting & rental rules and regs. I do see this step as a big jump for an individual to make on their own, rather, if it's a a Professional Management company approaching the Association instead of an individual on their own, they have (in our experience) treated it differently and permitted the Airbnb.

Hope this is helpful - let me know your thoughts.

Hey @Austen Mueller! 

I would make your client aware that there is a current ordinance that is being put into effect on January 1st, 2023 where all STRs will have to get a limited lodging license and will only be able to rent for 30+ days at a time unless if the property is zoned CMX-3 or above then you can rent it out for less than 30 days. 

Otherwise, a good solution to this new ordinance that is being put into place is focusing on the MTR market/extended stay market as it seems there is becoming a new trend with traveling workers and corporate leasing staying at properties/units on a medium-term basis (2 months - 12 months). 

If you have any more questions don't hesitate to reach out!

All the best,

Josh