All Forum Posts by: Mike B.

Thanks everyone for the recommendations. I'm in an owner occupied duplex. I have no problem getting a check etc but with new tenant they asked to do electronic payments. Just trying to figure out the best, safest option. Sounds like more to PayPal and venmo then I realized. Cozy and some other sites sound good. Will investigate further as I plan on acquiring more retinal properties and want to be ready to streamline things. Thanks for the recs!

Creative comfort solutions. Used them and they were very fair, efficient workers. Highly recommended

Hi all Was curious for the independent landlords (those acting as their own property manager) what's your preferred method for collecting rent and keeping costs down at the same time. I previously used an electronic service but they charged almost $10/month. Thus I told my old tenant to drop a check in the mail. I only have 1 property currently so no big deal with managing paperwork. I have a New tenant moving in now, prefers electronic payments so I'm using PayPal in the interim. What programs/websites do you use? Do you collect rent by other means? (Eg check in the mail)? Any other advice on this? I like simplicity and if possible to avoid delay in ACH transfers between accounts. Thanks

@Kimberly Dunbar

some online resources that have been pretty helpful (and cuts down time going to L&I physically) are:

• http://www.phila.gov/zoningarchive/ **BEST site.. can see ALL old documents on record.  This is what you would use to see what zoning and/or past permits were pulled.  This site was the one that told me my duplex was a former gaming hall and soda/beer distributor way back in the day!  Also showed records of when they converted it to residential living in the 90s. 
• phila.gov/li (can view property permits, violations, etc)
• phila.gov/opa (can view tax records/balances)

@Kevin R... All good options as discussed in the other posts.  I worked with Creative Comfort Solutions when I purchased my duplex, which had a similar issue with that you described.  In the end, HVAC was added to the larger apt and the boiler was upgraded to a newer unit for the smaller unit (which can use window AC units).  At the time they did mention that there were Philly-specific incentives for HVAC, depending on whats installed, if you were doing a big rehab to your building.  Unsure if they're still doing this (my story is from 2 years ago), but something to look into.  I priced out options with several companies and Creative Comfort solutions had the most affordable options, were great to work with (promptly returned calls, always in touch, arrived on time for work, etc) and highly recommend them!

@Brian Augsberger you would have to check city codes as I'm also unfamiliar with renting out rooms.  To my knowledge, I dont believe you can 'rent out the room' per say.  You can get a housing inspection license for your home (it's easy and only $50) which approves you legally to rent out the home.  You would then create leases for each tenant occupying each room as to say.  Having something in writing is always a good idea, especially outlining what is and isn't shared (e.g. common space, garage, outdoor space) with others.  Also legally binds the renter to pay you rent (if they dont, you can take them to court).  Not to scare you.. but just giving examples of things to think about.

@Robert Hastings.. yes as noted by others, would have to pay the transfer tax.  You can consult with a RE-attorney, but more importantly a good title company can guide you through the process. 

@Cody Jensen.. yes, as Mr. Opara noted, those are your two options. Something that worked out great for me, was when I was house hacking, looking for a multifamily property in Philly. In my search, I found a duplex, that was listed as a SFH. It was easy to spot since it was a corner property with 2 separate doorway entrances (one in the front and one in the side towards the rear of building). At any rate, In looking through zoning records, I found it was zoned RSA-5 and the 1st floor was previously commercial, but had since been legally changed over to a living residence and thus the building was legally zoned (via a variance from the 90s) as a duplex. With a little work, you can find hidden gems like this sometimes but be careful of places advertised as duplex, etc.. always check the zoning

I agree with Michell. Install ceiling fans. I actually regret not putting them in my own apt (owner occupied duplex). Nice ceiling fans may run you a good $150 or so but it's a great selling point for renters.

I've used padmapper.com 

Think of it as a hybrid for all rental listings paired with google maps.  Easy to see locations, ads, etc.  You can also view the original rental ad if you want to see additional info.  I've found it to be helpful in comparing properties in the area of my rental, to gauge rental income.