All Forum Posts by: Syed H.

@Syed H.

Depends on the municipality. Pennsylvania does not have a uniform rule on this. I can't say I know what Allentown's ordinances say on the matter. 

Do note, however, that Pennsylvania does have a law that restricts who can engage in property management activities for another person. You could, for example, hire someone to show the apartment and provide general information to the potential tenants. But such employees could not enter into a lease, negotiate terms, or hold money belonging to the tenants. 

And setting aside all the above, sometimes landlords can get into trouble for hiring unqualified people. Not saying your handman is unqualified. But I've seen smaller landlords get into major trouble because the person they hired wasn't properly managing the property and sometimes engaging in illegal activities. If you don't have a clear contact and the person doesn't have adequate insurance, that could end up becoming the landlord's problem. 

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.

@Account Closed I think you pretty much nailed it. You mentioned the water and sewer but didn't mention the costs of these bills (unless I missed it). Water and sewer costs are extremely high in the Cleveland area. In my Parma duplex, it can run as high as 150-200 dollars per month. It is outrageous. 

@Ehab Habib

A lot of the Pennsylvania municipalities now require landlords living outside of a certain mile radius to hire a property manager. So keep that in mind. 

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.

Thanks you for your input!

The city population is 50k at 5 sq miles

The city growth from 2016-2017 was 1.7%

and the 6.4% CAP would be contingent on the seller to fill the vacancy.

What would you recommend going forward, maybe negotiating a lower price or look for something in a more densely populated city?  Thank you!!

@Syed H.

Thanks Syed.

So how much better should I be looking for?