All Forum Posts by: Yuriy Skripnichenko

Make sure that you or someone you work this know all local Philadelphia laws. We had a new law passed last year about tenant screen process. You can find a guidelines here: https://www.phila.gov/document...

As Kvin M noted you cannot decline applicant solely based on the credit score. You need to have specific criteria and screen all tenants the same.

Hope this help.

Cheers,

Yuriy S.

1 Vote

Philadelphia, Pennsylvania

@Leo Day

I'd talk to @Rich O'Neill

His company helped our clients a few times now.

It would be very hard to find any contractors especially before you have a project to work on. Good contractors are always busy.

Cheers,

Yuriy

1 Vote

Philadelphia, Pennsylvania

@Eric Greenberg

Where do you list your commercial properties?

Cheers,

Yuriy

0 Votes

Philadelphia, Pennsylvania

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0 Votes

Philadelphia, Pennsylvania

Hi all,

For those who has commercial spaces City of Philadelphia released a new leasing notice that has to be signed 7 days before entering into a commercial space lease.

It is actually a decent guide that can be used by a lot of investors that explains steps on how to determine the right zoning and use of a property.

You can find it at https://www.phila.gov/documents/commercial-leasing-notice-guide/

Cheers,

Yuriy

2 Votes

Philadelphia, Pennsylvania

Hi all, new report from Bright.

Home Demand Index for the Philadelphia Metro market area increased slightly more than 21 percent in February to 103, reflecting Steady buyer demand. The Index was in the Slow range in January.

Demand increased for each type of home in February. The Index for higher-priced single-family homes and higher-priced condos rose the most, each up by more than 40 percent over the month. Demand was weakest for lower-priced single-family homes with Limited buyer interest. Buyer interest was strongest for higher-priced condos and higher-priced single-family homes, each recording High demand. The months supply of homes rose for all segments except lower-priced condos. The months supply of homes ranged from 1.3 months for mid-priced single-family homes to 5.8 months for higher-priced condos.

Cheers,

Yuriy

1 Vote

Philadelphia, Pennsylvania

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0 Votes

Philadelphia, Pennsylvania

Hi all, new report from Bright:

Demand for homes in the Philadelphia Metro area rose in January reflecting the seasonal increase in buyer interest at the start of the year. With an increasing number of buyers beginning their home search in anticipation of the competitive spring market, demand increased from the end-of-year low. Demand at the start of 2022 was at a lower level than one year earlier, however. A low inventory of homes at most price points limited buyers’ ability to complete purchases while rising home prices diminished affordability.Home

Demand Index for the Philadelphia Metro area rose slightly more than 23 percent in January following two months of seasonal declines in buyer demand. The Index, at 85, reflected a Slow pace of demand compared with Limited demand in December. Although the Index rose over the month, it was nearly 16 percent lower than one year earlier.

Demand increased for all types of homes in January. The Index for higher-priced single-family homes and condos rose the most, each up by more than one-third over the month. Demand was weakest for lower-priced single-family homes with Limited buyer interest. Buyer interest was strongest for condos and higher-priced single-family homes. The months supply of homes rose for all segments except higher-priced condos. The months supply of homes ranged from 1.1 months for mid-priced single-family homes to 4.2 months for higher-priced condos.

Cheers,

Yuriy