Management of residential real estate in West Chester, PA is to serve two different rental communities.
The first community includes students attending the University of West Chester. As certain geographic areas of West Chester do not allow students to rent, it is very important that you make sure what part of the city of your investment property is located.
Student housing is time for property managers and requires overtime to meet human needs.
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For example, with student housing, we get calls from changing light bulbs, remove snow or ice, clean rooms and many other applications we are generally non-student tenants. As an investor, you want to ensure that you have a property management company in West Chester, PA aligned to address these issues or be prepared to handle them yourself.
Moreover, with student housing, you get a lot of revenue and most students to stay one year and move. So be sure to plan the high turnover of tenants when considering investing here.
The second community in West Chester, PA is non-students. This may include people living in this very popular community or, in some cases, people that work at West Chester University. These types of tenants tend to be more mature and easier to manage the properties in which they reside. Moreover, they tend to pay the rent on time and do not require maintenance or almost as mush attention. As an investor this may be the best option, but these types of investment properties tend to cost more per unit.
The good news is non-students can live in your investment property for many years and reduce your time.
West Chester, PA is a popular community with many shops and restaurants in the section of the city center. West Chester, PA is also home to QVC, one of the largest employers in the region.
This city continues to be a hot market for sales and rentals. The average selling price for the house from November 2018 414100 $. The average sale price is up 3.4% over last year. The rental market is also seeing nice price appreciation. The rental is on average $ 2242 per month and is up 1.5% over the last month.
That compares with the average rent in Philadelphia and $ 1581 at the national level of $ 1449. Given the high popularity and strong employment in the region, I suggest a great place for real estate investors to look for investment properties and higher average yields.
If you are a real estate investor or owner of the goods and want to know more about how we can help you buy investment properties and our property management program please visit our Web site at http://www.delvalproperty.com/.
Lautensack Mike is the owner of Del Valle Realty & Property Management ( “Del Val”). Del Val is a FULL SERVICE Philadelphia property management company with an experience of over 15 years and manage over 3500 single family homes, HOA units and multifamily properties in and around Philadelphia, PA
