The Department of Residential Real Estate in West Chester, Pennsylvania consists of serving two different rental communities.
The first community consists of students who have attended West Chester University. Since some geographic areas of West Chester do not allow student rent, it is very important that you confirm in which part of the city your investment property is located. Student housing is time consuming for property managers and requires additional business hours to accommodate their needs. For example, with student accommodation, we receive requests to change light bulbs, remove snow or ice, clean rooms, and many other requests that we do not typically receive from non-student tenants. As an investor, you want to make sure that you have a real estate management company in West Chester, with the Palestinian Authority lined up to deal with these issues or to prepare yourself to deal with them. .
Also, with student accommodation, you will get a lot of turnover and most of the students will stay outside for a year. So be sure to plan a big tenant business considering investing here.
The second community is non-students in West Chester, Pennsylvania. This may include individuals who live in this very popular community or in some cases people who work for the University of West Chester. These types of tenants are more mature and easier to manage for the properties in which they live. In addition, they pay the rent on time and almost do not require maintenance or attention. This may be the best option as an investor, but these types of investment properties cost more per unit.
The good news is that non-students can stay in your investment property for many years and reduce your free time.
West Chester, Pennsylvania is a very popular community with lots of stores and restaurants in the city. West Chester, Pennsylvania is also home to QVC, one of the largest employers in the region.
The city is still a very hot market for sale and rental. The average home selling price as of November 2018 is $ 414,100. The average selling price increased by 3.4% over the previous year. The rental market is also growing well. The average rent is $ 2,242 per month and is 1.5% higher than the previous month. This compares to an average rent of $ 1,581 in Philadelphia and $ 1,449 nationally. Given the strong popularity and strong employment in the region, I would suggest that it be a great place for real estate investors to look for investment properties and average returns.
Mick Lautensack is the owner of Del Val Realty & Property Management (“Del Val”). Del Val is a full-service Philadelphia real estate management company with 15 years of experience operating over 3,500 single-family homes, HOA units, and multi-family properties in and around Philadelphia.