Home Selling in 19148>Question Details

Jessica Bert…, Home Owner in Philadelphia, PA

Do property tax rates go up if you rent out your property? Also, what % do agencies take to manage your rental property for you?

Asked by Jessica Berthold, Philadelphia, PA Thu May 23, 2013

I live in 19148, very desirable street in East Passyunk

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Thanks for the advice, everyone!
0 votes Thank Flag Link Sat May 25, 2013
Well, congrats to you for taking the opportunity to earn passive income and build sustainable wealth. You propery taxes DO NOT or ARE NOT attached to your use of your property for rental income. It is based on your neighborhood as well as the city's Bureau of Revenue Taxes. They have recently adjusted their way of calculating property taxes but it is generally uniform for you block or area REGARDLESS of the use.
You will need a Rental License in the city to basically connect you to Licenses and Inspections.

Rental management costs vary. Usually they charge an initial cost of one month usually gained through the initial deposit s from the rentor. Then they usually charge about 10% of the monthly rent. If a company wants to charge more than 10% , find another, Period. There are other factors to consider when finding a "good" rental management company (like their stance/ involvement in the case of late payments or evictions).
You can always email, call, text or check out my blog for info or for any other questions: http://www.dirktherealtor.com

Hope this helps, give me a call if you need more.

"Helping people & families reach their Real Estate goals, everyday"

Dirk Parker, ePro, Realtor
0 votes Thank Flag Link Sat May 25, 2013
Btw, I am one of the few agents that represents clients in both the city and the suburbs. I would be happy to chat with you at some point about your goals and what your next steps should be.

Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
Web Reference: http://SellingPhilly.com
0 votes Thank Flag Link Thu May 23, 2013
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