Jonathan Gif…, Home Buyer in Newtown Square, PA

Rental property in boro of West Chester Pa.: restrictions on student tenents good/bad place to invest?

Asked by Jonathan Gifford, Newtown Square, PA Tue Jun 17, 2008

I am considering the purchase of a rental property in the boro of West Chester Pa. I understand there are restrictions on, and permits required for renting to college students in the area of West Chester University. is this an area favorable to landlords, or would it be better to steer clear of investing in that area?

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Arleen Pecone, Agent, West Chester, PA
Thu Sep 4, 2008
If you want your tenants to be students, you should have a "student rental permit" that goes with the property. It is a great place to invest as values have consistently gone up.
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Kelly Gidzin…, Agent, Philadelphia, PA
Tue Jun 17, 2008
I don't think anyone can answer whether it is a good or a bad place to invest for you, as that is really an individual decision. I've worked with investors who want section 8 and others who won't touch it. You should first investigate the restrictions on rentals and the permit & fee requirements with the borough. Then examine who you wish to be your target renter. For instance some investors don't want to invest in areas where they are likely to draw a high amount of students and others prefer the guaranteed inventory of prospective tenants a local college can offer.

Here are some helpful links.

Investor & landlord association for investment property owners in West Chester
http://www.yourlifemoves.com.z57preview.com/custom10.shtml

Community profile for West Chester including demographic info. & crime stats.
http://www.yourlifemoves.com.z57preview.com/community_report…

Let me know if you would like to view area listings or need assistance in any way.

Sincerely,

Kelly Gidzinski
Long & Foster Real Estate, Inc.
Newtown Square Office
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