So You Wanna Be a Philly Landlord: The Lowdown on Rental License Fees (and How to Avoid Being Nickel-and-Dimed by the City)
Let's face it, Philadelphia cheesesteaks are iconic, the Liberty Bell is pretty darn patriotic, and there's a certain charm to Rocky running up those steps (#Respect). But if you're thinking about becoming a landlord in the City of Brotherly Love, there's one bureaucratic hurdle you gotta jump over first: the rental license.
Hold on, a license to rent out my own property?
Yep, that's the Philly way. But don't worry, it's not like you need a Ph.D. in tenant relations to get one. Think of it as a badge of honor, a neon sign that screams "Hey tenants, this landlord is on the up and up!" (Though maybe not a neon sign, those can be a code violation).
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Alright, alright, enough with the pep talk. How much is this gonna set me back?
Now we're talking! The fee for a rental license in Philadelphia isn't going to break the bank. We're talking in the range of a delicious cheesesteak hoagie (with whiz, of course, because who goes rogue on cheesesteaks?).
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Here's the nitty-gritty:
- The magic number: $55 per dwelling unit is what you'll be shelling out annually. So, if you're renting out a cozy one-bedroom, that's $55. A sprawling four-bedroom? Four times the fun, four times the fee (but hopefully also four times the rent!).
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| How Much Is A Rental License In Philadelphia |
Wait, there's more?
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Nope, that's it! Unless... you own a multi-unit empire (we're talking serious Monopoly vibes here). There's a maximum annual fee of $22,000, but let's be honest, if you're raking in that much rent, a little extra to Uncle Sam probably won't faze you.
Tip: Reread the opening if you feel lost.
But what about loopholes? Can't I just, you know, not get a license?
Not recommended, my friend. The city takes scofflaws seriously, and the fines can be way more than a cheesesteak (and let's face it, nothing is worse than a bad cheesesteak). Plus, without a license, good luck getting tenants who aren't living out of a van (and even then, they might be suspicious).
Rental License FAQs:
- How to apply for a rental license? The City of Philadelphia has you covered. Check out their website for all the details (https://www.phila.gov/services/permits-violations-licenses/get-a-license/business-licenses/rental-and-property/get-a-rental-license/).
- How long does it take to get a rental license? Typically, it takes 2-4 weeks to process your application. But hey, you can always blame the cheesesteak backlog (just kidding... maybe).
- How do I renew my rental license? The good news is, you can renew online! No more trips to the Municipal Building (unless you're craving a cheesesteak, that is).
- How can I find out more about rental property regulations? The Department of Licenses and Inspections is your best friend. They have a wealth of information (https://www.phila.gov/departments/department-of-licenses-and-inspections/licenses/rental-and-property-licenses/).
- How do I avoid any rental license nightmares? Stay informed, play by the rules, and for the love of Pete, offer your tenants a decent cheesesteak recommendation (because a happy tenant is a paying tenant).
There you have it! Renting out property in Philadelphia can be a rewarding experience, and with a little planning (and maybe a cheesesteak budget), those rental license fees won't seem so scary after all.
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