Individuals who are interested in real estate investing often ask us what it takes to invest in properties in northeast Philadelphia, or in Philadelphia in general. There are a few things that need to be considered when you’re interested in acquiring rental properties.

INVESTING IN RENTAL PROPERTIES: GOVERNMENTAL PERMITS

You’ll need to consider the necessary governmental permits and activity licenses. These are critical to do business in Philadelphia. For example, did you know that Philadelphia requires that you have a commercial activity license for investment properties? It’s commonly called a business privilege license, and the city will charge you to obtain it.

INVESTING IN RENTAL PROPERTIES: HOUSING INSPECTIONS AND RENTAL SUITABILITY

Another thing you need to include is the housing inspection license, which excludes some one-off condo rentals, but generally is required for all rental properties. A certificate of rental suitability needs to be obtained from the Department of Licenses and Inspections. Many owners do not realize that the Department of Licenses and Inspections requires that you are a resident of Philadelphia or have offices in Philadelphia to get the rental suitability certificate.

INVESTING IN RENTAL PROPERTIES: DISCLOSURES TO TENANTS

Prior to renting, you’re required to provide the tenant with information on the Philadelphia Gas Works landlord Cooperation program as well as a lead disclosure. There are an assortment of other documents that you need to share with your tenant. They are all manageable, and we do it on a routine basis for the landlords who work with us.

What does this mean for you?

If you’re not familiar with the requirements, you can get caught for your noncompliance. For example, if you try to evict someone without a rental suitability license, good luck trying to get the courts to award you an eviction. The judge will have something to say because this is something that’s absolutely required.

You can figure this out as an individual landlord. Information is available on the city’s website. A better idea is to come to experts who do this on a day to day basis.

For help with any aspect of property management in Philadelphia, please contact us at McSherry Property Management and Real Estate.

John James Roedig

With 30 years of financial and management experience, John is Co-owner of McSherry Property Management and Co-Founder of Roedig Vesco Commercial Real Estate. John sets the overall corporate direction for both companies and is responsible for the administrative affairs. He is also the president and owner of Valley Holding Group, Inc. a multi-family asset owner. John Is a member of NARPM, IREM and National Association of Realtors.

Prior To John’s career in Property Management and Commercial Brokerage John held senior management positions in the cogeneration & independent power industries.

John grew up in Huntingdon Valley, PA, and LBI, NJ. He now splits his time in PA and in South Florida.

John has a BS degree in Accounting & Finance from LaSalle University and also holds an MBA From LaSalle University

Joe Vescovich

As a longtime resident of the Philadelphia metro area, Joe understands the numerous intangible benefits of life and opportunities within Philadelphia and surrounding areas. After graduating from Penn State, Joe and his family moved back to the area and he has extensive experience within the commercial and residential appraisal fields. Through this extensive background within the local area and regional market, Joe has a strong understanding of the dynamics within the various communities of this area.

Connected to the community through volunteer and board membership, Joe has additional insight into local zoning, as a member of the Cheltenham Twp. Zoning Board and other nonprofit organizations. Joe’s contacts and lifelong residency leverage his energy and enthusiasm.

Education includes degrees’ in Construction Engineer (Spring Garden College), and Operations Management (Penn State). Professional designations include those in the appraisal sector. Joe has been involved in professional podium speaking/training, and teaching activities. Joe has authored and taught multiple 30 hour and full day Certification and Broker programs at The Pennsylvania State University, Polley Associates, Appraisal Institute, and Northeast Board of Realtors. Other professional commitments have included several national and local professional committees with the Appraisal Institute, International Right-of-Way Assoc. and Appraisal groups.

When not assisting clients, Joe enjoys spending times time in the art world. He is interested in the visual arts. Trained as a woodworker, this creativity component extends into the business arena and beyond.

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Nancy Lewis
Director of Leasing

Nancy Lewis has over 20 years of experience in customer service and account management. She previously worked in the new build construction field. She recently joined the team at McSherry Property Management as the Director of Leasing. Some of her current duties include meeting with future tenants, showing rental properties and creating leases, as well as handling client concerns. She is also given the opportunity to create new policies and procedures to help the business grow. The entire team at McSherry Property Management is very respectful, open to new ideas, and work in a positive environment while expanding their business and remaining innovative as they proceed. Nancy enjoys the close relationships built between coworkers and management. She is extremely grateful for the opportunity to be part of the team and to work with all of McSherry Property Management’s clients.

MaryEllen Meehan

MaryEllen has been a member of the JG McSherry team for over 40 years. Her experience crosses over many aspects of the real estate business including title insurance, property casualty insurance, condominium, conversions, sales and property management. Her current duties are more in an assisting capacity in any of our departments at this time. She is very proud to be associated with a firm that has consistently exhibited integrity, responsibility and professionalism over the decades