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Landlording in a Renter-Friendly State
If you were curious about where Pennsylvania ranks on the spectrum from renter-friendly to landlord- friendly, the data shows that the state skews more in favor of the tenants. According to a RentCafé study, New Jersey (#17) and Pennsylvania (#18) rank neck and neck.
Our neighbors in Maryland (#32) and New York (#39) ranked as more landlord-friendly. The landlord is most king-like in Arkansas (#51) where tenants face criminal charges for not complying with vacate notice. See full rankings here.
With the pending “good cause” eviction legislation before Philadelphia’s City Council, some are questioning whether PA may be leaning more towards tenants. The proposed regulation is supposed to combat tenants getting displaced by overzealous developers.
The bill would limit “good cause” for eviction to the following reasons (note-this is not a complete list):
- The tenant isn’t complying with a specific part of the lease
- The tenant isn’t paying rent
- The tenant has caused damage to the property
- The landlord or their relative is moving into the unit
In 2016, Philadelphia ranked #4 among large cities in the number of evictions (10,264) per year according to the Eviction Lab at Princeton. The #1 spot for evictions in a medium-sized city within PA went to Reading (1,143), with Delaware County cities Chester (#12 rank, 125) and Drexel Hill (#20 rank, 35) falling within the top 20.
For buy and hold investors, the time to shore up your property management processes is now. It is only going to get more complex. You may need more systems in place to manage move-ins and move-outs. If you own properties in multiple counties, it also means keeping track of the regulations for each town. You will need to manage your portfolio more like a business to maintain returns.
May Key Market Statistics
(Statistics shown are for rolling 12 months ending in May)
(19143) West Philadelphia-Cobbs Creek/Cedar Park
| July 17 | July 18 | % CHG | |
|---|---|---|---|
| Total Sales | 444 | 532 | 20% |
| Lowest Sales | $11K | $14K | 24% |
| Highest Sales | $1,545K | $800K | -48% |
| Average Sales | $141K | $154K | 9% |
| Days On Market | 46 | 37 | -20% |
(19104) West Philadelphia-University City/Mantua
| July 17 | July 18 | % Chg |
|
|---|---|---|---|
| Total Sales | 155 | 181 | 17% |
| Lowest Sales | $13K | $14K | 8% |
| Highest Sales | $2,400K | $1,250K | -48% |
| Average Sales | $255K | $253K | -1% |
| Days On Market | 45 | 38 | -16% |
(19139) West Philadelphia-Walnut Hill/Haddington/Mill Creek
| July 17 | July 18 | % Chg | |
|---|---|---|---|
| Total Sales | 232 | 273 | 18% |
| Lowest Sales | $5K | $8K | 50% |
| Highest Sales | $607K | $585K | -4% |
| Average Sales | $89K | $109K | 22% |
| Days On Market | 60 | 41 | -32% |
Upper Darby
| July 17 | July 18 | % Chg | |
|---|---|---|---|
| Total Sales | 1,038 | 1,092 | 5% |
| Lowest Sales | $14K | $21K | 50% |
| Highest Sales | $415K | $435K | 5% |
| Average Sales | $127K | $139K | 9% |
| Days On Market | 71 | 56 | -21% |
Chester
| July 17 | July 18 | % Chg | |
|---|---|---|---|
| Total Sales | 200 | 210 | 5% |
| Lowest Sales | $5K | $5K | 0% |
| Highest Sales | $165K | $255K | 55% |
| Average Sales | $53K | $57K | 7% |
| Days On Market | 57 | 56 | -2% |
Want more insight?
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Veronica comes from a family of real estate investors. She is passionate about helping clients create wealth, build a legacy, and design a dream lifestyle through real estate.
What makes Veronica stand out from other realtors is her financial background. With an MBA in Finance from The Wharton School and a bachelor’s degree in Economics from Northwestern University, she does not run from the numbers. She spent over a decade running financial models to help her employers evaluate projects and products. This skill allows her to simplify the bottom line for a homeowner or forecast the return on investment for a developer.
Veronica is a licensed realtor in PA. Veronica helps her clients buy, sell, invest in real estate in the following neighborhoods in the Philadelphia metro area: Cedar Park, Chester, Cobbs Creek, Darby, Drexel Hill, Germantown, Kingsessing, Lansdowne, Marcus Hook, Overbrook, Overbrook Farms, Sharon Hill, University City, Yeadon, and Upper Darby. Her company also provides property management services for single-family homes and small apartment buildings in the area.