Student Housing Property Management
Why Have Your Student House Managed?
XCEL PM is a full-service property management company in Philadelphia. We offer owners of student housing a comprehensive suite of services, while retaining the immediate, efficient responsiveness of a boutique provider.
Philadelphia Universities & Colleges Served
- Temple University
- Drexel University
- University of Pennsylvania
- Thomas Jefferson University
- University of the Arts
- The Art Institute of Philadelphia
- Community College of Philadelphia
- Moore College of Art and Design
And many more throughout the Philadelphia region. Our current client base ranges from single studio apartments to full-size six bedroom plus units.
Our mission is simple: take care of your rental property’s needs, so you don’t have to worry about a thing! XCEL PM’s services include:
- Rent collection
- Licencing & Regulations
- General Maintenance
- Smoke alarms
- Paint (small area)
- Wall patching (small area)
- Manage additional work (small additional cost)
Learn more about our services here.
Spotlight Services: Student Housing
Based in Center City Philadelphia, XCEL PM’s central office is strategically located for fast response times and diligent supervision. Both are critical to the sustained profitability of any real estate investment, especially student housing.
Many property management companies hand eviction filings, which are legal proceedings, over to attorneys. Although we attempt to avoid evictions in general, they become necessary when the value of your investment is at stake. XCEL PM endeavors to file evictions in-house, eliminating the need for legal counsel.
Resolution Of Legal Matters
XCEL PM takes a proactive approach to developing concerns, through routine property inspections and preemptive maintenance. Our initiative extends to encompass legal issues, which we will attempt to resolve amicably without the counsel of attorneys.
Utility Bill Pay
Our mission is to sustain maximum occupancy, while minimizing outgoing expenses. But along with residency comes a necessary augmentation in utility usage. XCEL PM will facilitate the collection and disbursement of all utility bills, including Philadelphia city water.
Fee Range of Student Managed Properties
14% to 10% of total property rent.
See our latest student housing related bog posts here.
Student Rental Property Case Study
Before hiring XCEL PM, one of our current clients rented a single family home on a nearby college campus. Initially, all was well. Renters were paying on time, and the investment appeared to be a good choice. But midway through the lease, a dispute arose. Namely, who should pay utilities?
In attempting to resolve the issue, our client was unaware of two important laws that govern the manner in which a landlord can rent to a tenant:
- For every rental unit, a “renters license” must be applied for and received. Although it only costs approximately $50.00 per year, this license is required by the Philadelphia Real Estate Court. Unfortunately for our client, the processing of a renters license takes around eight weeks, and delayed the collection of two months rent.
- Philadelphia City law states that each rented bedroom must have a window in order for rent to be collected.
Although there was nothing structurally wrong with the units, our client’s lack of familiarity with city law proved highly costly.
Successful student housing management entails far more than an intimate knowledge of a property and its maintenance. Don’t let simple, and easily corrected, oversights threaten the profitability of your real estate investment.