Yuriy 0:00

the Philly rental market is shifting fast and today I'm breaking down what every landlord needs to know to stay ahead from a major new Safe, healthy Home Act bill in city council to a massive federal housing move. We have a lot to cover. Plus I'm doing a deep dive into the 1 9 1 2 6 zip code, a neighborhood with higher incomes and stronger home ownership that you may think. Let's get into it.

Speaker 3 0:33

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Yuriy 0:49

Hi everyone, and welcome back to the Philly Landlord Guy the show where we do a deep dive into a local real estate market without any fluff. I'm your host, Yuriy Skripnichenko. The guy with impossible, last name. I am a licensed real estate broker and a certified property manager here in city of Philadelphia. Today, I'm going solo. Let's jump right into the big news from City Hall. On March 4th, the City Council Housing Committee advanced a major legislative package called the Safe, healthy Home Act. Despite the pushback from landlord group, these bills are moving towards a full council vote on March 19th, which is happening two days after this recording. I hope that I will have updates for you, in the next episode, if it was accepted, what was accepted or what was passed, and what we need to, do now. But there are four things in this package that will change the way we do business. First proactive inspections. Instead of waiting for a tenant to complain, the city is launching a proactive inspection program. That means L and I can now put your properties on a regular inspection cycle just to keep a rental license active. We do not know how that's gonna work. We do not know if the city has enough, inspectors, but they are trying to put it on ki some kind of schedule to prevent you rent your property if it doesn't pass the inspection. Second expansion of good cause eviction. Currently good cuase protection. Mostly apply to month to month. leases this new bill. Tends that to all renters, including those on a long-term lease of a year or more. You won't be able to just send a non-renewal notice at the end of the year anymore. You will need a specific legal reason to end the tenancy. Third, the burden of proof. The bill bars landlord from retaliating against tenants who cooperate with the city investigators or joint tenants unions, which is already a thing. But this bills. Specifically switches that burden of proof if LNI or tenant deems your property habitable for any reasons. Fourth rents rebates. This is a tough one. The legislation clarifies that tenants can sue for rent rebate if a landlord collects rent while the rental license is inactive or if they fail to provide a certificate of rental. Suitability. My take is that this shifts the load heavily onto us as owners. There is zero room for being sloppy with your paperwork. Now, if your license lapses for even a month, you could be looking at a major financial hit. So a rare moment of agreement in DC the Senate passed the 21st Century Road to Home Act with a massive 89 to 10 vote. The focus now moves to the house. The goal here is to modernize housing vouchers and actually give private landlords like you and I have reason to want to participate. If you've dealt with red paper federal programs before, this act is intended to streamline that process and reduce the friction for us. It is definitely something to watch for if you looking to scale your portfolio with stable subsidize tenants. Also, there are a lot of father things included in this housing. That may or may not affect you, we will be tracking those as well. one of those, for instance, they are trying to make a road for the cities and townships to change the zoning where lacks the zoning rules a little bit. So, we can have more dense zoning in the single family neighborhoods, which will create, construction or bigger projects. And, Therefore we'll have more, affordable housing. Before we get into 1 9 1 2 6 market report, I want to take a quick moment to thank our sponsor, TrustArt Realty. If you're a landlord in Philadelphia, you know that managing rentals is getting more and more complicated every day. That's why TrustArt Realty is offering all of our listeners a free rental analysis or a management advice session. Whether you need help understanding this new code requirements, or you just want to optimize your current rentals, they've got you covered to claim your free sessions. Send an email to trustartrealty@phillylandlordguy.com or go to trustartrealty.com and schedule a meeting. Alright, let's talk numbers Now. Today we're looking at the 1 9 1 2 6, zip code, which covers West Oak Lane and East Oak Lane, or parts of both. This is a very stable, traditional residential area that often gets overlooked by investors chasing the trendy spots, here's what the data tells us about 1 9 1 2 6, The average household income here is approximately $76,474 which is significantly higher than neighboring zip codes like 1 9 1 4 1 or 1 9 1 3 8. The median income seats around $53,000 the typical home value is about $223,000 and we've seen, year over year appreciation of about 4%. The market inventory is incredibly tight. And February we saw a median unlisted price of 1250, but the actual median price for closed places jumped to 1460, when unions are renting for 200 over the list price, it tells you the demand is massive. But again, that's, an incredibly tight market. It's based only off a few rentals that were done during the months of February, so I would not take, this in strong consideration. the average day on the market, however, was 79 days. This is about two weeks longer than the citywide average of 66 days for February, 2026. My take, is that 1 9 1 2 6 is a buy and hold gold mine. You have higher than average incomes and a stable homeowner base. About 52% of the zip code is owner occupied and 1 9 1 2 6 keeps that stability high. It takes a little bit longer to find a tenant here according to recent data, but the. Quality of the tenant and the rent premium you can get makes it worth the wait. Also, we're seeing an uptick in the market right now. We're getting more inquiries, we're getting more applications, so I'm excited to see what March, 2026 will look like, and I will share this data in the next piece that hopefully we'll see a significant deep in the days on the market for this month. To wrap things up, 1 9 1 2 6 remains a pillar of stability, but the new rules coming out of City Hall mean that you have to be more disciplined than ever if the Safe, healthy Home Act passes on the nineteenths, your compliance game has to be at a hundred percent. Thanks for joining in. If you found this helpful, please like, subscribe, share with another Philly investor. If you have any questions or want me to look at your zip code next, leave a comment. I'm Yuriy Skripnichenko and I'll catch you in the next episode.