Property Management

[Figen M.]

Hi Everyone:

I haven't been around for awhile (more than 1.5-2 years) and many things have been changed in terms of my real estate investment business. After I decided to go solo in my business, I am looking for the options to start fresh. I am planning to do property management which I have years of experience but because of the fact that I managed my own properties, I never been at the other side, in other words, servicing a landlord. My question is what your expectation is from a property management company and if you are using one, what do you like or not like about their services.

And if anyone knows how much Property Management companies charge in New Jersey area, I would be happy to know that either.

Thank you

[Steve Wilcox]

I use a PM co because I invest in a very challenging market, and I need someone to help me deal with the tenants and the constant maintenance and management issues we face. 

Rates range from 6.5-10% depending on the portfolio, (bigger is cheaper), and he collects rents, handles all maintenance issues, tenant phone calls, section 8 inspections, snow removal, landscaping, ect. 

He also can find tenants for a fee, its usually 1/2 of 1 months rent. I use this service for all my rentals, the company is The Rental Shop, in Newark NJ. They only do Newark, Irvington, East Orange, and Orange, specializing in urban areas. PM me if you have properties and want the contact info