Greetings from Realtor in Jersey City which has the 2nd highest rents in the US

[Joelle Chilazi]

Hi everyone  I'm new and looking forward to networking in this forum.  I am a Broker Salesperson in the Jersey City/Hoboken area with over a decade of experience and have worked with many investors.  Jersey City is 70% renters and is ranked as the city with the second highest rents in the U.S. after NYC. It is a great place to invest!  Check out this recent rental report from Zumper ranking cities in the US with the highest rents. https://www.zumper.com/blog/rental-price-data/

[Earl White]

@Roy Kinzer Rent control in NJ can be a tough pill to swallow and unfortunately has caused many of my deals to fall apart quickly once buyers/future landlords realize how strict the controls can be. In Jersey City, it doesn't kick-in until 4-units - so for the smaller multis or single-units it is not a problem. The rent control in some cases is really unfair to the landlord as the percentage increases are virtually irrelevant when the rent is a small amount.

@Derrick E. NJ is very tenant friendly state on the legal side. Rent control obviously in the cities that have it. However, eviction must be by cause (i.e. you can never evict without a justifiable reason - so more or less you are stuck with a tenant unless they stop paying rent or breach their lease, or some other narrow units such as moving in or curing code violations - though then you have to pay relocation costs).

@Dustin Tucker You should expect 1-3 months for eviction timing. It could vary of course depending on the defenses of the tenant and if the court is presently backlogged.