Managing Property in New Jersey from another state

[Michelle Garcia]

I currently own a property in Essex County, but I'm contemplating a move out of the state. However, before I make any decisions, I want to ensure that my property is left in capable hands and set up for success. I have a few questions in mind:

1. 1. When it comes to out-of-state investments, is it more beneficial to hire a property management company or a dedicated superintendent?
2. 2. Despite my efforts to research property management companies in Essex County, I have been unable to find any suitable options. Does anyone have any recommendations?
3. 3. If anyone has experience managing their properties from a different state, I would greatly appreciate hearing about your insights and lessons learned.

1. 4. Can anyone suggest any articles or books that provide guidance on how to manage properties while residing in another state?

I want to express my gratitude in advance to those who take the time to comment and share their knowledge regarding this topic.

[Laticia Braxton]

Hi Michelle,

If you don't have any property management experience and your profit margin allows you to, I would recommend hiring a PM. I've been in property management for over 25 years and unless you are okay being burdened with the responsibility of chasing rent, collecting rent, filing in court for rent, assessing & scheduling repairs, vetting contractors, handling emergency calls 24/7, etc., you need a professional to handle these things for you.

 Some investors find it more beneficial to hire a PM so they can enjoy more of their lives, and some investors find value in doing these things themselves, so they gain the experience through trial & error. I see it as a very personal choice.

If you would like to schedule some time to discuss further, I'm always happy to help.

Laticia