All Forum Posts by: Guangli H.

Any member has experience of rental agent designation/certification in Princeton, NJ area? Greatly appreciated!

Below is my understanding of NJ tenant law and what I would do if I were in your shoes

@Sandy S. 

According to NJ law:

1) Does a tenant's non-signing of the lease automatically turn into a month-to-month lease?

If the landlord doesn't offer to renew the yearly lease, then the lease will automatically turn into a month to month lease. However, in your situation, it is a disagreement on the leasing price, I would think in this situation, your tenant should vacant the property by the date the lease is over. 

2) Do I have the right to not renew the lease, given that I do not agree to their counterproposal?

Yes, you do. Generally, for yearly lease, you need to provide them 3 month notice of new lease term or termination of the lease. For month to month, you only need to provide 30 day notice to terminate the lease. 

3) What time frame do I have to give them to vacate the premises?

In this situation, I would categorize your tenant is on a month to month lease and i would give them a 30 day notice to terminate the lease and move on if that is what you want to do.

Hope that helps. Good luck!

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@Fradel Schaechter You can find cash flowing properties in NJ area. Try to look around the neighboring town close to the NY city. I know a lot of them are investing in Newark and Elizabeth. Some other towns like Rahway, Linden, Roselle, etc. Another way to select the towns is to go to MLS, find the towns which has the most recent sales of multifamily properties. Then you can research one by one and find which one you like most and go from there. In every town, there are investors who are killing it and you just to have to find the town that matches your investment philosophy. Hope this help a little bit.

In New Jersey, it is not required by law to disclose such information.

Sure, @ Kevin Marcelino. Let connect and help each other along the investing career. 

Great, @Jonathan Soto. Let us help each other to build a successful investing career.

Hi Michael, Sure. Please feel free to reach out and more than happy to support each other to be more successful.

List on the MLS probably can give you the highest and best price. Good luck!

Awesome, @Account Closed . Feel free to reach out if you have any deals in the area. I am interested in properties which are good for buy and hold. Let's work together!