They keep rent low, give gifts and homemade cookies for Christmas, make upgrades whenever the tenant requests,  accept all the late rent excuses, etc.The truth is, your tenant is not your friend.

If he gets put out he's just going to wear out someone else's welcome, which is probably a friend or family member and that's where he belongs instead of putting off his problems on you.

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@Namal Burman, your post caught my eye because I had a former client-now a good friend-who found herself in a similar situation.

There are much more landlord friendly towns in New Jersey.

I had a friend purchase a Vacation home financed with RBC last year. 

Handyman Contractor Insights: These will best come from interviews or referrals from social media (friends/friends of friends) that are retired contractors or tradesmen.

No @Ken M. it isn't "by guess & by gollie" I had a realtor friend run some comps in the area and $180,000K is the value.

It’s amazing to see how much the market has changed since then..and I remeber reading an article in Forbes that talked about how travelers often prefer unique stays with great locations.A friend of mine up in Lakewood had a client who tried an Airbnb in a condo overlooking Sloan’s Lake.

I guess we will find out when the implementation of the new law occurs and then is tested in court.Nevertheless, written documentation will be your friend.✅ Secondly, good cause has a max cap on yearly rental increases at a certain margin above CPI or 10%, whichever is less.For those of you who own stabilized, high quality housing like we do, this shouldn’t be a problem.But instead of keeping rents flat because you are a nice person or increasing just a little bit, you could get yourself in trouble when it comes to funding future major repairs and capital expenditures.As long as you are increasing to what the market will bear, you will be in good shape.Also if you are looking at purchasing blighted, dilapidated housing with the intent of raising rents and financing improvements to the property, you will have to take this into consideration and buy accordingly and on in place rents not projected rents.On the implementation side, however that pans out, you might be able to get these necessary rent increases to finance repairs but you may need to go to housing court in order to get the green light but we are just not sure at this point and remains to be seen.✅ Thirdly, in regard to objectionable tenancy and nuisance caused by disruptive tenants, you will need to document these violations with undeniable evidence.Because police reports are not usually able to be procured due to disturbances like drug trafficking or domestic violence, you’ll need to take matters into your own hands on producing that documentation.I recommend getting security cameras installed in all common areas and outside your properties.I’ve used SimpliSafe security cameras but you’ll need to install WiFi service at your properties so that you can maintain recordings in the event of violations and add to your lease that any tampering with said cameras constitutes a lease violation as well.This is still developing and once we get further clarity, we will host a round table with legal experts on how to best protect our properties and residents.