Real Estate Agent · JACKSON HEIGHTS, NY 11370 · Member since 2012 · 11 posts · 4 votes
Hello All!
I've been on the side lines for a very long time now and I finally made up my mind on what and where I start my investments. I'm looking into investment rentals in the Burlington/Mercer County areas in New Jersey. I live and work in NYC as a real estate agent, but I'm familiar with those areas.
I've talked to realtors in the area about some properties, but I know have more questions than answers. If anyone can answer all or some of my questions that would help me out.
Questions:
Who normally pays for water/sewer? (tenant/owner)
Does the county/city inspect the properties yearly if they are rented? What is the fee?
Any other fees, inspections or issues that may come up with the town?
Is it advisable to have an attorney review or be involved with the transaction? In NYC we use real estate attorneys for both sides.
If there are other forums related to my questions, please direct me there.
Rental Property Investor · Yardley, PA · Member since 2012 · 436 posts · 198 votes
10y
I invest in Mercer County. There are. Alot of nuances as far as who pays water etc. Trenton is $115 per year landlord license. Sale inspection is $200. Mercer County down is usually handled by a title company. Please feel free to.reach out to me with questions. We buy and hold as well as manage, fix and flip in mercer county.
Investor · Trenton, NJ · Member since 2016 · 67 posts · 22 votes
10y
Vic there are two things you must get one is Certificate of Housing Code Compliance, it is to make sure that the house is in complies with the current regulations which is $200 plus additional $25 for each extra unit in the house. It is needed when prior to change of ownership of property. There is also Non-Occupant Owner License which costs $125. As far who pays what it depends on the lease.