property manager recommendation in Union City, NJ

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property manager recommendation in Union City, NJ

Sooyeon Kim
Ny, NY · Member since 2015 · 47 posts · 9 votes

Hi all, 

I recently purchased a 3 family house in union city and closing another 2 family with 1 store front in 2 weeks. Given that it is becoming 8 doors total with my other 2 small condo apartments, I think it is time to look for help to manage those properties. 

Do you have any recommendation for good property manager/management groups in Union city? 

Thank you in advance. 

Soo

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    9y

    Go to www.narpm.org and search their directory.

    If you make a mistake and hire a bad Property Manager, it can ruin you for life. Learn the difference between a good PM and a bad one, try to interview at least three, and then make an educated decision. Remember: the PM with the highest fees may be the one that makes you the most money.

    Things to do:

    1. Review their management agreement. Ensure there are no hidden fees!

    2. Calculate the total cost for a year. Some will charge a percentage of rent and nothing else. Some will charge a percentage each month but also a start-up fee, a leasing fee or lease renewal fee each year, administrative fees, maintenance fees, etc. Every fee should be fully disclosed!

    3. Review their lease agreement and addendums.

    4. Interview them about how they handle maintenance, late rent, unpaid rent, lease violations, evictions, etc.

    5. Ask to speak to some of their current owners and tenants.

    6. Google them and see what kind of reviews they have.

    There is much more you can do to check out a PM but that list should be a good start. Congratulations on our growing portfolio!

    The DIY Landlord Book4.7248 Reviews
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  • Sooyeon Kim
    OP
    Ny, NY · Member since 2015 · 47 posts · 9 votes
    9y

    @Nathan Gesner thank you so much for your valuable advices!!!

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