Small multifamily property management in Northern NJ?

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Small multifamily property management in Northern NJ?

Nick Sansivero
Rental Property Investor · Wilmington, NC · Member since 2019 · 69 posts · 51 votes

I'm closing on a duplex in a couple weeks and I'm considering using a property manager vs. self-managing. I was wondering if anyone could provide a recommendation for a reputable property management company in Northern NJ that handles small multifamily? I plan on buying at least a couple other 2-3 unit properties in the area (Newark, Jersey City, East Orange) over the next 2 years, so it will be great have a contact. Thanks! 

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Martin Sterling
Flipper · Staten Island, NY · Member since 2014 · 116 posts · 31 votes
6y

Please inbox me and I will make an introduction to my associate's company who has hundreds of units under management in North Jersey with focuses on the areas you said above.

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  • Martin Sterling
    Flipper · Staten Island, NY · Member since 2014 · 116 posts · 31 votes
    6y

    Please inbox me and I will make an introduction to my associate's company who has hundreds of units under management in North Jersey with focuses on the areas you said above.

    1Reply
  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    6y

    I don't love the property management options in the area and I live here. I would not start using a company for just one multi. I would find someone local who is involved in real estate or management who wants a side job. Sometimes there are wholesalers who are VERY good with tenants who can manage one property for you and maybe more. Companies will charge you more and give your tenants less based on my experience in this area. Until I have several properties in one area, I wouldn't consider using a company because you will serve your tenants better with one person who will be available but of course that person must be reliable.

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  • Nick Sansivero
    OP
    Rental Property Investor · Wilmington, NC · Member since 2019 · 69 posts · 51 votes
    6y

    @Jonathan Greene Thanks Jonathan I will explore using a single person vs a management company 

    0Reply
  • Vaughn Smith
    Property Manager · NJ · Member since 2017 · 786 posts · 396 votes
    6y

    @Nick Sansivero I have an excellent PM with affordable rates and a great track record shoot me a DM if youre still in search of a PM 

    0Reply
  • Peter TverdovBusiness Member
    Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
    6y

    @Nick Sansivero my company manages as far north as Union County. (We also cover Somerset and Middlesex County). Not sure if that helps, but if it does I'm happy to chat about it further. 

    [email protected]732-289-3823
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  • Nick Sansivero
    OP
    Rental Property Investor · Wilmington, NC · Member since 2019 · 69 posts · 51 votes
    6y

    @Peter Tverdov Hi Peter, I’m a little North of there in East Orange. Let me know if that would work for you. Happy to chat this weekend. 

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  • Peter TverdovBusiness Member
    Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
    6y
    Originally posted by @Nick Sansivero:

    @Peter Tverdov Hi Peter, I’m a little North of there in East Orange. Let me know if that would work for you. Happy to chat this weekend. 

    We don't go to Essex County unfortunately. Our main office is in New Brunswick so we like to stick to about a 30 minute radius from our office. It allows us to really serve our tenants well, which in return makes the owners happy. We don't want to be spread to thin at this point. In a few years we'll likely expand to more areas.  

    [email protected]732-289-3823
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  • Nick Sansivero
    OP
    Rental Property Investor · Wilmington, NC · Member since 2019 · 69 posts · 51 votes
    6y

    @Peter Tverdov No worries I’ll keep your contact in case I start looking further south. 

    0Reply
  • Kyle K Walker
    Member since 2019 · 12 posts · 1 vote
    5y

    Hello All,

    I know this is an old thread but, I'm in a similar situation. I'm closing on a 3 unit house and I'm looking for a Property Manager. Preferably a smaller company but, I'll take all recommendations...

    Thank You 

    0Reply
  • Chinmay N.
    Investor · Jersey City, NJ · Member since 2020 · 39 posts · 22 votes
    5y
    Originally posted by @Peter Tverdov:
    Originally posted by @Nick Sansivero:

    @Peter Tverdov Hi Peter, I’m a little North of there in East Orange. Let me know if that would work for you. Happy to chat this weekend. 

    We don't go to Essex County unfortunately. Our main office is in New Brunswick so we like to stick to about a 30 minute radius from our office. It allows us to really serve our tenants well, which in return makes the owners happy. We don't want to be spread to thin at this point. In a few years we'll likely expand to more areas.  

    Hi, Nick, Peter, 

    I am curious how North NJ and Central NJ compare for multifamily investing. I am looking for a 4-plex ideally (my second property) and would benefit from hearing more from your experiences. What kind of pricing do different parts of NJ bring for multifamily and what kind of rent-to-income ratios, any problems you guys generally see? Thanks.

    0Reply
  • Peter TverdovBusiness Member
    Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
    5y
    Originally posted by @Kyle K Walker:

    Hello All,

    I know this is an old thread but, I'm in a similar situation. I'm closing on a 3 unit house and I'm looking for a Property Manager. Preferably a smaller company but, I'll take all recommendations...

    Thank You 

    What town? I cover a few counties in NJ and have a buddy who covers other areas of the state.

    [email protected]732-289-3823
    0Reply
  • Peter TverdovBusiness Member
    Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
    5y
    Originally posted by @Chinmay N.:
    Originally posted by @Peter Tverdov:
    Originally posted by @Nick Sansivero:

    @Peter Tverdov Hi Peter, I’m a little North of there in East Orange. Let me know if that would work for you. Happy to chat this weekend. 

    We don't go to Essex County unfortunately. Our main office is in New Brunswick so we like to stick to about a 30 minute radius from our office. It allows us to really serve our tenants well, which in return makes the owners happy. We don't want to be spread to thin at this point. In a few years we'll likely expand to more areas.  

    Hi, Nick, Peter, 

    I am curious how North NJ and Central NJ compare for multifamily investing. I am looking for a 4-plex ideally (my second property) and would benefit from hearing more from your experiences. What kind of pricing do different parts of NJ bring for multifamily and what kind of rent-to-income ratios, any problems you guys generally see? Thanks.

    I can't speak too much to North Jersey but I will say the higher taxes make it tough to have numbers work in your favor up there. In my coverage area, New Brunswick, Perth Amboy, Carteret, Union, Elizabeth, Plainfield, Bound Brook, Dunellen, North Plainfield, Manville are just a few off the top of my head that are big rental towns.

    [email protected]732-289-3823
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  • Kyle K Walker
    Member since 2019 · 12 posts · 1 vote
    5y

    Hello @Peter T.

    The house I'm closing on is in Orange NJ Essex County

    0Reply
  • Mark F.
    Rental Property Investor · Northern NJ · Member since 2019 · 672 posts · 677 votes
    5y
    Originally posted by @Peter Tverdov:
    Originally posted by @Chinmay N.:
    Originally posted by @Peter Tverdov:
    Originally posted by @Nick Sansivero:

    @Peter Tverdov Hi Peter, I’m a little North of there in East Orange. Let me know if that would work for you. Happy to chat this weekend. 

    We don't go to Essex County unfortunately. Our main office is in New Brunswick so we like to stick to about a 30 minute radius from our office. It allows us to really serve our tenants well, which in return makes the owners happy. We don't want to be spread to thin at this point. In a few years we'll likely expand to more areas.  

    Hi, Nick, Peter, 

    I am curious how North NJ and Central NJ compare for multifamily investing. I am looking for a 4-plex ideally (my second property) and would benefit from hearing more from your experiences. What kind of pricing do different parts of NJ bring for multifamily and what kind of rent-to-income ratios, any problems you guys generally see? Thanks.

    I can't speak too much to North Jersey but I will say the higher taxes make it tough to have numbers work in your favor up there. In my coverage area, New Brunswick, Perth Amboy, Carteret, Union, Elizabeth, Plainfield, Bound Brook, Dunellen, North Plainfield, Manville are just a few off the top of my head that are big rental towns.

    Peter you cover that far north, into Union? I may have to start looking down there if you do 🤔

    0Reply
  • Peter TverdovBusiness Member
    Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
    5y
    Originally posted by @Mark F.:
    Originally posted by @Peter Tverdov:
    Originally posted by @Chinmay N.:
    Originally posted by @Peter Tverdov:
    Originally posted by @Nick Sansivero:

    @Peter Tverdov Hi Peter, I’m a little North of there in East Orange. Let me know if that would work for you. Happy to chat this weekend. 

    We don't go to Essex County unfortunately. Our main office is in New Brunswick so we like to stick to about a 30 minute radius from our office. It allows us to really serve our tenants well, which in return makes the owners happy. We don't want to be spread to thin at this point. In a few years we'll likely expand to more areas.  

    Hi, Nick, Peter, 

    I am curious how North NJ and Central NJ compare for multifamily investing. I am looking for a 4-plex ideally (my second property) and would benefit from hearing more from your experiences. What kind of pricing do different parts of NJ bring for multifamily and what kind of rent-to-income ratios, any problems you guys generally see? Thanks.

    I can't speak too much to North Jersey but I will say the higher taxes make it tough to have numbers work in your favor up there. In my coverage area, New Brunswick, Perth Amboy, Carteret, Union, Elizabeth, Plainfield, Bound Brook, Dunellen, North Plainfield, Manville are just a few off the top of my head that are big rental towns.

    Peter you cover that far north, into Union? I may have to start looking down there if you do 🤔

    Union is as far north as we go in Union County. I grew up there so I know the town very well. 

    [email protected]732-289-3823
    1Reply
  • Peter TverdovBusiness Member
    Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
    5y
    Originally posted by @Kyle K Walker:

    Hello @Peter T.

    The house I'm closing on is in Orange NJ Essex County

     Essex County is too far for us. Sorry!

    [email protected]732-289-3823
    0Reply
  • Chinmay N.
    Investor · Jersey City, NJ · Member since 2020 · 39 posts · 22 votes
    5y
    Originally posted by @Peter Tverdov:
    Originally posted by @Chinmay N.:
    Originally posted by @Peter Tverdov:
    Originally posted by @Nick Sansivero:

    @Peter Tverdov Hi Peter, I’m a little North of there in East Orange. Let me know if that would work for you. Happy to chat this weekend. 

    We don't go to Essex County unfortunately. Our main office is in New Brunswick so we like to stick to about a 30 minute radius from our office. It allows us to really serve our tenants well, which in return makes the owners happy. We don't want to be spread to thin at this point. In a few years we'll likely expand to more areas.  

    Hi, Nick, Peter, 

    I am curious how North NJ and Central NJ compare for multifamily investing. I am looking for a 4-plex ideally (my second property) and would benefit from hearing more from your experiences. What kind of pricing do different parts of NJ bring for multifamily and what kind of rent-to-income ratios, any problems you guys generally see? Thanks.

    I can't speak too much to North Jersey but I will say the higher taxes make it tough to have numbers work in your favor up there. In my coverage area, New Brunswick, Perth Amboy, Carteret, Union, Elizabeth, Plainfield, Bound Brook, Dunellen, North Plainfield, Manville are just a few off the top of my head that are big rental towns.

    Thanks Peter. I read through your blog posts on investing in middlesex NJ and some of these towns look very promising. I am looking to get a 4-unit residential, though I would not be opposed to lucrative opportunities otherwise. Which of these towns are suitable for cash-flow with multifamily investing in your experience with good income growth and appreciation? 

    0Reply
  • Kyle K Walker
    Member since 2019 · 12 posts · 1 vote
    5y

    @Peter T. No worries. Thank you

    0Reply
  • Peter TverdovBusiness Member
    Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
    5y
    Originally posted by @Chinmay N.:
    Originally posted by @Peter Tverdov:
    Originally posted by @Chinmay N.:
    Originally posted by @Peter Tverdov:
    Originally posted by @Nick Sansivero:

    @Peter Tverdov Hi Peter, I’m a little North of there in East Orange. Let me know if that would work for you. Happy to chat this weekend. 

    We don't go to Essex County unfortunately. Our main office is in New Brunswick so we like to stick to about a 30 minute radius from our office. It allows us to really serve our tenants well, which in return makes the owners happy. We don't want to be spread to thin at this point. In a few years we'll likely expand to more areas.  

    Hi, Nick, Peter, 

    I am curious how North NJ and Central NJ compare for multifamily investing. I am looking for a 4-plex ideally (my second property) and would benefit from hearing more from your experiences. What kind of pricing do different parts of NJ bring for multifamily and what kind of rent-to-income ratios, any problems you guys generally see? Thanks.

    I can't speak too much to North Jersey but I will say the higher taxes make it tough to have numbers work in your favor up there. In my coverage area, New Brunswick, Perth Amboy, Carteret, Union, Elizabeth, Plainfield, Bound Brook, Dunellen, North Plainfield, Manville are just a few off the top of my head that are big rental towns.

    Thanks Peter. I read through your blog posts on investing in middlesex NJ and some of these towns look very promising. I am looking to get a 4-unit residential, though I would not be opposed to lucrative opportunities otherwise. Which of these towns are suitable for cash-flow with multifamily investing in your experience with good income growth and appreciation? 

    Thank you. New Brunswick, Perth Amboy, Carteret are your best bets off the top of my head. 

    [email protected]732-289-3823
    0Reply
  • Mark F.
    Rental Property Investor · Northern NJ · Member since 2019 · 672 posts · 677 votes
    5y
    Originally posted by @Peter Tverdov:
    Originally posted by @Mark F.:
    Originally posted by @Peter Tverdov:
    Originally posted by @Chinmay N.:
    Originally posted by @Peter Tverdov:
    Originally posted by @Nick Sansivero:

    @Peter Tverdov Hi Peter, I’m a little North of there in East Orange. Let me know if that would work for you. Happy to chat this weekend. 

    We don't go to Essex County unfortunately. Our main office is in New Brunswick so we like to stick to about a 30 minute radius from our office. It allows us to really serve our tenants well, which in return makes the owners happy. We don't want to be spread to thin at this point. In a few years we'll likely expand to more areas.  

    Hi, Nick, Peter, 

    I am curious how North NJ and Central NJ compare for multifamily investing. I am looking for a 4-plex ideally (my second property) and would benefit from hearing more from your experiences. What kind of pricing do different parts of NJ bring for multifamily and what kind of rent-to-income ratios, any problems you guys generally see? Thanks.

    I can't speak too much to North Jersey but I will say the higher taxes make it tough to have numbers work in your favor up there. In my coverage area, New Brunswick, Perth Amboy, Carteret, Union, Elizabeth, Plainfield, Bound Brook, Dunellen, North Plainfield, Manville are just a few off the top of my head that are big rental towns.

    Peter you cover that far north, into Union? I may have to start looking down there if you do 🤔

    Union is as far north as we go in Union County. I grew up there so I know the town very well. 

    Thats pretty far north in Union. I'll seriously keep that in mind if i move a little farther south. 

    0Reply
  • Ayelet Wiedermann
    Passaic, NJ · Member since 2024 · 26 posts · 17 votes
    2y

    I know this is an old post, but I just saw it now and figured I'd add a comment here in case any of you are still looking for a PM in North Jersey that offers excellent service!

    Keyrenter is an established residential property management company with close to 10,000 properties across the country. Keyrenter North Jersey opened this year, leveraging the proven processes, systems, technology, and infrastructure of the large organization, combined with the focus, support, customer service and local expertise of a small business. We're growing quickly as we fill the void that several of you have identified.

    Feel free to check our website or give us a call to learn more.

    0Reply
  • Ryan Donohue
    Real Estate Agent · Ridgewood, NJ · Member since 2015 · 114 posts · 43 votes
    2y

    Nick Sansivero, I have a 2-family in North NJ and honestly don't think Property Management is worth it on something that small. Unless you have a very high maintenance tenant or tons of old plumbing/mechanicals you can do really well by having an 'emergency list' of really good handymen, plumbers, hvac tech, etc. Always ask for referrals and get into a rhythm of maintenance plans. Guarini Plumbers in Jersey City are great and A Degree Above Heating & Cooling are very personable. 

    BONUS TIP: I just read on a listing that I'm going to adapt: Include in tenants lease they must pay for PSE&G Worry Free service. That way any water heater, furnace/boiler, etc are covered by that insurance policy. 

    0Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    2y

    @Nick Sansivero

    Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.

    Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.

    Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

    To avoid going through the same poor experience, keep reading.

    Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.

    In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

    It's often a case of not doing enough research, as they don't know what they don't know!

    Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

    So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.

    EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!

    This also leads owners to ASSUME simpler is better when it comes to management contracts.

    The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

    A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?

    We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

    EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

    P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊

    Logical Property Management4.9446 Reviews
    WebsiteView Page
    1Reply
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