Experience with CJ Real Estate?

Question

Hi All,

Hope you're having a good week. Has anyone worked with CJ Real Estate in Kansas City: https://cjproperties.org/? They're a property management firm who's been managing units since 1987, according to their website. Any information you could share would be much appreciated.

Thanks in advance!

James Wong · Answer

It's been good. No problems.

Alex Olson · Answer

I would recommend Atlas rentals and AMG at this time. But not sure how many units you are looking to put under management?

Account Closed · Answer

@James Wong - How has your experience with CJRE been since your last post?

@Snehann Kapnadak- did you ultimately go with CJ? I am currently looking for Kansas City PMs

Any insights would be welcomed!

Snehann Kapnadak · Answer

@James Wong Thanks for the followup! Seems like they did a decent job with the turnover. I'm sure if you get more properties managed by them they'd give you more attention to reduce turnover time and prioritize filling up your rentals.

James Wong · Answer

Just wanted to follow up on this. This is my first investment property out of state. My SFH had a tenant vacate on 10/30/2019. Notice to vacate was received sometime in July of 2019. The time to make rent ready for fairly quick. I think it took a week for this.  Today ( January 2019) the vacancy was filled with a move in date around the end of the month. My initial impressions was that winter is probably a difficult time to fill a vacancy. I think there were a total of 30 leads. 3 prior leads through November and December did not materialize (credit history, not following through with security deposit). I was disappointed that the pictures used for marketing were antiquated. I think I saw the same pictures used with the prior rental posting a few years before I acquired this property. I Acquired this SFH with significantly below market rate rent and was able to achieve market rate this January. I know that I forgot to switch the water utilities to my name and CJ properties helped me with this. They had to physically drive to the utilities company to get this done as the utilities company did not allow for deposits to be done online or over the phone. I did have to give a rent concessions sometime in December to try and generate more leads. It did help. Going through Christmas and New Years, the leads were silent. I have a 18 month lease now so the lease can expire in the spring/summer. Winter is much more difficult to fill a vacancy. The postings were advertised on a 4-5 internet postings. I only knew Of 1 of them. The other posting websites I was unfamiliar with. I think overall CJ properties did a good job of handling a tenant turnover for me. The bill to make rent ready was not outrageous in cost. Well that’s my experience so far. Again I have no reference to the Industry standard of how long a tenant turnover should take. I’m not sure how many leads should be generated before having to reassessing rent rate or concessions. I think I saw some investors using 4% in their calculation for their vacancies. I think I would probably budget for 12% for vacancy in my future calculations. Additionally I think looking into lease expiration vs season may affect this number.

Snehann Kapnadak · Answer

@Michelle Lutz & @James Wong Thanks for the insights!

James Wong · Answer

Just saw your post; I have a SFH with CJ Real Estate currently. I'm currently in process of tenant turnover. I can let you know how it goes as it progresses.

Michelle Lutz · Answer

I am the selling agent on a 4 plex right now and CJ is the PM. I do not have any experience with them directly but the seller speaks highly of CJ.

Experience with CJ Real Estate?

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