All Forum Posts by: Chris T.

Thanks for sharing

I'm currently going through the eviction process for a tenant in New Jersey, Morris County.  I expect the tenant will have some abandoned cats that I will have to deal with after the lockout.

Any recommendations on how to best handle the animals ? and does anybody know what my obligations are as a landlord since the cats are technically the property of the tenant?

Hi Jose, 

New Jersey can be difficult to get started for sure because of the barrier to entry with the high prices and property taxes we’re seeing. I still only have a small portfolio, but where I’ve been successful is house hacking in cash flowing areas (ie near colleges) and buying condominiums In neighborhoods that had potential for appreciation (ie jersey city).

That said, my next investment will likely be out of state. If you look at data on the cost of buying vs renting in the US, New Jersey ranks the worst in terms of the value of home ownership. This disparity obviously impacts single family’s the most, but definitely trickles down to other types of multi family. Essentially, in most cases you are better renting in New Jersey and using your down payment funds to buy an investment property out of state. 

Best of luck in your search

Hi Elizabeth,

1st question is if any of this is captured in your lease? Does it say anywhere in your lease that you are responsible for painting, filters etc?

If not, you have a very strong case for her not following the standard tenant laws for NJ and the Tenant Protection Act of 1992. Make sure to review the NJ truth in renting document and educate yourself on the laws.  https://www.state.nj.us/dca/divisions/codes/public.... 

"Deductions may include the cost of any damages over and above normal wear and tear, and any other money due the landlord under the terms of the lease."

As Anthony mentioned, this sounds like normal wear and tear. If I was in your shoe's I would inform her of these laws and let her know that I was ready to get a tenant lawyer if needed.

NJ Truth in Renting: "If a landlord fails to return the security deposit within 30 days, or the tenant disagrees with the amount deducted, the tenant may sue for double the amount of the security deposit that the tenant contends was wrongfully withheld."

Good luck

Great question Sean, I've always done a full lease renewal with my NJ properties. Curious if anybody has found a shortcut for renewals as well.

I need to replace some old windows in a rental property in Morris County. Any suggestions for who to use that would provide decent pricing and quality for an investment property? Also, what have people seen as average price per window for a standard size (53x31) double hung window in New Jersey?

Hi Sean,

I just recently closed on a multi-family property with a single section 8 tenant in Morris County that has been there for many years. It's my first section 8 tenant, so i'm still learning the ropes. I don't know that a seller has to disclose it, but it should be something that is discussed when you review rent roll and you should always ask as part of your due diligence. 

Here's what I've learned so far with my experience....

1- Find out if there is a local housing assistant rep that you can build a relationship with. This person will be vital to your success. I was able to work with them to get a 5% rent increase put in place within 2 months of closing. (Part of this was timing since the existing lease was coming up on its expiration).

2 - As others mentioned, make sure you understand the rules of the program and educate yourself ie. annual inspections are required, need to use the same lease terms as other properties, rent increases may need to be approved by the housing assistance administrator well in advance, etc. Many section 8 tenants are professional renters, so make sure you know the rules too.

3- The subsidized rent comes in like clock work, direct deposit to my bank account the 1st of the month. Hard to beat that.

4- Building clear communication with the tenant helps significantly. The tenant I inherited was a bit  behind on rent with the prior owner, I was getting ready to start the eviction process once I closed and had figured out my options. 1. Give him the opportunity to pay what he owes me for rent, and set a plan to stay on track going forward. Since he had lived there for so long without the two previous owners needing to evict him I thought it was worth working it out, 2. Cash for Keys, 3. Painful Eviction process. Option 1 has worked so far, fingers crossed going forward.

Good luck.

@Ryan Murdock & @Andrew Kerr . Thanks both for the replies, I'll look into this.

I'm currently looking into a buying a multifamily property in New Jersey. It was once a two family, converted to 3 units many years ago. According to the owner it's been grand fathered in (still need to find out what that means) and he has no issues with zoning.

One thing I did notice is that a unit on the 2nd floor only has a single egress, just the front door on the 1st floor. 

Is this legal?

Only way I can see this being allowed is since it's only a 2 story residence?

Any thoughts or insights would be appreciated.

This is great Peter, looking forward to following this journey.