All Forum Posts by: Peter Tverdov

I specialize in Central NJ. Lots of good rental markets in this area: Union, Linden, Rahway, Carteret, Perth Amboy, New Brunswick, Highland Park, Bound Brook, Manville, North Plainfield. 

You would be surprised at how many people in this country have medical debt. I don't even pay attention to it unless it's an absurd amount. 

Very simple. PS - there is almost always one water line to a property.

Take the water bill for the property and divide it equally amongst the tenants in the building. So even if you have a mix of 1,2,3 bedrooms, each tenant is still paying the bill portion.

Here in NJ we don't dig out their cars or plow the driveway.

We do pay for someone to shovel and salt. We don't want the tenants making the owner or property management company liable for a slip and fall. Rather the landscaper deal with that. 

I think you guys are talking about two different things. There is a huge difference between a multi-family apartment building and a duplex. Multi-family is a more complex underwriting. A 2-4 family is simple. Taxes, insurance, property manager (if you want), vacancy rate, repairs, capex. 

We are a property management company in NJ. We manage a handful of condos/townhomes. In our experience, they're not really rentals. It's usually someone who bought one, doesn't want to sell it and rents it out to get it barely cash flowing. 

Certain HOAs can also make them a bit more difficult from a management perspective and even worse, if you have a bad tenant you will get hit with HOA fines left and right.

We manage over 100 properties in NJ. We have a few different landscaping crews responsible for snow removal. It takes the liability off of you and puts it on the contractor. You might need to call around until you find someone, but you will find someone.

You're being a bit stricter than we would (property management company that manages over 100 doors) but you're in the ball park.

Remember, it's a rental, they're not applying for a mortgage.

If you have questions during the application process that need answering that's totally fine.

If you're going to have properties in a rough area, your list of PMs will likely be limited.

Hi Jennifer, we manage over 100 rentals in NJ. I'm not an attorney but I would recommend you start posting and mailing (certified mail) the Notice to Quit to at least start the eviction process. Some tenants like to play chicken with landlords until they get those notices. If they're not going to pay then you'll have to ride out the eviction moratorium. Once they receive it, you can offer them to move out by the end of the month and you'll stop the process.