6 Apartments Montclair, NJ
32 Apartments Newark, NJ
150 Apartments Jersey City, NJ
25 Apartments Plainfield, NJ
35 Condo Units Elizabeth, NJ
22 Apartments Newark, NJ
With over 12 years of experience, NJ Property Management offers rent receivership assistance at a high level of proficiency that surpasses the competition. We have a reputation for circumventing much of the difficulty of real estate management in distressed areas and it’s with great confidence that NJ Property Management aims to provide its rent receivership services on a broader scale. We consistently provide area banks with successful recoveries, and because we have particular expertise in urban centers, we often take on the added responsibility of dealing with high tenant turnover, inconsistent rent collection, excessive property damage and the need to retrofit neglected properties to meet building codes. We do this with the utmost efficiency because NJ Property Management does not subcontract, but rather employs its own staff of trained maintenance professionals.
Residents, inspectors and investors have come to expect speed and efficiency from us whenever upkeep is required. We pride ourselves on this superior property management and also our capacity to revitalize properties.
Why choose a rent receiver to take collection of properties in foreclosure? Simply put, most New Jersey foreclosures are taking upwards of a year to complete, causing non-performing assets to lose their value precipitously. It is imperative that lenders seek the assistance of a rent receiver in order to collect rental income, while shielding themselves from the liabilities therein, including third-party injuries, zoning problems, misapplication of rents and environmental violations.
We at NJ Property Management consistently help banks avoid just such burdens when we seize assets of their insolvent estates. As an independent third party appointed by the court, we take possession of foreclosed properties and account for all monies and securities therein. We temporarily assume the role of owner and receive rent, paying all operational expenses and performing all managerial functions as the court instructs. Further, it’s incumbent upon us to evict non-paying tenants and advertise vacancies, reducing the chance for vandalism to properties and most of all, avoid profit loss.
Services: NJ Property Management offers the following services:
- Takeover reports, which outline information about the asset including vital accounting details.
- Consulting valuations, which include an appraisal of operations as well as profit and loss statements.
- Property seizure, after which an auditing of accounts receivable and payable is conducted, determining assets and liabilities.
- Preparation of all court-required bankruptcy reports and management of all rent receivership upon foreclosure.
- At the conclusion of the receivership, a submission of final accounting to the court for approval and the filing of an order to terminate.
- Increase your collections
- Schedule repairs and maintenance
- Keep your vacancies to a minimum
- Free up your time for more urgent matters
- Keep you informed of court filings and lockouts
Our staff has 25 years experience in various aspects of Property Management. We have one of the finest software programs available to property managers accessible to you 24-7.
NJ Property Management provides professional real estate services including property management, consulting, and brokerage services to owners and investors of apartment and commercial properties in select markets throughout the tri-state area.
NJ Property Management is strictly a fee based management firm without competing ownership interests in real estate holdings. NJ Property Management is an independent, unaffiliated property management company without ownership interest in real estate assets. Consequently, our services are provided to clients without conflict’s of interest.
Our clients consist of individual owners with diverse ownership objectives and servicing requirements. Our client is our number one concern and their real estate holdings is our main objective. NJ Property Management wants you as an owner of one unit or five thousand to reach the understated goals as soon as you sign with NJ Property Management.
We at NJ property Management realize the time and dedication it takes to owning real estate. Lock box service is a safe and secure way for your tenants to pay their rent through the mail. Lock Box service is set up through the Post Office and is picked up each morning, posted to your tenants individual account. The money is then banked in your business account each day. We then fax to you a copy of the deposit slip, keeping you informed of the money collected on a daily basis.
At NJ Property Management, we offer a rent collection service so there is no hassle for tenants paying their rent. Rent can only be paid in check or money order and then entered into the computer. No cash will be accepted. This allows the owner the peace of mind of money disappearing and allows the owner to delete the hassle of collecting rent from their tenant. All the tenant has to do is either mail in their payment or come by our office to drop it off. This way, no more excuses as to tardiness on payment of rent.
A place where tenants can walk in and pay their rent in a friendly and helpful environment.Checks and Money Orders will be the only form of accepted payment. Cash will not be allowed as payment. Thus allowing the owner the exact knowledge of which tenant is up to date and the tenant who has been delinquent, a great necessity for any owner or tenant. This allowing the tenant the best possible way to keep up with their rent and any unresolved issues can be discussed at this time and can be brought to the property owners attention.
At NJ Property Management we offer a tenant screening service so you, as the owner, know exactly who is renting your unit and whether or not they have a history. This is very useful so you have the ability to pick who you want as a tenant based on payment history.
At NJ Property Management, we take care of the eviction process. We take the necessary legal action towards evicting tenants by filing a warrant of removal once the court dispossesses action has been completed. With the service of a constable, a tenant will be served and locked out of their unit should this become necessary. The landlord will be kept informed as to who is being served with a warrant of removal and who is being locked, before it occurs.
Court Representation (bookkeeping)
We at NJ Property Management will handle the filing of your dispossesses in a timely manner and will represent the bookkeeping records in court along with the representation of an attorney. Keeping the owner informed of the outcome.
We at NJ Property Management will send to the owner a set of monthly reports, showing the income and, if desired, the expenses that have transpired in the month’s time. The owner will also be given a vacancy report, a recap of the tenants records and a current rent roll.
Section 8 & HUD Program Management Specialists
We at NJ Property Management have staff members who are knowledgeable of all Section 8 rules and regulations and public housing programs in the tri-state area.
At NJ Property Management we have several attorney firms and constable firms that we do business with. Their fees are affordable and they offer excellent service. If the owner has their own constable and/or law firm, we will accommodate and work with them in the best interest of the owner.