If you are in the position of needing to hire someone to look after a portfolio of rental properties or maybe you’re a board member of a homeowners’ association, you probably have a few questions about property management companies. Keeping this in mind, we put together a list of questions to ask a prospective property manager, so that you can make the best possible choice.
While some people may be familiar with the duties and responsibilities of property management companies, not many people are aware of their obligations with respect to real estate licensing laws. Although most of a property manager’s time is consumed with resident concerns and upkeep of their properties, they also have to abide by the rules set forth by the New Jersey Real Estate Commission if they wish to rent or lease properties in New Jersey.
If you’re someone who owns multiple properties you’ve likely thought about hiring a property management company to take care of the day-to-day operations you may not have time to perform. Perhaps you’re not sure, though, about exactly what it is that property managers do and how utilizing a property management company would benefit you and your business. Property managers and property management companies in New Jersey provide important services for property owners. The fact is that not everyone who owns multiple properties has the time necessary to keep those properties fully occupied, safe, and in good working order. In fact, oftentimes folks who own apartments or other tenant-occupied buildings have other careers that prevent them from managing their properties the way they would prefer. That’s where property managers come in.