Why Hire a Property Management Company for my Jersey Shore Home?

Some people choose the Jersey Shore to live year round.  Others decide it’s the perfect vacation destination.  During the summer especially, the population of most Jersey Shore towns swell by thousands.  You decide to invest in a second home here to capitalize on the tourist population as well as a possible vacation home for yourself.  You’ll probably need someone to watch your property while you’re not there.  So, why should you hire a property management company for your Jersey Shore home?  It just makes good dollars and sense.

Why should you hire a property management company? Collecting rents, screening potential tenants & knowledge of landlord/tenant laws to name a few reasons.

Why Hire a Property Management Company?

Time

Nowadays, who has the time to keep up with their primary residence, let alone a second home?  A property management company screens potential renters. They run background checks as well as credit checks.  Then, they take care of any complaints that may arise from renters.  Finally, they collect rent and any deposits required.  Do you have the time to do this?

Location

Search homes for sale at the Jersey ShoreDo you live in Princeton, Newark or Paterson?  That’s a long way to go if an emergency arises at your second Jersey Shore home.  A local property management company can handle any emergency that arises.  They act on your behalf.  That means they get the call at 2 am from a frantic tenant rather than you.  Also, they often either have in-house maintenance staff or work with local contractors to get the situation under control quickly, efficiently and most cost effectively.

Marketing

Not only does a good property management company handle current tenants, they also provide marketing to find your next renter.  Since they are local, they know how to cater advertising to appeal to the market.  You’ll never have to worry about a vacant property when you have the next renter already lined up.

Knowledge

Do you know all the laws regarding landlords and tenants?  A reputable property management company should.  For example, they know whether or not you are legally allowed to evict an unruly tenant.  They also know what information must be disclosed to potential tenants before a lease is signed.  A property management company can tell you how much of  security deposit you are legally allowed to charge and what time frame you have to return it upon vacating.  This is their business.  Any property management company worth their salt can answer these questions for you.

Interview several different property management companies before settling on one.  Research their reputation ahead of time.  Talk to local renters and your Jersey Shore REALTOR@ to see who they recommend.  You can start by  contacting Apex Property Management  as your first stop for your interview.  You can also search the Business Directory at the Better Business Bureau to see if there have been any complaints filed against them.  The more thorough your homework, the better chance you’ll have of finding a great property management company to take care of your second Jersey Shore home.

FEATURED JERSEY SHORE HOME OF THE WEEK

15 Essex Ct Margate NJ

For more information on this and other homes for sale on the Jersey Shore, please visit my Featured Listings page.

Sherri Lilienfeld, Helping You Live Your Jersey Shore Dream

Benefits of Owning a Jersey Shore Condo

Lower costs, less maintenance, a lower down payment and added amenities are just a few of the benefits of owning a Jersey Shore condo instead of a home.You love the Jersey Shore.  You and your family have spent many summers here.  Now is a great time to buy.  Worried about the cost and upkeep of a single-family home?  Have you considered condos?  There are several benefits of owning a Jersey Shore condo instead of single-family home.

Benefits of Owning a Jersey Shore Condo

Search homes for sale at the Jersey ShoreThe cost and maintenance of a home might scare off some First Time Buyers. But they’re tired of renting.  For the older generation, retirement looms on the horizon.  They’re empty nesters looking to downsize.  Others need a weekend getaway or want to spend the summer at the beach.  A Jersey Shore condo fits nicely into all scenarios.

Lower Down Payment Required

One of the biggest obstacles Buyers face when buying a home is the down payment.  For First Time Buyers, it feels especially daunting.  They don’t have any profit from a previous sale to utilize.  With a Jersey Shore condo, you most likely need less money down to get a loan.  That’s because the cost of a Jersey Shore condo tends to be much less than a single-family home.  For Buyers looking to downsize, you might not have to put all your profit from your previous sale down on the new property.  That leaves extra to spend on renovations, retirement, travel or anything else you desire.

Less Maintenance

Jersey Shore condos occupy a much smaller footprint.  A smaller home means less maintenance.  No more mowing lawns, repairing roofs or fixing cracks in the driveway.  HOA fees typically cover groundskeeping and building maintenance.  Also, many condo buildings offer fantastic amenities such as pools, gyms, tennis courts and recreational activities.  This is all included in your HOA fees.  This is really great if this Jersey Shore condo is your weekend or summer getaway.  You don’t have to worry about the upkeep while you are gone.  It’s ready for you when you get back.

Lower Costs

No one enjoys paying utility bills.  However, with a Jersey Shore condo, they cost less than a large single-family home.  Why?  The smaller footprint.  The savings you receive here could help fill the coffers for a bigger Jersey Shore home down the line.  That’s helpful for new property owners.

When you’re ready to start looking at Jersey Shore condos, please feel free to contact me.  Not sure where to look?  There are some great summer rentals available right now.  This can help you decide on a permanent location without the commitment of a purchase.  Besides, a summer rental gives you plenty of time to look around without feeling rushed.  I’d love to hear from you.  Call me now!

FEATURED JERSEY SHORE HOME OF THE WEEK

3851 Boardwalk, Atlantic City, NJ - click here for more information on this ocean view condo for sale in Atlantic City.

For more information on this and other homes for sale on the Jersey Shore, please visit my Featured Listings page.

Sherri Lilienfeld, Helping You Live Your Jersey Shore Dream

The Don’ts of a Jersey Shore Vacation Home Purchase

The Don'ts of a Jersey Shore Vacation Home Purchase - Knowing what NOT to do when buying your second, vacation or investment home at the Jersey Shore can be just as valuable as knowing what TO DO.Every summer, thousands of people flock to the Jersey Shore to take in the sun, the sand and the social scene.  Low interest rates and more affordable prices have made it easier now than ever for buyers to invest in a Jersey Shore vacation home.  Even in the off-season, Jersey Shore rentals are a hot a commodity.  Just because the market is currently tilted slightly in the buyer’s favor doesn’t mean you should throw caution to the wind.  You still need to be smart with your investments.  Here are a few of the “Don’ts” of a Jersey Shore vacation home purchase.

Don’t get caught up in a frenzy.  Yes, Jersey Shore market conditions are favorable.  That’s a good thing.  However, don’t worry when that “perfect” Jersey Shore vacation home is on and off the market in a flash.  Most likely, there will be others that work just as well for your needs coming on the market soon.  Make sure your Jersey Shore real estate agent knows what you are looking for, including price range, amount of bedrooms and location you are interested in, so they can let you know when a home that fits your interests pops up on their radar.  They will most likely see a property before you do.

Don’t hesitate.  The old proverb “he who hesitates is lost” is appropriate in today’s bustling Jersey Shore vacation home market.  When you see a property you like, be prepared to make an offer right away.  Also, make sure that you acquire and maintain loan approval.  Nothing is worse than finding that perfect home, putting in a bid and finding out your funding isn’t there.

Don’t panic.  While the market shouldn’t necessarily dictate whether or when you buy your Jersey Shore vacation home or investment property, it would still be foolish not to take the current market conditions into consideration when you do decide to buy.  Making an offer without considering what’s happening in the market around you may cause you to lose out on a few homes.  This, in turn, may cause you to panic and make a foolish offer on the next property out of sheer desperation.  Then, you overpay for a property you really weren’t all that thrilled about to begin with just so you wouldn’t lose out on yet another property.  Talk to your Jersey Shore real estate agent about what types of homes in the area sell the quickest, how long they are usually on the market, if you should expect to possibly get caught up in a multiple offer situation and how much over asking do the type of Jersey Shore home you are interested in typically sell for.

Don’t guesstimate your finances.  Ultimately, the best thing for any Jersey Shore vacation home buyer to do is to get pre-approved for a mortgage loan before they even go looking.  This allows you to confidently put in an offer that you know you will be able to pay for and looks great to sellers.  This also ensures that you don’t offer more than you will be approved for on any Jersey Shore property you are interested in.

Don’t overpay for a Jersey Shore property.  Remain level-headed with a firm number in mind.  If you find yourself just one of several buyers interested in the property, don’t get caught up in the pressure of a bidding frenzy.  You may find the previous asking price has suddenly shot up well above what it is worth.  Also, make sure you speak to your real estate agent and really listen to their advice on whether the property is worth what the seller is asking for it.  They can pull the comps in the area to make sure you are still getting a fair deal.  Remember, you have hired them for their expertise.  So, it would be silly not to listen to their advice when it comes time to make an offer.

When buying a Jersey Shore home, whether it be your first, second, investment or vacation property, you need to always keep a level head.  Knowing what NOT to do in this situation can be just as valuable as knowing what TO DO.  Please contact me when you are interested in beginning your search.  I know this area like the back of my hand, love it with all my heart and promise to work hard to get you the best deal possible.

Sherri Lilienfeld, Making Your Jersey Shore Dreams a Reality