You might own a rental property in New Jersey and wonder if you need a property management company to take care of it. A property management company can make your life easier and your property more profitable, but it also has a price.
How can you decide if it’s worth it? How can you find the best property management companies in New Jersey for your needs?
We are here to help you with this article. We will tell you what property management is, how it can benefit you, what services it can offer, and what to look for when choosing property management companies in New Jersey.
Expertise in the Hudson county area
Full-service property management solutions
Professional property management services in Jersey city
Personalized property management services in Northern New Jersey
Trusted property management services in New Jersey
Looking for a reliable property management company in New Jersey? You’ve come to the right place.
We analyze the best property management companies in New Jersey, based on their experience, reputation, services, fees, and customer satisfaction. Whether you own a single-family home, a condo, an apartment, or a commercial property, you can find a company that suits your needs and budget.
Here are the top five property management companies in New Jersey for 2024.
1. ARC Property Management – Expertise in the Hudson County Area
- Provides excellent management services to homeowners and investors
- Executes every detail to add value to property needs
- Has a strong presence and experience in the luxury market
- Uses state-of-the-art software and online platform
- Offers a variety of services, such as general maintenance, project management, tenant selection, and real estate consulting
- Only serves the Hudson County area
- Does not have a 24/7 emergency number
Why Choose ARC Property Management?
ARC Property Management is a reputable property management company that focuses on the real estate needs of NJ and Florida investors. They have a team of certified apartment managers, licensed real estate agents, and bilingual staff who are passionate, dedicated, and professional. They strive for seamless operation and customer satisfaction.
- Condominium management
- Single/multifamily management
- House watch
- Renovation management
- Absentee owners programs
- Positive customer reviews and ratings on their website and social media
- Has been in the real estate industry for over 10 years
- Has a newsletter to keep customers informed on their latest blogs
- Phone: 551-444-9010
- Email: firstname.lastname@example.org
- Address: 97 Newkirk Street, Suite 319, Jersey City, NJ 07306
You deserve the best service for your home or investment property in the Hudson County area. That’s why you should choose ARC Property Management, the property management company that does it all. They know how to manage your property with skill and quality, using the latest technology and resources.
2. Ardent Management – Full-Service Property Management Solutions
- Manages residential and commercial properties of all sizes and types
- Provides customized services to meet the specific needs of each client
- Has a network of qualified vendors and contractors
- Handles accounting, reporting, leasing, marketing, and legal issues
- Ensures compliance with local, state, and federal laws and regulations
- Charges a monthly management fee based on a percentage of the rent collected
- Does not have a clear refund policy on their website
Why Choose Ardent Management?
Ardent Management is a full-service property management company that serves the entire state of New Jersey. They have over 20 years of experience in the real estate industry and a proven track record of success. They are committed to providing exceptional service and value to their clients and tenants.
- Residential property management
- Commercial property management
- Association management
- REO management
- Property preservation
- Has an A+ rating from the Better Business Bureau
- Has positive testimonials from their clients and tenants on their website and Google reviews
- Has a blog to share useful tips and insights on property management
- Phone: 888-299-7506
- Email: email:email@example.com
- Address: 332 Montgomery Street Jersey City, NJ, 07302
If you are looking for property management companies in New Jersey that can handle all aspects of your property management needs, Ardent Management is a reliable option. They offer a wide range of services and solutions to suit your goals and budget.
3. JSQ Realty – Professional Property Management Services in Jersey City
- Specializes in managing properties in the Jersey City area
- Offers competitive pricing and flexible contracts
- Has a team of experienced and licensed property managers and agents
- Uses advanced technology and software to streamline operations and communication
- Provides 24/7 emergency response and maintenance service
- Does not manage properties outside of Jersey City
- Does not offer online payment options for tenants
Why Choose JSQ Realty?
JSQ Realty is a professional property management company that has been serving the Jersey City community since 1998. They have a deep knowledge and understanding of the local market and trends. They are dedicated to providing quality service and care to their clients and tenants.
- Condo and co-op management
- Rental property management
- Investment property management
- Tenant placement and screening
- Rent collection and eviction
- Has an A rating from the Better Business Bureau
- Has positive feedback from their clients and tenants on their website and Yelp reviews
- Has a newsletter to keep customers updated on their latest news and offers
- Phone: 201-798-3500
- Email: firstname.lastname@example.org
- Address: 225 ST. PAULS AVE, SUITE 1D, JERSEY CITY NJ 07306
Don’t settle for less when it comes to your property in the Jersey City area. Choose JSQ Realty, the property management company that knows how to take care of your property. Whether you need leasing, maintenance, accounting, or anything else, they can do it for you. JSQ Realty is a reliable choice for your property management needs.
4. LG Realty & Property Management – Personalized Property Management Services in Northern New Jersey
- Manages a variety of properties, including single-family homes, condos, townhouses, and apartments
- Offers a free consultation and property analysis
- Has a team of skilled and licensed property managers, maintenance technicians, and contractors
- Uses online portals and mobile apps for owners and tenants
- Provides monthly statements, year-end tax reports, and direct deposit of rent
- Charges a one-time setup fee and a monthly management fee based on a percentage of the rent collected
- Does not have a clear cancellation policy on their website
Why Choose LG Realty & Property Management?
LG Realty & Property Management is a personalized property management company that serves the northern New Jersey area. They have over 15 years of experience in the real estate industry and a high level of customer satisfaction. They are committed to providing customized and professional services to their clients and tenants.
- Property management
- Property maintenance
- Property marketing
- Tenant screening and placement
- Rent collection and eviction
- Has an A+ rating from the Better Business Bureau
- Has positive reviews from their clients and tenants on their website and Google reviews
- Has a blog to share valuable information and advice on property management
- Phone: 201-706-8400
- Email: email@example.com
- Address: 50 Harrison Street, Suite 318, Hoboken NJ 07030
If you are looking for property management companies in New Jersey that can offer you personalized and professional services for your property in the northern New Jersey area, LG Realty & Property Management is a good option. They have the experience, skills, and technology to manage your property with care and efficiency.
5. Corner Property – Trusted Property Management Services in New Jersey
- Manages over 100 properties across 18 counties in New Jersey
- Provides a comprehensive range of services, such as financial management, administrative management, maintenance management, and project management
- Has a team of certified and experienced property managers and staff
- Uses cutting-edge technology and software to optimize operations and communication
- Offers a 90-day money-back guarantee
- Charges a monthly management fee based on a percentage of the budgeted expenses
- Does not offer online payment options for owners
Why Choose Corner Property Management?
Corner Property Management is one of the most trusted property management companies in New Jersey that has been serving the New Jersey community since 2004. They have a reputation for excellence and integrity in the real estate industry. They are dedicated to providing outstanding service and value to their clients and residents.
- Condominium management
- Homeowner association management
- Cooperative management
- Rental property management
- Commercial property management
- Has an A+ rating from the Better Business Bureau
- Has positive testimonials from their clients and residents on their website and Facebook reviews
- Has a newsletter to keep customers informed on their latest news and events
- Phone: 973-376-3925
- Email: firstname.lastname@example.org
- Address: 11 Cleveland Place Springfield, NJ 07081
If you’re in need of the best property management companies in New Jersey that can handle all aspects of your property management needs, Corner Property Management is a reliable option. They offer a comprehensive range of services and solutions to suit your goals and budget. They also have a 90-day money-back guarantee to ensure your satisfaction.
What Is Property Management?
Property management is the daily oversight of residential, commercial, or industrial real estate by a third-party contractor.
Property managers take responsibility for tasks such as:
- Screening potential tenants
- Signing and renewing leases
- Collecting rent
- Handling maintenance and repairs
- Setting and adhering to budgets
- Complying with state and local laws
- Marketing properties
- Supervising other employees
- Handling taxes
Property owners pay property managers a fee or a percentage of the rent generated by the property while it is under their management. Property management licensing requirements vary by state, so property owners need to make sure that the firms they hire are properly licensed by the local real estate board.
Benefits of Hiring Property Management Companies in New Jersey
Hiring the best property management companies in New Jersey can have many advantages for property owners, such as:
Time and Stress Reduction
Managing a property can be time-consuming and stressful, especially if you have multiple properties, live far away, or have other commitments. Property management companies in New Jersey can handle the day-to-day tasks and issues for you, saving you time and hassle.
Quality Tenant Selection
Property management companies in New Jersey can screen potential tenants for you, using their experience and tools to check their credit, background, income, and references. This can help you avoid problem tenants who might damage your property, cause complaints, or default on rent.
Efficient Rent Collection
Rent collection isn’t as easy as it sounds. In fact, some property owners can feel stressed when asking for what their tenants owe them. Property management companies in New Jersey can ensure that rent is collected on time and in full, using an automated system and enforcing lease policies. They can also handle late payments, fees, and evictions if necessary.
Property Maintenance and Repairs
Property management companies in New Jersey can take care of the regular upkeep and emergency repairs of your property, using their network of contractors and service providers. They can also perform inspections and find issues before they become bigger problems.
Services Offered by Property Management Companies in New Jersey
Different property management companies in New Jersey may offer different services, depending on the type and size of the property, the market, and the owner’s preferences. Some of the common services offered by property management companies are:
Tenant Screening and Placement
Tenant screening and placement involves finding, screening, and placing qualified tenants in your property.
It may include advertising the property, showing it to prospective tenants, conducting background and credit checks, verifying income and references, preparing and signing leases, collecting security deposits and first month’s rent, and conducting move-in inspections.
Rent Collection and Financial Management
Rent collection and financial management services involve collecting rent from tenants, depositing it into your account, and providing you with monthly statements and reports. It may also include paying bills, taxes, and fees on your behalf, setting and adjusting rent rates, and handling security deposit refunds and deductions.
Maintenance and Repairs
You don’t want to busy yourself with upkeep. Maintenance and repair services keep your property in good condition, performing routine maintenance, and arranging for necessary repairs. It may also include hiring and supervising contractors, obtaining bids and estimates, and ensuring quality and compliance.
Legal Compliance and Eviction Handling
Compliance is key in running a business with no financial hiccups. The best property management companies in New Jersey ensure that your property and your business comply with all relevant state and local laws and regulations, such as landlord-tenant laws, fair housing laws, building codes, and safety standards.
It may also include handling any legal issues or disputes that arise with tenants, such as lease violations, complaints, or evictions.
How to Choose the Right Property Management Company in New Jersey
If you own a rental property, you might be wondering whether you need property management companies in New Jersey to handle the daily operations and tenant relations.
Hiring property management companies in New Jersey can save you time, money, and stress, but it also comes at a cost. How do you decide if a property management company is worth your investment? And how do you find the best one for your needs?
We will guide you through the process of choosing the right property management company in New Jersey.
Define Your Property Management Needs
Before you start looking for a property management company, you need to define your property management needs.
What are the goals and challenges of your rental property? What tasks and responsibilities do you want to delegate to a property manager? What are the skills and qualifications that you expect from a property manager?
Some of the common services that property management companies in New Jersey offer are:
- Marketing and advertising your property
- Screening and selecting tenants
- Collecting rent and security deposits
- Handling maintenance and repairs
- Dealing with evictions and legal issues
- Providing financial reports and tax assistance
Depending on your property type, location, size, and condition, you may need more or less services from a property manager. You also need to consider your budget and how much you are willing to pay for property management fees.
Property management companies in New Jersey typically charge a percentage of the monthly rent (usually 8-12%) or a flat fee per unit. Some companies may also charge additional fees for leasing, maintenance, inspections, evictions, and other services.
Research and Compare Companies
Once you have a clear idea of your property management needs, you can start researching and comparing different property management companies in New Jersey. You can use online directories, websites, referrals, or word-of-mouth to find potential candidates. You can also ask other landlords, real estate agents, or local associations for recommendations.
When you research and compare property management companies in New Jersey, you should look for the following criteria:
- Experience and reputation: How long have they been in business? How many units do they manage? What types of properties do they specialize in? What are their ratings and reviews from clients and tenants?
- Services and fees: What services do they offer, and what are their fees? Do they have a clear and detailed contract that outlines their scope of work and terms of agreement? Do they have any hidden or extra charges?
- Location and availability: Are they located near your property, or do they have a local office? How often do they visit and inspect your property? How easy is contacting them, and how quickly do they respond to your calls and emails?
- Technology and software: What kind of technology and software do they use to manage your property? Do they have an online portal where you can access your financial reports, maintenance requests, tenant information, and other data? Do they use digital tools for marketing your property, collecting rent, screening tenants, and communicating with you and your tenants?
- Staff and resources: How big is their team, and what are their qualifications and credentials? Do they have a licensed and insured maintenance crew, or do they outsource to contractors? Do they have a network of vendors and service providers they work with?
- Legal and regulatory compliance: Do they have a thorough knowledge of the local, state, and federal laws and regulations that apply to your property? Do they have a lawyer or a legal team to handle any disputes or evictions? Do they help you with tax preparation and reporting?
Check Reviews and References
After you narrow down your list of potential property management companies in New Jersey, you should check their reviews and references to verify their credibility and performance. You can look for online reviews on platforms like Google, Yelp, Facebook, or Better Business Bureau.
You can also ask the companies to provide references from their current or past clients.
Get in touch with at least three references and ask them about their experience with the company, such as:
- How satisfied are they with the company’s services and communication?
- How well does the company handle tenant screening, rent collection, maintenance and repairs, and legal issues?
- How often does the company provide financial reports and updates?
- How transparent and fair are the company’s fees and charges?
- How easy is it to terminate the contract if needed?
Interview Potential Companies
The final step in choosing the right property management companies in New Jersey is to interview the potential companies and ask them relevant questions.
You should schedule a face-to-face or phone meeting with each company and prepare a list of questions that cover the following topics:
- Company background and experience
- Services and fees
- Property management strategy and approach
- Communication and reporting
- Maintenance and repairs
- Tenant screening and retention
- Legal and regulatory compliance
- Contract terms and conditions
Questions to Ask Property Management Companies in New Jersey
Hiring a property management company can make your life as a landlord much easier and more profitable. But how do you choose the right one for your property?
Here are some questions you should ask before hiring property management companies in New Jersey:
How Many Units Do You Manage?
This question will help you gauge the size and experience of the company. You want property management companies in New Jersey with enough staff and resources to handle your property, but not so many that they lose focus or attention to detail.
A good rule of thumb is to look for a company that manages between 200 and 600 units.
How Big Is Your Staff?
You want to know how many people work for the company and what their roles are. Ideally, you want property management companies in New Jersey with a dedicated team of property managers, maintenance technicians, accountants, and marketing specialists. Ask about their ratio of staff to units, and how they handle staff turnover and training.
Do You Have a Maintenance Crew?
Maintenance is one of the most important aspects of property management, as it affects tenant satisfaction, property value, and legal compliance. You want property management companies in New Jersey with a reliable, qualified maintenance crew that can handle routine and emergency repairs.
You also want to know how they charge for maintenance services, and if they have preferred vendors or contractors for larger projects.
How Long Does It Take To Fill Vacant Units?
Vacancy is the enemy of cash flow, so you want a company that can minimize the time your units are empty. You want to know how they market your property, what channels they use, how they screen tenants, and how they handle lease signings and move-ins. Ask their average vacancy rate and occupancy rate, and how they compare to the market average.
What Happens if My Tenant Doesn’t Pay on Time?
Rent collection is another crucial aspect of property management, as it affects your cash flow and return on investment.
You want property management companies in New Jersey with a clear and consistent rent collection policy, and that can enforce it effectively. Ask how they handle late fees, bounced checks, and partial payments. You also want to know how they report rent payments to you and the credit bureaus.
Have You Ever Filed an Eviction?
Eviction is the last resort for dealing with problematic tenants, but sometimes it is unavoidable. Choose a company that knows how to handle evictions legally and professionally and can minimize the costs and risks involved.
Ask property management companies in New Jersey how often they file evictions, what are the common causes, and how they prevent them from happening in the first place.
What Type of Communication Can Clients Expect From You?
Communication is key for a successful relationship between you and your property management company.
Hire property management companies in New Jersey that keep you informed and updated on your property’s performance, and that responds to your questions and concerns promptly and courteously. You also want to know how they communicate with tenants, and how they handle complaints and requests.
Find out what methods and tools they use for communication, such as phone, email, text, or online portals.
Cost of New Jersey Property Management Services
The cost of hiring property management companies in New Jersey depends on several factors, such as the type and size of your property, the level and quality of services you need, and the market conditions.
However, here are some general guidelines to help you estimate the cost:
- Management Fee: Covers the basic services of the company, such as rent collection, tenant screening, maintenance coordination, and financial reporting. It is usually a percentage of the monthly rent, ranging from 8% to 12%. Some property management companies in New Jersey may charge a flat fee instead, especially for larger properties.
- Leasing Fee: A one-time fee that covers the cost of finding and placing a new tenant in your unit. It is usually a percentage of the first month’s rent, ranging from 50% to 100%. Some companies may waive this fee if they also manage your property.
- Renewal Fee: This is the cost of renewing a lease with an existing tenant. It is usually a percentage of the monthly rent, ranging from 25% to 50%. A few property management companies in New Jersey may waive this fee if the tenant stays for a long time or if the rent increases.
- Maintenance Fee: Covers the cost of repairing and maintaining your property. It is usually a percentage of the invoice from the vendor or contractor, ranging from 5% to 10%. Select property management companies in New Jersey may charge a flat fee or an hourly rate instead, or include this fee in the management fee.
- Eviction Fee: This is a fee that covers the cost of evicting a tenant from your property. It is usually a flat fee, ranging from $200 to $500. Some companies may charge an hourly rate or a percentage of the rent instead, or include this fee in the management fee.
- Other Fees: There may be other fees that vary depending on the company and the services you need, such as advertising fee, inspection fee, late fee, court fee, accounting fee, and so on. Always ask for a detailed breakdown of all the fees and charges before hiring a property management company.
As you can see, hiring property management companies in New Jersey can be a worthwhile investment, but it also comes with a cost. You should compare different companies and their fees, and weigh the benefits and drawbacks of each one.
Ultimately, you want property management companies in New Jersey that can maximize your income, minimize your expenses, and protect your property.
Frequently Asked Questions
We answer the most common questions online about the best property management companies in New Jersey.
What Does a Property Manager Do in New Jersey?
A property manager is a professional who oversees the daily operations of rental properties on behalf of the owners.
Some of the tasks that a property manager does in New Jersey are:
- Screening potential tenants and signing leases
- Collecting rent and handling late payments or evictions
- Maintaining the properties and arranging for repairs
- Setting and following budgets for property expenses
- Complying with state and local landlord-tenant laws and regulations
- Marketing the properties and filling vacancies
- Supervising other employees and contractors
- Handling taxes and financial reports
What Is the Biggest Property Management Company?
There is no definitive answer to this question, as different sources may rank property management companies based on different criteria, such as number of units, revenue, market share, or customer satisfaction.
However, some of the names that often appear on the lists of the largest property management companies in the U.S. are:
- Greystar Real Estate Partners
- Lincoln Property Company
- Cushman & Wakefield
- FPI Management
- RPM Living
How Do I Manage a Rental Property From Out of State?
Managing a rental property from out of state can be challenging, as you may not be able to visit the property regularly, deal with local issues, or build relationships with tenants and vendors.
Some of the tips that can help you manage a rental property from out of state are:
- Hire reputable and reliable property management companies in New Jersey that can handle the day-to-day tasks and communicate with you effectively
- Use technology to automate and streamline your processes, such as online rent collection, digital leases, and cloud-based accounting
- Conduct thorough market research and due diligence before buying a property in another state, and understand the local laws and regulations
- Maintain a reserve fund for unexpected expenses and emergencies
- Schedule regular inspections and visits to your property, and stay in touch with your tenants and property manager
Do Property Management Companies in New Jersey Find Tenants for Rental Properties?
Yes, most property management companies offer tenant placement services as part of their package or as a separate fee.
Property management companies can find tenants for rental properties by:
- Creating and posting attractive rental ads on various platforms
- Hosting open houses and showing the property to prospective tenants
- Screening applicants and verifying their income, credit, and background
- Negotiating and signing lease agreements and collecting security deposits
- Performing move-in and move-out inspections and inventory
Does a Property Manager Need a Real Estate License?
It depends on the state and the type of activities that the property manager performs.
- In some states, such as Florida, a property manager needs a real estate broker’s license if they engage in any real estate activity, such as listing, leasing, or collecting rent for a property.
- In other states, such as Massachusetts, a property manager does not need a real estate license if their main duties are related to property maintenance and management.
Always check the specific licensing requirements for property managers in the state where you operate or hire a property manager.
Hire the Best Property Management Companies in New Jersey
Property management is a complex and demanding business that requires expertise, experience, and dedication. If you own a rental property in New Jersey, you may benefit from hiring a property management company that can handle the daily tasks and challenges of managing your property.
A property management company can help you screen tenants, collect rent, maintain your property, comply with laws, and increase your profits.
However, not all property management companies are created equal, so you need to do your research and compare different options before choosing the best one for your needs.