The Life of a New Jersey Property Manager & Realtor – Week 1
Tverdov Housing is a New Jersey real estate company founded in 2014 that offers property management and realtor services in Middlesex, Somerset, and Union County. We also act as a project management consultant for rehabbing properties. If you’ve like to learn more about the role of property managers like us, and what we deal with on a day to day basis, you can follow this weekly series!
Items to Do this Week:
-We have a rough inspection scheduled for a new property on 65 Guilden St in New Brunswick. We helped the buyer find a rental property in New Jersey to buy, and now we are helping to renovate the property for them. Once that’s done, we’ll take over their rental peoperty management in New Jersey. We gutted the second-floor apartment down to the studs, removed two walls, and have finished re-framing, running new plumbing, new electric, and installing new HVAC. Now we need to pass the first inspection!
-We’re managing a small renovation: 35 High St in New Brunswick. We recommended painting every room in this two-family house, and we are also in the middle of fixing the gas pipes in the home as they had several leaks! That is why it’s good to have a construction project manager to oversee your projects.
-Lastly, we are putting the finishing touches on another apartment in New Brunswick where we represented both sides on the real estate transaction – 214 Easton Ave. We upgraded the electric service to the property and have scheduled a fire alarm company to come install a system to monitor the new fire suppression system.
Recap of Last Week:
-Last week, we sold two houses for sale in New Brunswick for investment property clients. Despite listing a house for sale in New Brunswick during COVID-19, we received FULL asking price. As one of the trusted property management companies in NJ, we managed the house for the three months the house was under contract. Then we helped to make asbestos, mold, and foundation repairs. Let’s be honest – what other realtor in NJ would take care of those additional items for clients? It’s a rare case, but at Tverdov Housing, we do it all.
The second house we sold is three houses from College Ave, near Rutgers University; it’s like the equivalent of buying Boardwalk in Monopoly! We represented the buyer and seller on that one, and hope to take care of the property management for the new buyer when the time comes.
-For property management, we had five appliances delivered to five different houses last week, including three in one day. That was fun coordinating the logistics of all the deliveries. Pro Tip: the average cost to fix an appliance is $250, a brand new one from a big box retailer is $550-$600. If the appliance is 20+ years old or has been repaired 1-2 times under our management care, we recommend replacement.
-Lastly, we finalized the return of 40 security deposit return letters. We turned over 40 student rental units in a two week period at the end of May. The last step in that process was documenting the final water bills, rent owed (if any) and deducting for any repairs. All of those letters finally went out, so next week we might talk about all of the phone calls we may get (or hopefully not). If you’ve read our previous blog post: 5 Tips for Managing Student Rental Properties you’ll have an idea of the headaches we deal with there.
If you want to follow what we do day to day, check us out on Instagram: @tverdovhousing
Until next week!