Out-Of-State Owners Of New Jersey Property
Do you own property in New Jersey, but live outside the state? Across the state there are just over 100,000 residential properties owned by people who reside in other states. Where we primarily work, Middlesex, Monmouth and Mercer Counties, there are just around 11,000 of these properties.
There are countless reasons why people become out-of-state owners of property. Many people that call us tell us that they did not become an out-of-state owners on purpose, instead, something happened that forced them into the situation. Some of the most frequently cited reasons include -
I tried to sell my property before I moved, but didn’t get a good offer
I thought it WAS sold before I moved, but then the deal fell through
I got a good job offer and had to move before I was able to get the property ready to sell
I inherited the property and then had to wait months for the court to give me permission to sell
I had tenants and thought I’d hold onto it for income, but it turned out to be more trouble than it was worth
Regardless of what prompted a person to become an out-of-state owner, the issues that everyone of them faces are the same: maintenance, taxes (which in New Jersey are astronomical), insurance, and monthly payments. And if you are an absentee landlord you have the added headaches of long distance management and rent collection.
We work with out-of-state owners all the time and offer them solutions that help them get out from under their problem property. Call or email us today to and we will be glad to discuss with you the services that we offer.
Tags: 
new jersey : 
landlord : 
"absentee owner" : 
"real estate"
