200 Main St Ste 1, Asbury Park NJ 07712

732-897-1121 info@conoverpm.com

Archive for Month: August 2015

SMALLER PROPERTIES ARE OUR SPECIALTY

We specialize in multi-family dwellings up to 10 units, single family rental properties, single family absentee owner, and individual condominium units.

The variety of services we offer can allow you to have a complete hands off approach if desired, or choose from our a la carte services. We can do as little or as much as needed, from fielding those late night calls from tenants regarding maintenance issues to making your monthly mortgage payments.

 

The John C. Conover Agency, first and foremost, is a full-service Real Estate agency that has provided service for Real Estate needs of the Jersey Shore for over a century. Our methods are time tested, and they have proven to get rental properties occupied at the highest potential income possible.

The variety of services we offer can allow you to have a complete hands off approach if desired, or choose from our a la carte services. We can do as little or as much as needed, from fielding those late night calls from tenants regarding maintenance issues to making your monthly mortgage payments.

Additionally, our resource file is filled with a variety of contractors who provide services at the best possible price and in a timely manner – to keep your tenants happy and those rent checks coming in. You can find some of the basic services that we provide below:

LEASING

  • Set the rent
  • Advertise
  • Phone screen applicants
  • Show the property
  • Screen tenants
  • Set leasing policies

MAINTENANCE

  • Maintain building’s major systems on regular schedule
  • Maintain landscaping
  • Make minor repairs
  • Contract with service professionals as needed

LEGAL KNOWLEDGE

  • Knowledge of Fair Housing laws
  • Loophole-free lease
  • Answer important legal questions properly

TENANT MANAGEMENT

  • 24/7 emergency availability
  • Return non-emergent phone calls quickly
  • Deal with lease violations
  • Retain good tenants through incentives

ADMINISTRATIVE

  • Collect rent
  • Keep records
  • Tax strategy

SET-UP FEE WAIVED

Most management companies will charge an upfront set up fee in the range of $500 per property. We have waived this fee to show our dedication to you and your property

VETTED CONTRACTORS

We give the best and we expect the best. Our resource file is filled with a variety of contractors who we personally trust to provide you with services at the best possible price and in a timely manner.

Jared Newarski, one of our account managers, ran his own successful home repair and contracting business before joining the family business at Conover. He uses his expertise and contacts to get you the best work at the best price.

Here’s Another Post

It’s about property management too. 🙂

6 Ways REITs Benefit from Third-Party Property Management

Public REITs can achieve cost savings by outsourcing property-level services, according to a newly released report by CBRE.

The report, based on an internal study regarding third-party property management for public REITs, was undertaken by David Fick, a professor at Johns Hopkins University and former head of REIT Research at Legg Mason Real Estate Group. Its goal was to discover how expanding external property management services can benefit REITs. The study involved a review of CBRE’s relevant company financial data, internal tools, software, management manuals and online systems used to run properties.

As a result of the study, CBRE now believes internal property management for REITS needs a re-examination, according to Drew Genova, CBRE’s executive managing director, based in Washington, D.C.

“The whitepaper is as much about a study of our property management services and benefits as it is about asking public REITs to consider their property management options, internal or external, on the merits of what is most accretive to their overall strategy,” says Genova. “The message is about providing best in class property management services with a key focus on delivering property level savings, increasing asset value and delivering a great experience for the tenants. The goal is to improve occupancy levels and maintain above market average tenant retention rates. “

Here are the report’s six most important takeaways, according to Genova:

  1. The public REIT sector is rapidly evolving. It recently crossed the $1 trillion threshold in total capitalization. There are many new REITs in registration under the Jobs Act, and public REITs had record industry index investment returns in 2014. Collectively, these events have raised the profile of a once niche sector—yet public REITs still remain committed to doing things “the way they have been done forever,”  including property management to be managed internally.
  2. REITs can save money by outsourcing property management services. In fact, a REIT with less than 10 million sq. ft. in a given market can realize significant efficiencies with professional, third-party, property management.
  3. Smaller REITs actually lose efficiency—and therefore margin—due to excess capacity at some level, or inability to spread costs across enough sq. ft.
  4. A REIT with externally managed assets has more flexibility to move capital between property types and locations.
  5. The scale of a large, specialized management company makes it possible to spread costs for training and development for a fraction of what similar functions would cost a REIT.
  6. External property-level IT deployment allows a REIT to focus on its investment and portfolio management business, while the external manager maintains the latest in property management technology and software.