As New Jersey residents head into retirement and look to downsize their home, many of them are deciding to rent their home rather than sell. As New Jersey’s premier property management company, C.A.B. Group, LLC has been helping many retirees make the transition from homeowner to landlord. With the real estate market in New Jersey trending upward, it is smart for property owners to hold onto their investment and rent, rather than sell at a lower price now.
Recently, one of our newly retired clients who has made the decision to hold onto their home and rent it to tenants rather than sell now, talked to us about why she and her husband made this decision. “My husband and I recently retired, and although we wanted to sell our home and move into our out-of-state vacation home, our accountant advised us that it would be more beneficial for us to rent our home rather than sell it.” With no experience being a landlord, they knew immediately that it would be imperative for them to find an experienced property management company to help them with this endeavor. Their accountant has clients who have made the same decision and who use the C.A.B. Group to manage their rental properties and decided to give us a call. C.A.B. Group quickly found them a quality tenant and we’ve been managing their property throughout the lease.
The biggest worry for retirees who decide to become landlords and rent their NJ home while they head to warmer and less expensive zip codes is the hassle of owning a rental property. For retirees looking to enjoy their retirement with as little stress as possible, becoming a landlord without hiring a professional full-service property management company can be a nightmare. When retirees decide to rent their NJ home and head off to enjoy their retirement out of state, this responsibility often falls on their adult children who still live in state. This can create resentment as those managing the rental property are unfairly burdened with the responsibilities and challenges of becoming a landlord on your own.
C.A.B. Group, LLC is happy to help New Jersey’s retirees make the transition from residing in their home, to renting it as an investment property. We understand the uncertainty involved in making such a decision and are here to walk you through the process and handle all the hassles for you so that you can enjoy your retirement worry free.