Great Apartment but the building is in "Receivership".

Asked by christina.lawrence01, East Orange, NJ Sat Oct 6, 2012

I am apartment hunting in East Orange. I found a great place but the building is in receivership. Should I run the other way?

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Paul E. Washington’s answer
Paul E. Wash…, Agent, Livingston, NJ
Mon Oct 8, 2012
Christina! Apartment buildings in receivership are unpredictable. There are no guarantee regarding building conditon and quality of future ownership. Your sole means of communication will be random and most likely be either an off-site Rent Receiver or Property Manager, it most cases they are one in the same. East Orange has many apartment buildings to chose from for adequate renting. Keep your options open for other availability is recommended.
0 votes
Thanks Paul. I have a FULL-TIME schedule (i.e., work and go to school--FULL TIME). I do not want incorporate hunting down a landlord, as part of the full-time list.
Flag Tue Oct 9, 2012
Andrew Tisel…, Agent, Clifton, NJ
Sat Oct 6, 2012
I wouldn't worry about that I do not think the city would throw tenants out. if the city took over the building they would sell it with tenants. The only issue is that if you do have any building issues like water, electric. heat there may not be a landlord around to fix things unless the building has a management company or super.
0 votes
Andrew, there is a management company for the building (and a super on the premises).

Because of my concern, I want to hold back my deposit and do a month-to-month lease. At the end of the year, if all goes well, I will sign a new lease (with a deposit). I want to make sure that things will be fixed, basics (like water and heat) will be provided.

Thanks for giving me the upside to this!!
Flag Mon Oct 8, 2012
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