I am an overseas buyer, looking for a single family home in Cranford, price range of under 500k, with 4 bedrooms and decent size yard.

Asked by Kieran Gartlan, Chicago, IL Mon Jun 17, 2013

- Must be in a no-flood zone, with no previous water damage
- I plan on renting the property for a few years before eventually moving in, so must be in an area that has good rental demand.
- would prefer a realtor than can also administer the property during the rental period. What is the estimated cost for this?
- what does house insurance typically cost and what does it cover?
- do houses typically sell furnished, or unfurnished?

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Answers

5
Robin Azcarr…, Agent, Westfield, NJ
Fri Jan 3, 2014
I also handle Cranford and work in neighboring Westfield and I am happy to help you as well.

Robin Azcarraga
Prudential New Jersey Properties
908-305-7808
0 votes
venisota, Home Owner, Cranford, NJ
Tue Nov 26, 2013
Keiran,
Please check out home for sale-- http://www.106lincolnavee.com This would certainly fit your requirements..
0 votes
Ronald Sheedy, Agent, Clark, NJ
Mon Jun 17, 2013
Kieran,

The typical property management fee is 10% of the annual rent for a Broker to manage the property. You will need to purchase homeowners insurance on the property and insure its contents. The current rental prices in Cranford range from $1,750 to $2,250 depending on the size of the property.

I service the Cranford area and have extensive experience in managing property. I served as the Controller / CFO for a property management company that managed over 4500 units.

If I can be of any assistance, please don't hesitate to contact me at your convenience.

Ron Sheedy
(732) 239-7452
0 votes
Lorena Barbo…, Agent, Westfield, NJ
Mon Jun 17, 2013
Hello Kieran,
Rentals are in high demand in Cranford and many of the surrounding towns since there is mass transit to NYC, good schools and a great downtown. Rental management can be negotiated but generally can run 10-15% of the annual rent total. You would have to cover your house insurance which would cover you against many disasters, such as fire, but you can require tenants have their own rental insurance. Homes are sold mainly unfurnished. Let me know if you need help in your search - I am available to assist!
Best to you,
Lorena Barbosa
Broker/Owner
David Realty Group
530 South Ave. W
Westfield, NJ 07090
201-638-6528
0 votes
James Rembish, Agent, Summit, NJ
Mon Jun 17, 2013
Kieran-
Thank you for reach out to the community of REALTOR® for guidance.
Your questions are very important when investing in Real Estate as an investor/absentee owner.
The property management fee is typically 10% of the annual rent for a Broker to monitor and manage the property. Homeowners insurance will be based on the sale price and also to insure the contents. Estimates vary from $1800- $2200 per year.
As rental property it is important to require the the tenant to cover rental insurance; ie liabilty and to insure their contents. In most cases case homes tend to be sold vacant in Cranford. There may be certain instances when furniture may be for sale or negotiated in the purchase.
Hoping I was able to shed the light on some of your concerns. Feel free to reach me directly with any further questions so I may begin to find you the place to call home.
My contact information is listed below.

Regards,
James Rembish
Broker-Associate
RE/MAX Achievers
jamesrembish@remax.net
http://www.summitareahomes.com
(908) 462-4802
0 votes
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