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At Realty Solutions LLC, we treat your home as if it was our own. By using our comprehensive approach to managing your investment, you will have the highest level of service for your property. All tenant and maintenance related issues are handled in-house; from marketing to acquisition through move-out and, if needed, eviction services.

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Frequently Asked Questions

Q: Is there a repair service/administration fee for work performed?
A:We do NOT mark up any service charged by vendors. We have a strong list of vendors that get a tremendous amount of work from us; they are loyal, provide good quality work in a timely manner and have very competitive pricing. This cost savings is passed onto our owners.

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Security Deposit Bulletin+

Tenant Security Deposits

One of our primary jobs, as your property manager is to work with tenants as they move from your premises. This usually requires us to deal with interest bearing security deposits. For your information, we are attaching a copy of the Security Deposit Bulletin issued by the New Jersey Department of Community Affairs, which outlines the laws pertaining to security deposits and how they are to be handled.

Almost all security deposit issues are handled in-house seamlessly by your property manager. Where necessary, we deduct reasonable amounts to cover damages or back rent (and/or utilities owed) and it is rare that we have any issues with any former tenants. On occasion, we do receive complaints from tenants who believe that we have wrongfully withheld sums from their security deposit. Most of the time those complaints are handled easily through personal discussions. However, some tenants file a law suit against their former landlords as well as our company, as the property manager, threatening wrongful withholding of all or part of their security deposit. We then attempt a negotiation directly with you and the tenant to come to a solution.

After reading the attached document, you will see that in cases where a law suit is filed, the issue becomes a “high risk” gamble for the owner with almost no risk to the tenant. The reason for this is that if the owner wins, he/she is able to retain the amount initially withheld but is still responsible for legal fees to his/her own lawyer. The tenant, on the other hand, can lose, and not have to pay any further amount to the landlord. If he/she sues without a lawyer, there is only the loss of time to the tenant. The upside for the tenant, however, is that if successful, he/she obtains double the amount of the claim and, if a lawyer is retained, possibly the award of counsel fees. Under these circumstances, this becomes a difficult game for the owner to win.

With that in mind, we wanted to share our company’s policy as to the manner in which we handle security deposits at the conclusion of the lease of any tenant:

Upon tenant vacating premises, we will analyze how much, if any, should be withheld from the security deposit. Immediate contact will then be made to the tenant, advising how much is to be held out and an attempt will be made to have the tenant sign a release, thereby resolving the issue.

  1. If the tenant disputes the issue, we will enter into reasonable negotiations with the tenant and attempt to obtain an amicable settlement. If we do, we will obtain a release from the tenant and the matter will have been resolved by our legal department.
  2. If the tenant continues the dispute, after consultation with the owner, and upon agreement for the owner, we will return the disputed amount to the tenant.
  3. If the tenant continues the dispute, after consultation with the owner, and if the owner does not agree, at the option of the owner, we will advise the tenant that the disputed amount has been returned to the owner and any further contacts concerning the disputed amount should be directed to the owner. In that case, we will request that the owner sign an indemnification agreement confirming that if the tenant includes Realty Solutions in any law suit, and is successful, that the owner will pay in full any amount found to be due and owing to the tenant with no obligation on the part of Realty Solutions.

In the case of #3 above, the owner will take full responsibility for the claim. We have found that this is the best business decision because the amounts in controversy are generally relatively small. The cost of internal administration and obtaining a lawyer for this type of action usually exceeds the amount contested. In this unique and rare situation, giving back the amount contested, in our opinion, is the “cost of doing business” as a property owner. If you have any questions concerning this policy, please feel free to discuss this with us.

Areas We Service - Salem, Gloucester, Camden and Burlington Counties

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REALTY SOLUTIONS LLC
Audubon Professional Center - Suite #2
415 S. White Horse Pike
Audubon, NJ 08106

Toll-Free: 1-855-547-4700
Fax: 1-855-347-1257

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