Developing a Strategic Plan to Increase Cash Flow for Our New Management Assignments

Cervelli Real Estate & Property Management works with commercial investors and property owners as their sole provider of property management services. In 2023, our team took on a new assignment that required the expertise and finesse of an experienced real estate and property management firm. Learn more about these properties in northeast New Jersey and how we are taking steps to improve their condition and increase cash flow.

About the Properties

Cervelli Real Estate & Property Management was hired by a family that inherited a substantial amount of real estate. As the beneficiaries were not experienced in real estate management, and were suddenly responsible for several large buildings and tenants, they called on us to take over property management of the buildings, with a total of 131 units. The addresses are all in New Jersey:

• 5401 Palisade Ave., West New York
• 8301 4th Ave., North Bergen
• 3509 Hudson Ave., Union City
• 9100 2nd Ave., North Bergen
• 4715 Park Ave., Union City
• 416 38th St., Union City
• 244 Lawton Ave., Cliffside Park

Main Goal: To Increase Cash Flow

Before our clients took over these properties, the portfolio had been mismanaged, and the properties had decreased in value. With 117 apartments, many vacant and riddled with code violations, as well as financial issues, the family turned to Cervelli Real Estate & Property Management due to our personalized, strategic approach. We work with countless property owners to minimize risk and improve cash flow, and we’ve wasted no time with these buildings in West New York, North Bergen, Union City, and Cliffside Park. This area is a stone’s throw away from New York City, nearby public transportation lines, and home to hardworking communities.

As with every new acquisition, Cervelli Real Estate & Property Management takes several steps to begin our property management takeover, including:

• Performing a thorough analysis of the existing properties and their current condition
• Determining key initiatives and areas for improvement
• Increasing quality of life for tenants

This initial phase of the transition enables Cervelli Real Estate & Property Management to focus on generating immediate and long-term cash flow gains. We first intend to stabilize assets by increasing income and reducing expenses. We’ll then produce a budget and a plan for improving the condition of the properties, as well as tenant retention.

24/7 Property Management Services

Cervelli Real Estate & Property Management offers an extensive list of services for clients who choose us as their Exclusive Management Agency. No two properties are the same, so we tailor every management plan around the specific needs of the client. Advantages property owners can benefit from include:

• Around-the-clock emergency support
• Liaison services for compliance, efficiency, and transparency needs
• Monthly financial report with:
  • Accounts payable and receivable information
  • Copies of all checks
  • Reconciled bank statements
• Monthly property inspections with digital reports
• Real-time login for online services such as:
  • Filling out forms
  • Making payments
  • Managing accounts payable and receivable
  • Submitting work orders
  • Viewing open work orders
• Vendor network of reputable providers for jobs outside our scope

Find out more about the client experience we provide by browsing our client testimonials.

Schedule a Consultation With Cervelli Real Estate & Property Management

With headquarters in North Bergen, NJ, Cervelli Real Estate & Property Management was founded in 1983 and proudly serves clients throughout northeast New Jersey, including Bergen, Essex, Hudson, Passaic, and Union counties. Working with private owners, nonprofit organizations, family offices, and other clients, we manage more than 80 properties as an Exclusive Management Agent. Our team ensures clients have access to personalized solutions and exemplary customer service, which larger-franchise firms cannot always promise.

As one of the state’s most experienced specialists in commercial investment real estate and property management, Cervelli Real Estate & Property Management is standing by to navigate you through your options. To learn more, contact us today.