Rentals in 08757>Question Details

Marie, Renter in Whiting, NJ

Can a landlord ask a potential renter to pay 1st..last and security B4 renting...I though the law was clear and 11/2months security and 1w month rent.

Asked by Marie, Whiting, NJ Sun Oct 14, 2012

0 votes Share Flag Rentals in 08757

Help the community by answering this question:

Answers

6
You are correct. A landlord can ask for first month's rent and a security deposit of 1.5X the monthly rent max. Attached is the latest truth in lending booklet from the NJ Real Estate Commission. A lot of people also believe you can charge an additional deposit fee for pets, also inaccurate, the deposit can not exceed 1.5X the base rent.
1 vote Thank Flag Link Sun Oct 14, 2012
PS

just to clarify - you asked if the landlord can get 1st and last month's rent AND security...........actually, yes, he can...........BUT, in that case, the amount deemed as "security" can't be more than 1/2 month rent.

The grand total of advance payments/deposits (not counting the 1st month rent) can't exceed 1.5x rent..........but it can be divided up in different ways.
0 votes Thank Flag Link Sun Oct 14, 2012
Hi Marie

Just to chime in and reiterate - you are correct...........in NJ, a landlord is only allowed to collect, at most, 1.5 month's rent in advance as a security deposit, or whatever they want to call it.............they may also get the 1st month rent in addition to that, but no other prepaid rent , pet security..... or any other kind of advanced payment is allowed if it equals more than 1.5 month's rent.

It always disappoints me when I talk to agents who don't know these laws, and many don't......

Best wishes.......
0 votes Thank Flag Link Sun Oct 14, 2012
we are talking about a residential property?

is there a realtor involved?

If it is a residential property you are correct.

I have seen cases where the tenant wants to pay rent in advance to secure the property because of a credit issue.
0 votes Thank Flag Link Sun Oct 14, 2012
The law is very clear. 1st months rent and security can not exceed 1 1/2 months rent. Copy and Paste the link below and it will give you a PDF file of the newest truth and renting guidelines. I hope this helps. http://www.state.nj.us/dca/divisions/codes/publications/pdf_…
0 votes Thank Flag Link Sun Oct 14, 2012
the security can't be more than 1.5 month's rent.......landlord can, however, also collect the 1st month's rent in advance
Flag Sun Oct 14, 2012
The total(1st month + deposit + last month, if any) cannot exceed 2 1/2 monthly rent, no matter how it structured
0 votes Thank Flag Link Sun Oct 14, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer