It makes a LOT of sense, especially if you are the landlord! The "two months security" are actually the last month's rent and one month security. Let's just say your tenant hasn't kept up his place that well, and knows he's not getting his security back. He may also choose to skip out on his last month's rent saying, "well, he has my security payment and I'm not getting it back, so he can just use it for my last month's rent". Now the landlord is out the last month's rent, plus the damages to the unit. So collecting the full amount he is entitled to collect under the tenant-landlord law only limits his losses. He still has to repair the unit, shampoo and paint as needed, and has a vacant apartment while this work is being done. All the while, he must maintain his own mortgage payment on the building.... more
Generally landlords must be comfortable with a prospective tenants ability to pay the rent each month for the term of the lease. A great rule of thumb is 1 month rent should equal 1 week gross salary. A landlord can only determine ones ability to pay by tenants legal source of income. If employed, a prospective tenant can have ready a verification of employment or a person in the company whom a landlord or agent can contact to verify income. If income is from social security or a trust fund or other similar type of resource the proper award letter should accompany an application. Having this inforation available should help a prospective landlord make an imformed decision.
If you do need to move I would also suggest (in addition to a letter from your landlord) when submitting your application include a Letter of Explanation regarding your credit report. If you can show that you are employed and are capable of making the monthly rental payments some landlords are understanding. Best of Luck!... more
Really the only people qualified to answer your questions are your local building inspector and/or a lawyer. I know in New Jersey standards can be different for owner occupied multi family homes and apartment buildings and inspections may or may not be required depending on the circumstances. You may also be able to get some free advice from your state Department of Community Affairs.
How long have you lived in the apartment? If you are concerned about your safety, why did you take the apartment? And why don't you move? If it is unsafe I am sure the lease can be broken. I will also offer a word of caution, don't use this as an excuse to stop paying the rent until you know exactly what your rights are under the law. You could end up in more trouble than you are in right now.... more
Are you asking about interest owed to you on a rental deposit? If so, I think the law allows 1% interest per year with the exception of any months you were late with your payment (after the 5th of the month). No interest is owed for those months. To be sure, you can check on the state Dept of Consumer Protection web site.... more