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Rental Basics in Bayonne : Real Estate Advice

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  • Local Info14
  • Home Buying29
  • Home Selling3
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Activity 7
Thu Jan 9, 2014
mriela answered:
Hello Daniel,

As you continue your seach I am confident that you will find some great locations in Bayonne, NJ. It is a booming town with several great family owned bars and restaurants to offer.

If you would like to take a look at a few of our apatment locations along Broadway in Bayonne please do not hesitate to contact me at info@peninsularental.com or on my leasing cell at 201.832.0156.

Respectfully,
Michael
Peninsula Management
peninsularental.com
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Tue Oct 29, 2013
Diane Glander answered:
If there are leases in place, you have to honor them. You might be able to buy your tenants out of the lease, but legally they do not have to leave if there is a lease in place.
It's hard to tell if what your attorney is telling you is true without a copy of the leases to review.
Have you alerted the tenants that you're purchasing the property? That needs to be done as soon as you are out of attorney review. Certified mail, return receipt.
I have an excellent attorney who specializes in landlord/tenant law. If you would like his name, just reach out to me via trulia or my website below.
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Sun Mar 17, 2013
Lisa Doria-Giammarco answered:
Hi Dwayne,

Patricia brought up some great points, you want to remove your personal items and make sure the apartment is clean. You want to repair any damage to walls where pictures or tv may have been hung or issues caused by moving. Make arrangements for final utility readings and pay final bill. When you vacate the property you want to return all keys including mailbox. You basically want to return the apartment the same when you received it. When asking for a landlord to use your security as your last months rent, you will need to get it in writing from your landlord. Your landlord typically has 30 days to inspect the apartment and give you your security plus interest back less any expenses they had to correct from your move. Remember they must include copies of receipts for those expenses. This is according to the standard New Jersey Lease. Let me know if I can assist you further Dwayne.

Thank,
Lisa

Lisa Doria
Prudential McGeehan & Pineiro RE
888 Broadway
Bayonne NJ 07002
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Sat Nov 19, 2011
Ralph Esposito answered:
Hi!,
To clarify; Buildings that have (5) or more apartments, the City of Bayonne does restrict the amount you are allowed to increase the rent per year. The increase is based on the CPI (Consumer price index) or the FNOI (Fair Net Operating Income Formula.) The date you are allowed to increase the rent is decided by the City of Bayonne (Every building has a different date.) If you choose the CPI formula you are capped at five and one-half (5.5%) percent. Any opportunity to increase the rent is limited by when a person moves into the building. In addition to the CPI conversion a building owner is also allowed to increase the rent based on capital improvements made to the building.

The formula would look like this: CPI/FNOI formula + Capital Improvements formula = Annual Increase

FYI - There was a ordinance amendment on the books in Bayonne that would allow an apartment to become decontrolled forever should a tenant move out. Please confirm with the City of Bayonne that it was passed.

I focus on Bayonne and specialize in rental buildings and rental units, should you have any more questions, I will be happy to answer them.

Ralph Esposito
EXIT On The Hudson Realty
201-220-1106
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Sun Jul 17, 2011
Barbara Tulko answered:
While Jane is correct, under NJ Landlord Tenant regs, a tenant may opt for early termination, however, remains obligated for rent until such time as a new acceptable tenant is found at equal monthly rent...and under those same regulations the Landlord is also obligated to make a fair and honest effort to re rent the apartrment. ... more
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Wed May 25, 2011
Diane Glander answered:
Most landlords will let you out as long as they can find another tenant to take your place. Just ask your landlord. If he/she will not release you, you will have to continue to pay rent to the end of your lease term or the landlord can take you to court for the balance of the rent due. Most will cooperate with you as they don't want someone living there who really doesn't want to be there. ... more
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