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

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6
Ronald Shaff…, Agent, Toms River, NJ
Sun Oct 14, 2012
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
Debra (Debbi…, Agent, Livingston, NJ
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
Debra (Debbi…, Agent, Livingston, NJ
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
Andrew Tisel…, Agent, clifton, NJ
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
Leigh Anne S…, Agent, Toms River, NJ
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
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
Alex Kushnir, Agent, Monmouth, IL
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
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