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Rental Basics in 07193 : Real Estate Advice

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Activity 1
Tue Apr 10, 2012
Garry Edwards answered:
Fay,
It is my understanding that the landlord can increase your security deposit under certain restrictions. I base this on the following:

"Limit on amount of deposit
The most a landlord can collect as a security deposit is one and one-half times the monthly rent. Cite: N.J.S.A. 46:8-21.2. There are no exceptions to this limit. Sometimes a landlord will try to collect more security money from a tenant at the time the landlord raises the tenant’s rent, in order to have the security keep pace with the rent increase. The law now says that the most additional security money that a landlord can get in any one year is 10 percent of the current deposit. Cite: N.J.S.A. 46:8-21.2."

But your question refers to senior public housing. My suggestion we be to confer with a legal service or attorney to get a definitive answer.

Garry Edwards
Exit Realty Lucky Associates
973 493-0204
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