NJ has a large number of renters. Therefore, awareness of NJ rental Property laws in 2024 is essential to ensure a safe tenant-landlord relationship. Both parties should know their rights and responsibilities in NJ law to avoid legal disputes, as ignorance is the main reason for major legal disputes.
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What Are The 6 Basic NJ Rental Property Laws?
We have gathered the basic rental property laws that tenants and landlords must acknowledge. By reading the article, both will identify their roles and be able to live smoothly in New Jersey.
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Here are the basic NJ rental property laws in 2024 that you should know:
- Rental Amount
NJ rental property law sticks to the rule that the landlord will be the one to decide the rent amount for his property. He can determine the rent for his property.
There are no rules of how much the rent should be.
- Rent Control in New Jersey
Although the landlord has the primary say in deciding rent, local jurisdictions can impose rent control policies in their areas to maintain the rent limits.
The tenant should check with his housing authority to see if his area has a rent control policy so he can avoid being overcharged for rent.
- Grace Periods
To favour senior citizens, the parties can include an exceptional condition, named a grace period, where they will not be fined for delayed rent for a week after the rent date.
- Laws For Eviction Of A Tenant
The landlord has the authority to send an eviction notice despite the agreement to the tenant due to his delayed or nonpayment of rent, inappropriate behaviour, or involvement in illegal activities.
- Law for Security Deposit
If the tenants fail to pay their dues on time or pay for significant property damage, the landlord can hold the security deposit for 30 days.
The landlord in New Jersey will list damages compensated from the security deposit. The tenant must leave within 30 days.
- Increase In Rent
Rent control policies can also increase rent. Still, tenants are supposed to be informed through the landlord’s 30-day prior notice before increasing rent.
Conclusion
There are clearly designed NJ rental property laws in 2024. However, they might be slightly altered by making exceptions in the lease clauses by both the landlord and followed since rental property laws in New Jersey allow this to be done by remaining in the limits of the laws.
Moreover, it is important to know the exceptions made for your area since laws can slightly vary from one municipality to another depending upon factors, such as independent laws of different local jurisdictions.
