Just for future information, in case it ever comes up:
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: NJSA 46:8-21.2. There are no exceptions to this limit.
Notice of security deposit
The Rent Security Deposit Act requires the landlord to put your security deposit in a separate bank account that pays interest. The landlord must tell you in writing the name and address of the bank where the deposit is being kept, and the amount of the deposit. The law also states that if the landlord does not give you this written notice within 30 days after you pay the security deposit, the landlord loses the right to hold the security deposit.
I wish I knew this stuff several months ago. Now I do.
Hey, I knew this stuff! Did someone overcollect from you? I can’t even imagine having the cajones to ask for more than a month and a half. Are you at least getting your deposit back? I’m not clear on the rule on this yet, but I think they have 45 days to return your deposit to you after you move out.
I’m just beginning my own stint as a landlord in Hamilton September 1st, and I’m doing the escrow account and everything. The township really tortures landlords, though, making us get a new C.O. inspection every time a new person becomes tenant and charging us a cool hundred for the privilege of jumping through their hoops.
This is my second inspection in 2 months and I haven’t even officially rented the place yet. They’re making out like bandits. There should be laws protecting we landlords from *them*!
Robin, I had a bad experience with a former roommate/landlord. Hopefully this will be all over on Thursday.
Spike – I think the important thing to do is to bring a copy of those laws with you on Thursday. Just in case she tries to argue with you again, you can show her that legally she has no ground to stand on. It might piss her off but at least you’ll have proved your point and she will *have* to give you the money. She might try to talk the fancy talk but she can’t talk her way out of something that is a documented law. Maybe you should bring Ward with you…or Johnnie…
AH! A SPECTRE!
A spectre? Huh?
Yeah, M-D… Huh?