Security Dep. Deduction - Do I have to wait till they move out?

[Maureen Campbell]

Good morning BPers,

I am a relative newbie here, having bought my first duplex in New Jersey this past January. Our upstairs tenant put some holes in the wall when moving some furniture and we are trying to figure out how to handle repairs. The holes are large enough that we will likely hire a professional to fix them. Can I deduct the cost of repairs from his security deposit now or do I need to wait until he moves out? He has lived in the unit for 10 years and we don't anticipate him leaving anytime soon. I don't really want there to be holes in the walls the next few years until he decides to move out, but I am not crazy about the idea of paying for them out of pocket either.

He has several friends in the area that are contractors, but having worked with them, most provide pretty shoddy work - so I don't want him to hire someone himself to do the work.

Any advice would be greatly appreciated.

Thanks,

Maureen