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Updated over 6 years ago on . Most recent reply

User Stats

16
Posts
3
Votes
Thien Luu
  • New to Real Estate
  • Jersey City, NJ
3
Votes |
16
Posts

Legal to accept only Online rent payment in NJ?

Thien Luu
  • New to Real Estate
  • Jersey City, NJ
Posted

Good day everyone,

My tenant gave me notice that they'll move out soon.

For my next tenant I am using COZY for my rental services.

Can I accept only online rent payments in New Jersey?

I'm planning to only accept bank checks or money order for the deposit.

Rent payment on accepted online through COZY.

Most Popular Reply

User Stats

120
Posts
58
Votes
Jonathan Herron
  • Attorney
  • New Jersey
58
Votes |
120
Posts
Jonathan Herron
  • Attorney
  • New Jersey
Replied

@Thien Luu off the top of my head I cannot think of a reason it would be illegal.  The two considerations I would advise is:

  1. Does Cozzy charge a fee to the tenant when making the payment?  If so requiring them to use the system could be construed as extra rent.
  2. Some people like using non-online payments.
  3. Providing some form of a receipt for rent payments is generally a good business decision and if Cozzy does that it shouldn't be a problem.

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