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Updated about 6 years ago on . Most recent reply

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59
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Adam F.
  • Rental Property Investor
  • New Jersey
11
Votes |
59
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Best way to protect myself against a lease break in NJ

Adam F.
  • Rental Property Investor
  • New Jersey
Posted

I'm wondering the best way to protect myself against a tenant breaking a lease early in NJ. It is hard to fill a vacancy in the off-season.

Either I can add an Early Termination Fee to the lease, or add nothing and just rely on the law which I believe requires the tenant to pay the remainder of the term until the unit is re-rented. However, I've read that usually requires suing the tenant which I want to avoid. 

Most Popular Reply

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1,369
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Patrick M.
  • Rental Property Investor
  • Red Bank, NJ
1,763
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1,369
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Patrick M.
  • Rental Property Investor
  • Red Bank, NJ
Replied

First, let me say you must, absolutely must, embrace the court system! That is your stick- do not ever be hesitant to go in to court, but always, always be prepared.

Month to month in NJ is giving a tenant carte blanche. With the NJ anti eviction statute they hold all the cards and can drop you with a 30 day notice. Landlords Are committed for life.

A 1 year lease provides you the ability to fill the vacancy at their expense. Otherwise they cut out in November, lawfully and you are stuck holding the bag in the toughest months. No increase will cover that.

Add to that the very real possibility that he may feel eviction proof  if he is buying a home.

1 year lease. 1 1/2 months security deposit and if he buys a house you have something to attach a lein  to!

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