3 landlord questions in NJ

[John Palatzo]

Hi folks,

Just curious if anyone can answer these 3 questions about renting a house in New Jersey.  I’m still kind of new to being a landlord and I want to make sure I'm "following the right laws", etc.

1. I currently have a security deposit from my tenants, which is 1.5 month's rent. From what I've read, that's the maximum you're allowed to have for a security deposit in NJ. Now the tenant will be bringing in a dog and I'm trying to figure out the best path forward. I've heard of a "pet deposit" where the landlord collects a little more money in case the dog damages something. I've also heard where people collect extra money each month for the same reason. I've also read that no matter what you call the money you collect, you can't collect more than 1.5 month's rent. Regardless if you call it a “security deposit”, “pet deposit”, etc. When you combine them all together, it can't go higher than 1.5 month's rent. What's strange to me is that even if I were to ask for $200, that doesn't seem like it would cover much if the dog did something like barf on the carpet. Looking for suggestions here.

2. The second question deals with when I'm supposed to ask the tenant if they're going to stay for another term, and when they have to let me know by. I was using 60 days and 30 days from the anniversary date, respectively. Is there something in NJ law that dictates these dates?

3. Going back to the security deposit, let's say the tenant stays for 3 years. Am I just supposed to let the interest accrue over those 3 years and don't touch it? Or does the law saw that I'm supposed to give them the interest each anniversary?

Any references to the actual NJ law would be awesome!

Thanks so much!

[Christopher Gerena]

In the area that I work in, Hudson County, most landlords will charge a non-refundable pet fee (one time only) up front, it can vary from 250-500, and/or additional rent because of the pet. But the "security deposit" cannot be more than 1.5 months rent.