Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

63
Posts
88
Votes
Jesse M.
  • NJ, NJ
88
Votes |
63
Posts

NJ Gov letting tenants decide to use security deposit to pay rent

Jesse M.
  • NJ, NJ
Posted

Erosion of rights continues in NJ....governor just signed an order allowing tenants to elect to use security deposit to pay rent. Yet again changing private contracts.  Wish an attorney or organization would step up and stand up to this madness.

Not clear if month to month tenants have to replenish it later, seems to indicate lease has to be renewed or extended to require it to be replenished.

Maybe tapping security deposits isnt a terrible thing but this is a private contract between landlord and tenant and the governor shouldnt be able to force this on landlords.  It should be a mutual agreement between landlord and tenant.   Constitutional rights being violated all over this crazy state....when will someone stand up to it!!???

Most Popular Reply

User Stats

42,736
Posts
62,955
Votes
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
62,955
Votes |
42,736
Posts
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Originally posted by @Nathan Gesner:

The world is on its head. I honestly don't understand the ridiculous decision people are making based on fear, not facts. All you can really do is ride it out and hope for the best.

Nathan Just curious but in many states I was under the impression that security deposit does not belong to the land lord and its the tenants.

And your not suppose to be able to use Security deposit to pay rent at least unilaterally from the landlords side of the table.. whats it like in your jurisdiction..  And I see on the Covid heat map your state has done really well in the pandemic..  maybe that's a lack of population and the natural distancing that occurs in Gods country  !

business profile image
JLH Capital Partners

Loading replies...