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Updated almost 5 years ago on . Most recent reply

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Jesse M.
  • NJ, NJ
88
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63
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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!!???

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,745
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43,154
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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  !

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JLH Capital Partners

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