All Forum Posts by: Sol G.

Hi all, I'd like to know if anyone here has experience with the rent control laws in North Bergen, New Jersey. How many units are subject to rent control?

Thanks Scott Weaner !

Hi everyone, We purchased a property in New Jersey a few months ago, with the rents very below market. Now we're ready to raise the rent, and my question is, how much is it fair to raise at once? We're not going to raise it to the market value in one shot. So I'd like to hear the advice from he experienced guys over here. Thanks in advance

Douglas Krofcheck , we charged one month's rent (which turns into part of the security deposit when they move in) as a deposit to hold the property, and before they move in they need to pay the rest of the security deposit, [which is another half month], plus the rent for the first month. So, in total they were asked 1 month's rent, + 1 1/2 month's rent for the security deposit (which is the legal amount in NJ).

Bettina F. We sent them a letter stating all funds they'll need. Looks like some people don't bother going over on what they sign.

Thank You &Kyle J. @Kim Meredith Hampton, @Jeff Gates, @Patrick Liska, @Andrew Jenkins Jr., @Andrew Severino, @James Leake, @Steve Vaughan, @John Thedford, @Amy Beth, @Ryan Sullivan for your time and input, I greatly appreciate it.

Thank You Kyle J. Kim Meredith Hampton Jeff Gates Patrick Liska Andrew Jenkins Jr. Andrew Severino James Leake Steve Vaughan John Thedford Amy Beth Ryan Sullivan for your time and input, I greatly appreciate it.

@James Leake yes we did a screening and there was no eviction or criminal record.

Steve Vaughan your point is really important. Thanks loads!

if I give back their deposit I lose another month rent