There is a newer version
of
this Section
2019 New Jersey Revised Statutes
Title 46 - Property
Section 46:8-21.2 - Limitation on amount of deposit
Universal Citation: NJ Rev Stat § 46:8-21.2 (2019)
46:8-21.2. Limitation on amount of deposit
4. An owner or lessee may not require more than a sum equal to 1 1/2 times 1 month's rental according to the terms of contract, lease, or agreement as a security for the use or rental of real property used for dwelling purposes. Whenever an owner or lessee collects from a tenant an additional amount of security deposit, the amount collected annually as additional security shall not be greater than 10 percent of the current security deposit.
L.1971,c.223,s.4; amended 2003, c.188, s.5.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
