New Jersey Lease Agreement

Crafted by legal connoisseurs and seasoned landlords, TurboTenant’s New Jersey lease agreement stands as a comprehensive document to ensure you remain within the legal confines as you lease your property. Here’s what you need to know about the structure and specifications of this crucial legal framework.

Key Takeaways

1. Personalization: Landlords can add specific details about themselves, tenants, the rental property, and lease terms during the lease creation process with TurboTenant for clarity and thoroughness.

2. Additional Provisions: Landlords can include specific property rules or local clauses for greater customization and to address unique aspects of their property.

3. Lost Key Policy: Tenants are responsible for the costs incurred from rekeying if they do not return all keys.

4. Compliance with Local Law: The lease contains clauses that comply with New Jersey law. Landlords are allowed to make changes using the Advanced Editor but are advised to consult an attorney to ensure compliance.

5. Late Fees: Specifics are provided on when rent is due and the consequences of late payments, including late fees.

6. Security Deposit Provisions: Details on the limit of the security deposit and regulations for any increases, as well as the requirement to provide bank details where the deposit is held.

7. Occupancy Limits and Guests: The lease specifies who can reside on the premises and puts restrictions on guest stays.

8. New Jersey Required Disclosures: Landlords must include disclosures about criminal insurance availability, window guards for child safety, Truth in Renting information for certain units, and if the property is in a flood zone.

9. U.S. Landlord Clauses: Common clauses across U.S lease agreements such as rules on subletting, property alterations, and the requirement for tenants to follow the law and avoid disturbances.

The lease agreement is designed to be clear, thorough, and compliant with local laws, offering landlords the flexibility to customize as needed while also providing tenants with a clear understanding of their responsibilities.

Customized Leases

This section is where you, as a landlord, can personalize the lease with details about you, your tenants, the rental property, and lease specifics. This information is added during the lease creation process with TurboTenant, resulting in a lease that is both clear to understand and thorough. You’ll find a summary table at the beginning of the lease for quick reference, and further stipulations such as policies on smoking, utilities, and key management are elaborated upon.

Important elements of Section 1 include:

• Additional Provisions: This subsection allows landlords to introduce specific property rules or local clauses, offering customization and flexibility.
• Lost Key Policy: Tenants are responsible for the cost of rekeying if they fail to return all keys upon moving out.

New Jersey Law

Section 2 contains clauses that align with New Jersey’s legal regulations, but our Advanced Editor allows changes to be made with full disclosure that any edits may take you out of full compliance with state and/or local law and consultation with an attorney is advised.Key clauses include:

• Late Fees (Section 2.1): Rent is due by 5:00 pm on the 1st of every month. Tenants who fail to pay within 5 business days may incur a late fee of 5% of the unpaid rent amount.
• Security Deposit Provisions (Section 2.4): The security deposit cannot exceed 1.5 times the monthly rent, and any subsequent increases are capped annually. Landlords must provide written notification of the bank holding the deposit, its account type, and current interest rate.
• Occupancy Limits and Guests (Section 2.5): Only tenants and certain occupants may reside on the premises, with restrictions on the duration of guest stays.

• New Jersey required disclosures include:
  • Information on the availability of criminal insurance;
  • Window guards for child safety;
  • Truth in Renting information for premises with 2 or more units
  • Flood Zone

U.S. Landlord Clauses

The final section includes clauses that are generally accepted in most lease agreements across the United States:

• Subletting (Section 3.1): Tenants are prohibited from subletting without the landlord’s written consent.
• Property Alterations (Section 3.2): Any changes to the property must be approved in writing by the landlord.
• Follow the Law (Section 3.14): Tenants must adhere to all applicable laws and avoid causing disturbances.

FAQ

TurboTenant’s New Jersey lease agreement equips landlords with the necessary tools to ensure a legally sound leasing process. With provisions tailored to New Jersey law, best practices for the landlord-tenant relationship, and room for additional provisions, landlords can lease their properties with confidence and legal protection.

New Jersey Resources

• New Jersey Landlord Tenant Law