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New Jersey Lease Agreement

new jersey residential lease agreement form
New Jersey Residential Lease Agreement
TurboTenant's New Jersey lease agreement, crafted by local attorneys and property owners, ensures legal compliance and full protection for landlords.

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.

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.

Compliance with 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

General 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.
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FAQ

Can I include additional terms specific to my property in the lease agreement?

Yes, through the Additional Provisions section of Section 1 or through our Advanced Editor feature, landlords can add terms specific to their property. It is recommended to review these with a lawyer.

What happens if a tenant does not return their keys?

If tenants fail to return their keys, they must cover the full cost of rekeying the property.

What is the allowed late fee in New Jersey?

Landlords can charge a late fee of 5% of the unpaid rent amount if payment is not made within 5 business days after it’s due.

Are there any restrictions on security deposits in New Jersey?

Yes, the security deposit cannot exceed 1.5 times the monthly rent, and increases are limited to 10% of the current deposit annually. Security deposits must be placed in a separate account earning interest.

What are the requirements for disclosing flood zone information?

If the property is located in a flood zone, this must be disclosed to the tenant during the lease creation process.

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.

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