Landlord withdrawing money from security account before I moved out (apartment, how much)

[funnyman259]

I just moved out of my apartment July 31. I lived in an owner occupied two family house in NJ. I noticed that my landlord withdrew some money from the security account a week before I moved out. Is he allowed to do that?

[smommaof3]

Did you get the whole amount back? How do you know he did this?

[daliowa]

Originally Posted by funnyman259

I just moved out of my apartment July 31. I lived in an owner occupied two family house in NJ. I noticed that my landlord withdrew some money from the security account a week before I moved out. Is he allowed to do that?

You have to get your entire security deposit back (plus interest) unless the landlord found damage to the apartment at the final walk through. If so, he has to document the damage & the repairs needed, how much the repairs cost, including invoices. There can be other reasons allowed for not returning the full deposit, see details of the law in NJ at:

SECURITY DEPOSIT LAW N.J.S.A. 46:8-19 THROUGH 26
http://www.nj.gov/dca/divisions/code...depsit_law.pdf

[Kthnry]

Note that interest on a landlord/tenant account at BOA is 0.05%. So don't expect much.

[daliowa]

Originally Posted by Kthnry

Note that interest on a landlord/tenant account at BOA is 0.05%. So don't expect much.

True, but OP didn't say how long he lived there. Maybe he's been living there for 20 years?

[smommaof3]

Originally Posted by daliowa

True, but OP didn't say how long he lived there. Maybe he's been living there for 20 years?

It's a whooping 1%.

[RobRiguez]

As long as the landlord returned your money, who cares if they took it out early or not.