Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
2 weeks ago I made a verbal agreement to rent my NJ condo. The prospective tenant gave me a $3K check as a deposit at that time (1 month + security deposit) to hold the condo. Yesterday when it came time to give her the keys and sign the lease, she backed out. Now I have an empty condo and am incurring expenses. Do I have any legal recourse to keep a portion of the deposit to pay for my expenses? Thank you!
I personally do no know if you have legal recourse at this point but in the future when you accept a deposit to hold your condo you should make it clear that a portion of that deposit in non refundable if they should decide to back out at the last minute after a certain amount of time.
NJ is definitely more geared towards benefiting the tennant than the Landlord. You need to contact a lawyer to see if you have any recourse. Most will provide 1 free consult, so you can get your answer without paying. From now on, you need to make any agreements in writing, and have them sign a lease up front as well as get the deposit check before you reserve the condo for them. Otherwise, keep advertising the condo. It's not off the market until you get a signed lease and a check.
Deposits are not legal or binding in new jersey.
I doubt the check is good anyway but if they ask for it give it back.
A lease is the only binding document it protects both you and them.
I have been a landlord for 20 years. Have people fill out your application, completely, all the info you will need to bring them to court, work, job, bank, ss#, current landlord and the one before him. 2nd one back is the only one you can really trust if he wants them out he will lie to you.
Get a credit report. If they will not comply move on. collect 1 month rent and 1.5 month sec. NO LESS
only accept cash or certified check first time, some people keep looking.
Put the sec in an account with in 30days and then notify them with in 30 day where it is. Have them sign a document.
rent asap, lower your price 100.00 bucks, ads are expensive.
Get your certificate of occupancy if the town requires don't screw around.
As others have stated this is a tenant favored state. you can only protect yourself by doing everything by the book and be tough, it su_ks, but again you have to protect yourself.
FYI late fees will not be honored by a judge so have your lease state "rent then becomes" 1600.00 for that month.
Go to court one day sit there and watch and listen.
be very careful with sec-8. You can not turn down sect people, but you don't have to sign the contract with the state. Oh yeah you can ask a sec-8 person for a credit report but you can not turn them down for bad credit.
If the prospect is young ask if their parents will cosign and then get all the info on the cosigner.
Thanks Mike! I'm in Montclair. After holding the check for nearly 2 weeks I deposited it last Thursday (feeling confident that we had a deal) and it cleared. 2 days later on Saturday, when she was to pick up the keys and give me the signed lease, she didn't show up. She left a message saying that she changed her mind. So now I have an empty condo. She called and emailed me on Saturday asking for her deposit back. I emailed her requesting her address but she hasn't replied. I haven't heard from her in 4 days now. I'm so upset that I don't want to talk to her on the phone, but I want to do the right thing and give her the deposit back if that's what I'm legally bound to do. I guess I'll have to call her? Can I get "in trouble" for holding/cashing her check?
Thanks so much for your advice!
No you can't get into any trouble, just make sure the check cleared all the way through to the other bank. There is a scam going on where people are depositing checks that don't complete the process bank - to bank. and then your bank take the money back. contact your bank now and verify they received their money.
Then give it back. Create a document for her to sign, two copies, each with both signatures.
Save all the emails, no more verbal anything... Protect protect, god forbid she drags you into court, she may believe they deserve 6x the amount.
Work on renting, put it in the star ledger, for 160.00 (give me a frigin break), call the rental network and list for free, list on craigslist.
Have a phone script pre-written so you know what to ask and perform a preliminary phone interview. Your time is valuable.
This is what I do
I will ask the total number of adults, children, any pets, what do they do for a living, how much do they make,
Then I try to start interviews around the same time EG start at 6:00 and then every 10- 15 min, people may stand you up. Don't call anyone and don't chase.
Then at the property again I ask my questions, your interviewing them and they are interviewing you. If you accept pets ask them to bring it. a tiny dog can be a pit bull, or what ever.
I ask them to take the application and fax back. I send them to the rental network for the credit report, let them pay 25.00 bucks and have the rental network fax to you directly.
Verify/call
job, banks, landlords,
If you get to the signing, verify their drivers license and social security.
BTW if you evict and sue for losses NJ will not process /server paper to any other state. So if they work in NY, how do you collect...
It is better to go empty then have the wrong person in.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
