Can anyone DISSUADE me from renting in NJ? (apartment complex, rentals)

[andrew&ryansmom]

Here is some quick background info..I lost my job in 2009 while pregnant with my second son and was not able to find work until recently. This caused my husband and I to fall drastically behind on our house so after trying for a shortsale, the bank offered us a deed in lieu, which we accepted. We moved in with my mom in October 2009, and we are beyond ready to get out! lol Anyway, bc of the hit to my husbands credit, lack of savings and my minimal income, we are pretty much resigned to the idea that we will not be able to buy anytime soon bc of all those reasons. So, we are looking into renting a house. We have 2 young children, oldest of which will be starting Kindergarten in September, reason that I want to be set somewhere by then. I cant see a reason why renting would be a bad idea..were not "stuck" there if we need to move again, not responsible for major problems with rental unit, doesnt require large down payment/closing costs. Is there anything I might be missing? And how/where can I find laws about renting in NJ..specifically how much can rent be raised each year, and can we stay in unit for as long as we like, as long as we maintain the house and pay rent on time? Thanks!

[Obrero]

I would suck it up and stay with your Mom for another year and save as much as possible.

[fay111]

You might have a problem renting since I'm sure your credit took a big hit. We rented a house a few years ago and they definitely did a credit check. In fact we were told the woman we were going to rent from had turned down several applicants due to bad credit.

Perhaps you could check with a realtor who handles a lot of rentals and get an idea of where you stand. I've heard that sometimes people will overlook bad credit if there is a reasonable explanation for it and the situation that caused the bad credit is resolved.

Good luck in your search.

[andrew&ryansmom]

The previous house was actually only in my husbands name so I now have great credit, but since I only work very part-time I make little income.
If I have to stay another year I will..but it is not the best for my family or children, for a variety of reasons.

[NY Annie]

NJ laws regarding landlord-tenant are found by googling: NJ Landlord-Tenant law.

[manderly6]

Renting sounds like the best thing for you if you really want/need to be out of your parents place. Even with bad credit you will find someone willing to rent to you. As for the renting laws google NJ tenant laws. Plenty of information.

I don't think you can stay in a rental "for as long as you want". You sign a lease and that is the term. If the LL doesn't want to renew it then you find a new place. Although certainly a LL wants a good tenant to stay long term. The one thing is though if you are looking to rent a house instead of an apartment is if the LL is going to want to either sell the place or move back in at some point. Not really an issue with an apartment complex.