A New Jersey standard lease agreement outlines the rights and obligations of landlords and tenants in a rental property. It typically includes details such as lease length, rent amount, security deposits, fees, utilities, and termination options.
The lease may also contain other terms specific to the rental unit. Both parties must sign the document to make it legally binding.
Considerations on Lease Length
- Residential leases in New Jersey have no term limitations, but those exceeding three years must be in writing. (N.J.S.A. 25:1-12)
- Leases that are not in writing and are only spoken are usually not considered valid if they last for more than a year.
Security Deposit
- Maximum Amount ($): One and a half months’ rent (§ 46:8-21.2)
- Returning to Tenant: Within 30 days (§ 46:8-21.1)
Rent Grace Period
There is a 5-day rent grace period to pay the rent if it is due on the first of the month as per the lease agreement. (§ 2A:42-6.1, 2A:42-6.3)
Landlord Resources
- Landlord-Tenant Laws – Title 46 (Property)
- Handbook – Tenants’ Rights in New Jersey
