Legal Question in Real Estate Law in New Jersey
Using deposit as last month's rent.
I was never notified regarding my intital security deposit and where it is being held. Can I use my security deposit as my last month's rent?
1 Answer from Attorneys
Re: Using deposit as last month's rent.
By law you are required to be given the information on your security deposit, so make a written request for the information from your landlord, including (if this is a residential lease) what interest you are getting on the account. Security and rent are mutually exclusive, so you cannot use your security to pay rent, unless the landlord consents (egt it in writing). The landlord must return all security and interest, less any resonable costs of correcting damage (for which he must give you an accounting), within 30 days of the lease termination.