| PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 46, PROPERTY
Chapter 8: Attornments by tenant to strangers to title; effect
Section: 46:8-21.2: Limitation on amount of deposit
4. An owner or lessee may not require more than a sum equal to 1 1/2 times 1 month's rental according to the terms of contract, lease, or agreement as a security for the use or rental of real property used for dwelling purposes. Whenever an owner or lessee collects from a tenant an additional amount of security deposit, the amount collected annually as additional security shall not be greater than 10 percent of the current security deposit.
L.1971,c.223,s.4; amended 2003, c.188, s.5.
This section added to the Rutgers Database: 2012-09-26 13:37:54.
Older versions of 46:8-21.2 (if available):
Court decisions that cite this statute:
CLICK HERE.