State Specific Question About: NEW JERSEY (NJ)

Sorry, did not finish The question.

Tenant unexpectedly decides to move out.

What are my options? Of course I can keep one month security deposit, as no 30 day move out was given.

My lease also mentions a $500 fee for early move out for any reason. That would exceed the total security deposit.

Can I expect any legal justification in asking for the full balance owed (six months rent)? And from which court, tenant/landlord, or small claims, and how realistic is it?

If your running it in an LLC, in most states this means an atty must rep you in court. For something like this it can get expensive.

You also are not allowed to double dip in some states. Double dipping means you got paid out on the lease and also got rents from new tenants.

You need to review your state statutes. I have a lease break right now too. I'll keep the deposit instead of charging her to buy out the lease. My house will re-rent quickly so I shouldn't be out too much.

You have to look at the options and the associated costs which are typically state specific (as far as the law.)

So your lease mentions a $500 fee for early moveout for any reason.

That will probably be interpreted as a liquidated damages clause which provides settlement of all damages by prior agreement.

James, Everything is negotiable.

Tell them they need to pay $____ to settle up and avoid court. If they pay it you're golden.

Does the res have a garnishable job to pay you? Trying to squeeze blood from a stone?

Gotta know YOUR judge. Will he honor such a clause?

My judge will not allow the remaining months of the lease, only a 30 day notice period.

James - your first post required that the total rent (12 months) was to be paid in monthly payments. That was a contract that required the tenant to pay for the remaining 6 months and in our Ct leases that would hold the tenant responsible to pay in full until someone was found to fill the vacancy - just like in NJ.

BUT, then you added an early termination fee of $500.

and now you say the security deposit doesn't even cover that and you want to switch back to the remaining 6 months balance owned.

I don't think you can have it both ways. I believe your early termination fee has over-written your tenant's obligation to pay the full 12 months payments.

If you had collected 2 month's security deposit instead of only 1 month, you would have been able to recoup at least the $500.00 ETF that wasn't paid.

I had a similar situation where my tenant lost his job after 6 months on his lease and had to move back home in another state but I was holding 2 months security of $1400.00. Tenant was apologetic - and told me to keep the security deposit which I would have done anyway.

I don't agree on early termination fees because that tells the tenant he can move out any time he wants to. I stick to the year's lease requirement and always collect 2 months security and NEVER first,last plus security. Same amount of payment but ten times more advantageous for the landlord.