Loss when leaving apartment

[John111]

What is the name of your state? New Jersey

All,

I have found apartment which I would like to rent but I am concerned about one of the chapters in the rental agreement. It says:

“A 60 day notice (at least) must be given before apartment is vacated to be eligible for the return of the deposit. Your deposit will be returned to you upon inspection of the apartment. We have thirty days by law to return the security. You can not use the security toward the rent. In the event that you vacate the apartment within a year half of your security money will be kept in order to clean ant paint the apartment.”

The agreement does not say that this is year-to-year lease, neither it says that it is month-to-month lease. According to my understanding of law this makes it month-to-month by default.

Security deposit is 1.5 moth rent.

I will leave apartment only in case something unexpected/emergency happens and it’s unlikely I’ll know about it 60 days in advance. So, I’m trying to figure out potential loss in the following scenarios:

1. I leave within a year with very short notice (e.g. 1 week). I am losing full deposit; do I also have to pay for next 30 or even next 60 days?
2. I leave within a year with 30 days notice. I am losing full deposit; do I also have to pay for next 30 days?
3. I leave after a year with 30 days notice. I have a choice either to pay for next 30 days and get security back OR do not pay for next 30 days and lose security, right?

Thanks,

John

 

[John111]

Simplified question

Ok, here is simplified version of my question: if month-to-month rental agreement says “A 60 day notice (at least) must be given before apartment is vacated to be eligible for the return of the deposit” and I don’t give 60 days notice, am I only losing the deposit or also I am liable for any future rent in addition to the deposit (assuming that there is no damage in the apartment)?

Thanks

 

[ENASNI]

Ok, here is simplified version of my question: if month-to-month rental agreement says “A 60 day notice (at least) must be given before apartment is vacated to be eligible for the return of the deposit” and I don’t give 60 days notice, am I only losing the deposit or also I am liable for any future rent in addition to the deposit (assuming that there is no damage in the apartment)?

Thanks

Well thanks John for the "simplified version" but that is not the problem nor the reason why your thread was left unanswered, (Well not my reasons).

I am under the impression that you should always have the option to turn down an apartment if you do not like the lease/agreement.

OR..

Gosh forbid.. Talk to your potential landlord and find out if he/she is under the impression it is a year lease, or is it month to month. (did you ask and ask that it be worded so?)

Which leads me to.

Ask for some things to be changed on the lease if you do not agree with them.

It is better to make sure you and they know what they are getting into before making a contract.

That seems "simple" to me.

 

[John111]

ENASNI,

Thank you very much for your answer. New Jersey law says that if lease does not say term, it is automatically month to month and this is what both I and landlord understand.

Of course I have asked him to change the chapter about 60 days notice, but he did not agree. Unfortunately, in this area it is not easy to find an apartment and this is realy nice one close to park, great commute, etc. - I've been looking for months. He will easily find another tenant who will accept the agreement as it is. So, I am just trying to understand what it legaly means:

if I don’t give 60 days notice, am I only losing the deposit or I am also liable for any future rent?

Thank you.

 

[BSharp]

The deposit is for potential damage. You don't lose that unless you like put holes in walls.

Last months rent you do lose.

Clarify the 'security depost' that it is not another name for 'last month' rent. Write that on the contract. With contracts, always keep a loose pen handy, it makes the originator nervous, but screw them. 'Security' means damage security. That is always tenants money unless they damage property.

First month rent, last month rent and security (damage) deposit is pretty standard. All is negotiable. Clarify those terminolgies on the contract.

60 days is a lot. Some areas favor landlords more but usually like a college town where lease terms they try to strongarm August to August cuz it follows the college schedule. Always alternatives. Call other landlords and see if 60 days is the norm. Else bye bye.

A Contract has 1) term and 2) payment. If term is listed as final DATE like 1 year away OR says term is 1 year OR final date is 1 year, this is lease. The term determines if it's lease contract. No term, then it's month to month rent agreement.

You must always give 30 days written notice. Not 1 week.
If you signed contract with 60 days you must give 60. The security deposit is technically yours but you are liable for the extra month.

Never fall in love with ANY real estate. There are always other alternatives. Always rent the cheapest. Otherwise pursue ownership, til you rent to another poor sucker.

 

[treese]

If you move without giving the required 60 day written notice, you can be held liable for the rent for thise 60 days.

The LL can deduct the rent owed (due to you not giving notice) from the security deposit.

 

[BSharp]

Security deposit is 1.5 moth rent.

Thanks, John

Thought I would stress your point here.

This is confused. Security deposit is NOT monthly rent, it is breakage.

You are calling Monthly rent and security deposit the same thing. They are different. Some rent agreements confuse these and call them the same.

Strictly,
Security Deposit is damage control eg $350 for broken window
Monthy rent payment is $/month eg $500/month

They are dissimilar terms. A confused Landlord MIGHT interpret 'security' as protection if tenant skips out. In addition to 'security' of damage.

Contracts are best if itemized and NOT combining these terms.

So clarify in writing with Landlord, 1st, Last, + Security OR 1st + Security.

Landlords are not often the sharpest tool in the chest. lol

 

[john123456]

Landlords are not often the sharpest tool in the chest. lol

Neither are some of the posters (that is, responders).

edited for clarification.

 

[ENASNI]

uh yo dopey

You are calling Monthly rent and security deposit the same thing. They are different. lol

John was saying how much the security deposit was. Like if he paid $1500.00 a month. His security deposit was $2000.00.

Get it? Got it? Good... now amscray.

 

[Ohiogal]

John was saying how much the security deposit was. Like if he paid $1500.00 a month. His security deposit was $2000.00.

Get it? Got it? Good... now amscray.

Technically if rent is $1500.00 a month then 1.5 times that would be $2250.00 ...
No offense of course.

 

[ENASNI]

Technically if rent is $1500.00 a month then 1.5 times that would be $2250.00 ...
No offense of course.

ooopsy... Thanks... math was never my forte.