Increase in security deposits

mymissy · #1 Sep 10, 2007, 12:41 PM

THE STATE LAW IN NEW JERSEY ABOUT INCREASES IN SECURITY DEPOSITS SAYS A LANDLORD Ccn only raise your security deposit once a year no more then 10% on current deposit. I've lived in this park for 43 YRS. This is my second mobile home here. My currant deposit is $90 he wants to raise it $364.00 more. If my current deposit is $90. 10% of $90 is $9 am I right?

Gregisteredtrademark · Sep 10, 2007, 12:51 PM

Quote:

Originally Posted by mymissy

THE STATE LAW IN NEW JERSEY ABOUT INCREASES IN SECURITY DEPOSITS SAYS A LANDLORD Ccn only raise your security deposit once a year no more then 10% on current deposit. I've lived in this park for 43 YRS. This is my second mobile home here. My currant deposit is $90 he wants to raise it $364.00 more. If my current deposit is $90. 10% of $90 is $9 am I right?

My math is the same as yours. I would say the only exception is if you are signing a lease and you never had one before or have moved into a new location on the property. I would call them on it. Make sure you have the documented law in hand.



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