 NJ State Rental Increase (by Maria [NJ]) Jan 14, 2022 6:54 AM
 NJ State Rental Increase (by Allym [NJ]) Jan 14, 2022 9:54 AM
NJ State Rental Increase (by Tony [NJ]) Jan 14, 2022 1:31 PM
NJ State Rental Increase (by Lana [IN]) Jan 14, 2022 6:27 PM
NJ State Rental Increase (by Ray-N-Pa [PA]) Jan 14, 2022 9:05 PM
NJ State Rental Increase (by Maria [NJ]) Posted on: Jan 14, 2022 6:54 AM
Message:
Hello Landlords,
I am an owner of a 2 family house in Northern NJ. The past year there has been nothing but drama between the 1st floor and 2nd floor tenants. The problem always caused by the 1st floor tenants in which I have adressed countless times. At this point I want them out.
Since NJ is a very tough state when it comes to tenant eviction especially, if kids live in the unit. I don't want to get into the hassle of taking them to court so I took a different route.
On October 2021, after their 1 year lease expired, I shorten their lease to 6 months with an increase of 5% plus sec deposit increase in hopes they would leave. They didnt and continued to pay their rent and on time.
My question is: After their 6 month lease expires can I increase the rent again? And I wonder how much more of a percentage?
Thank you,
Maria
--108.50.xxx.xxx |
NJ State Rental Increase (by Allym [NJ]) Posted on: Jan 14, 2022 9:54 AM
Message:
I think you are asking for trouble. Try paying them to leave. Is there carpeting upstairs and in hallways and on the first floor? It cuts down noise and might solve the problems. Try talking to both and see what the issue is and then attempt to adjust the building to fix it. Offer them a one time deal with return of security plus one months rent to leave. However, they pay. I would try to keep people who can pay because so many can't now. --108.24.xx.xx |
NJ State Rental Increase (by Tony [NJ]) Posted on: Jan 14, 2022 1:31 PM
Message:
This can vary by county but I asked this of a lawyer and was told to not exceed 10% / year for an existing tenant, even in this market. An increase in NJ cannot be unconscionable - so as not to shock the conscience of the average person. If it's raised too much and it ends up before a judge, the judge can override the increase and adjust it to a "reasonable" amount --73.215.xxx.xx |
NJ State Rental Increase (by Lana [IN]) Posted on: Jan 14, 2022 6:27 PM
Message:
Up, down wars are the worst. Do you have enough documentation for NJ to end Lease? Holdover rents usually do the trick. --216.23.xxx.xx |
NJ State Rental Increase (by Ray-N-Pa [PA]) Posted on: Jan 14, 2022 9:05 PM
Message:
You need to lead your investment which means managing conflict resolutions.
Sticking your head in the sand helps who? --24.101.xxx.xxx |
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