New Jersey § 46:8-21.2 Limitation on amount of deposit

New Jersey Statutes

§ 46:8-21.2 — Limitation on amount of deposit

New Jersey § 46:8-21.2

Title 46PROPERTY

This text of New Jersey § 46:8-21.2 (Limitation on amount of deposit) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 46:8-21.2 (2026).

Text

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.

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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.