North NJ · Member since 2015 · 100 posts · 28 votes
Irvington Nj
I need some clarity on lease procedures for an inherited month to month tenant. Ive read up on New jersey landlor/tenant laws and truth in renting but im not clear if theres differences being the new owner. Tenant was month to month when i bought the property and I've decided i will keep her as she has been paying her rent on time, if not early. After closing she did express that she'd be willing to renew her lease, and I told her that rent would increase. Is renewal procedure and rent increase the same as if I was the original lessor? Is a renewal based on the old lease with revisions? Or can it be completely different? I will be increasing rent by $100-$200 and adding a more detailed rider.
If you own the house now and the current lease is ending then you can create a new lease that is not tied to the old lease and can be completely different. Obviously the tenant has to agree to it but you can change and revise it to your liking since the old lease is expired.