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General Landlording & Rental Properties

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Andy Rousch
  • Investor
  • Mt. Arlington NJ
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Tenants using security deposit in N.J. to cover rent?

Andy Rousch
  • Investor
  • Mt. Arlington NJ
Posted Aug 21 2020, 09:35

So one of my tenants asked to use there security deposit to cover this months rent as they are running low on funds and Gov. Murphy’s executive order 128 allows for tenants to use their security deposit currently during the pandemic.

Do I have to let them use it or is it optional of the landlord to accept? The way it is worded is hard to understand

It will be great to prevent a missed payment, at the same time with no security deposit things can get ugly when they eventually move out

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