So my question is , does the lanlord still have 30 days to give me bank information , for security deposit act , before applying my security deposit for rent , or can I just send notice , and not wait 30 days for lanlord to rectify the situation as far as security deposit bank info goes , just want to know who the 30 day allowance rule applys to ,
Real Estate Attorney
Your landlord has 30 days after you give him the security deposit to notify you of the name and address of the bank where the deposit is held as well as the type of account and the interest rate. This information may have been provided to you in the lease itself so you should carefully review the lease for the deposit information. If you have not received proper notice then you may notify your landlord in writing sent certified mail that the landlord is to apply the security deposit plus 7% per year interest to your rent. Your landlord may not seek a new security deposit from you for the rest of the tenancy.
This answer is based on general legal principles only and is not intended to provide specific legal advice. This answer is for informational purposes only and does not constitute the formation of a lawyer-client relationship. Any reader of this answer should not make decisions based upon in without first directly consulting with an attorney.
Landlords are required to give tenants a statement in writing providing the name and address of the investment company, bank or savings and loan association along with the type of account, current rate of interest and amount deposited within 30 days of receipt of a security. If notification is not given, the tenant has the right to require that the security deposit be applied toward any rent due. This request must be made in writing. At no time thereafter can the landlord ask for or collect another deposit
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Landlord / Tenant Lawyer
Dear does the landlord still have 30 days to give me bank information?
I am an attorney licensed in New York. I do not practice law in New Jersey.
Your reference is to the sample letter for a tenant to provide notice as contained in the New Jersey Department of Community Affairs Division of Codes and Standards Landlord-Tenant Information Service SECURITY DEPOSIT BULLETIN at:
This is the text:
"***You have failed to notify me in writing, and within 30 days of my payment, of the name and
address of the banking institution in which you have placed my security deposit. On (date)__ , I paid a security deposit to you in the amount of $ , by check #. Therefore, I am hereby applying the remedy as prescribed by the Security Deposit Law, by informing you to apply my security deposit plus the tenant’s portion of the accrued interest to my rent for the month of . According to the law, I am without further obligation to pay you a security deposit as long as I live in the rental unit.***"
Read and review the bulletin. If you feel certain that your situation is the same as described in the Notice of Deposit of Security Funds, then the New Jersey statute offers a remedy to the landlord's failure to comply.
The answer provided to you is in the nature of general information. The general proposition being that you should try to avoid a bad outcome if you can.