QUESTION

Can security deposit be used by the tenant any time to pay rent or just the last month?

Asked on Sep 07th, 2017 on Residential Real Estate - New Jersey
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1 ANSWER

Elder Law Attorney serving Toms River, NJ
Partner at Diana L. Anderson
2 Awards
The security deposit is meant to be kept for the length of the rental agreement.  That is why it cannot be used until the final months rent, and even then, only by agreement with the landlord.  If you use the security deposit for rent, then you will have to replace those funds to insure against damage to the unit and failure to pay rent.  
Answered on Sep 09th, 2017 at 7:36 AM

Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship

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