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May I keep the security deposit if a tenant backs out of a contract before moving in? What if the break of contract cause me to miss a month on renters (rent) for my property? My property is in New Jersey.

Al-Quaddir V, MD on Monday, May 16, 2016

RE: Security Deposit

Tenants are legally bound to pay rent for the full lease term, typically one year, whether or not they continue to live in the rental unit, unless in the military, suffered illness/accident or need to be in the care of a facility, domestic violence, they are unsafe, or if the landlord violates privacy rights. I would really read the lease agreement thoroughly and also consult with a lawyer to ease your mind. I am too nice so I just let them go and sign a mutual termination agreement. Good luck!!!

Posted by Jorge B, OK on Tuesday, May 17, 2016

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