New Jersey Furnished Homes Monthly Rentals from $18 | HomeToGo (2024)

FAQs

What is a month to month lease in NJ? ›

Yearly and month-to-month leases will automatically renew for another term unless a valid notice to quit is given by the landlord or unless the tenant gives notice to the landlord that the tenant will return possession of the premises to the landlord.

Since vacancies are low and demand is so high, landlords and property management companies can ask for higher rents.

Yes! Airbnb is legal in the Garden State! But here's the catch - each spot in New Jersey has its own set of rules for short-term rentals. Generally speaking, New Jersey slaps a state occupancy tax on these rentals.

New Jersey's rent increase laws state that a landlord cannot increase the rent during the existing lease. If the fixed-term lease has ended and you entered a month-to-month lease, you must give the tenant 30 days' notice before raising the rent.

No residential landlord may evict or fail to renew a lease, whether it is a written or an oral lease without good cause. The landlord must be able to prove in court that he has grounds for an eviction.

NYC is the most expensive city in America so it should come as no surprise that New Jersey offers a more affordable cost of living. Newark and Jersey City are both considerably cheaper than NYC. The median home price in Manhattan is $965,00 while the median home price in Jersey City is $337,000 and $210,000 in Newark.

What is the Living Wage in North Jersey? According to the Living Wage Calculator, the living hourly wage for someone living in Bergen County with no children is $24.87 per hour. Two working adults with one child should both be making $25.18 an hour for a living wage, according to the calculator.

Income Eligibility Guidelines

HUD sets the lower income limits at 80% and very low-income limits at 50% of the median income for the county or metropolitan area in which you choose to live. Income limits vary from area to area so you may be eligible at one housing authority but not at another.

New Jersey has no statewide rent control laws in place. However, cities and counties can enforce their own rent control laws which must be followed if you own a property in one of these areas. Typically local rent control limits rent increases to between 2-6%, though it all depends on the area.

For those without a lease, you are vulnerable to the rent being increased at any point during your rental period. However, it's important to know that even without a lease your landlord is still required to give you a 30-day notice for ending your lease or for increasing your rent.

Is New Jersey tenant friendly? ›

New Jersey is not landlord-friendly because laws favor tenants. Many cities have rent control policies, there are limits on rent increases, and the eviction process can be slow.

If the landlord wishes to end a month-to-month tenancy, the landlord must give the tenant a written one-month notice. This notice must state that the tenancy will end at the end of the month, and the tenant must move out of the rental unit by that time.

For those without a lease, you are vulnerable to the rent being increased at any point during your rental period. However, it's important to know that even without a lease your landlord is still required to give you a 30-day notice for ending your lease or for increasing your rent.

A lease is a contract between a Landlord and tenant that gives the tenant the right to live in a property for a fixed period of time ( usually between 6-12 months).