Security deposit law in New Jersey

One and a half months' rent. The return rule is 30 days. The controlling text is N.J. Stat. § 46:8-19 to 26.

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New Jersey's deposit ceiling

One and a half months' rent.

The cap is one and a half months' rent, and any later increase in the deposit may not exceed 10% per year.

New Jersey's return deadline

30 days.

You have 30 days after the tenancy ends to return the deposit with interest and an itemized statement of deductions, sent by personal delivery or certified mail. Special situations like a fire, flood, or condemnation shorten the window to five days.

The itemized statement rule

An itemized written statement of deductions is required, delivered by personal delivery or certified mail within 30 days. Interest earned goes back with the balance.

Account and interest rules

Deposits must be held in a New Jersey insured, interest-bearing account, and you must notify the tenant in writing of the bank and the amount, paying the interest annually or crediting it against rent.

Exposure for wrongful withholding

Up to 2x plus attorney fees.

A landlord who fails to return the deposit and interest within 30 days can be ordered to pay twice the amount wrongfully withheld plus attorney fees and court costs. The notice-of-account and annual-interest duties run the whole tenancy.

Compare New Jersey with neighboring states

• New York: one month's rent; return rule: 14 days.
• Pennsylvania: two months' rent (first year); return rule: 30 days.
• Delaware: one month's rent; return rule: 20 days.