Landlord Tenant Closing Statement to Reconcile Security Deposit - New Jersey 2026

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  1. Click ‘Get Form’ to open the Landlord Tenant Closing Statement in our editor.
  2. Begin by entering the Landlord's name and the leased premises address at the top of the form. This information is crucial for identifying the parties involved.
  3. Fill in the tenant's information, including names, forwarding address, and new phone number. Ensure accuracy to facilitate communication.
  4. Input the security deposit amount paid, along with any other deposits and rent credits. This section summarizes financial transactions related to the lease.
  5. Detail any charges against the deposit, such as cleaning charges or damage repairs. List all relevant expenses clearly for transparency.
  6. Calculate total charges, amount due to tenant, amount retained by landlord, and amount due to landlord. Double-check your calculations for accuracy.
  7. Include any comments that may clarify specific situations or agreements between parties.
  8. Finally, ensure that the form is signed by the landlord or their representative and note the date it was delivered or mailed to the tenant.

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In New Jersey, the maximum limit for security deposits is 1.5 months rent. Deduct expenses from the security deposit if the tenant leaves unpaid rent, causes damage beyond normal wear and tear, or has outstanding fees at the end of the lease.
Sample letter: Security deposit letter for full refund Dear [Residents Name], This letter serves as confirmation that your security deposit of $[Amount] is being returned in full. Thank you for leaving the rental property in good condition. Please find the enclosed check for the total amount of your deposit.
At the end of your tenancy Your landlord must return your deposit within 10 days of you both agreeing how much youll get back. If youre in a dispute with your landlord, then your deposit will be protected in the TDP scheme until the issue is sorted out.
If the landlord is deducting any amount from the security deposit for damage or for unpaid rent, the landlord must send the tenant, by registered or certified mail, an itemized list of the alleged rent due, damage claimed, and the cost of the repairs. Per N.J.S.A. 46:8-21.1.
Its essential to know what cannot be deducted from a tenants security deposit. Prohibited deductions include: Normal Wear and Tear: Deductions for minor wear and tear, such as small scuffs on walls or loose doorknobs, are not permitted.

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People also ask

Paying a deposit to a landlord If you pay a deposit to a private landlord for your rented accommodation, you should get your deposit back at the end of your tenancy as long as you have looked after the property and paid your rent.

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