Rent Increases, Navigating the Law, and the Role of a Property Management Company
KeyVest Real Estate Investing Services
THE Investor's Property Management Company and Real Estate Agency
The Importance of Legal Knowledge in Lease Updates and Rent Increases
In property management, adapting to changing circumstances while respecting tenant rights is a delicate balance. An often-navigated path is updating lease agreements and determining rent hikes, which require a deep understanding of the governing laws.
A Commitment to Compliance: KeyVest Property Management'
s Approach
At KeyVest Property Management, the law isn't just a guideline—it's a commitment. Every communication regarding rent increases is approached with the utmost respect for legal stipulations. Our diverse tenant base, from single-family homes to apartment complexes, deserves nothing less than a meticulous adherence to the rules that protect them.
New Jersey's Legal Landscape: What to Know
The Garden State has its own unique set of laws that landlords and property managers must abide by. One pivotal aspect is the notice duration required before imposing a rent increase. Unless the lease agreement specifies otherwise, New Jersey state law mandates landlords provide at least one month's notice. This communication must be formally conveyed through certified mail or hand-delivered to the lessee or a close family member.
Additionally, while New Jersey as a state doesn't set an upper limit on rent increases, local municipalities might. It underscores the importance of being aware of state laws and the regulations of individual towns and cities.
The Mark of a Trustworthy Management Company
A sign of a competent and reliable property management company is its holistic understanding of federal, state, and local laws. It's about avoiding legal repercussions, fostering trust with tenants, and ensuring they feel valued and protected.
In conclusion, a steadfast commitment to legal knowledge remains paramount as the property management landscape evolves. Companies like KeyVest Property Management stand as a testament to the importance of this dedication, ensuring that both landlords and tenants can navigate their agreements with confidence and clarity.
Contact KeyVest Property Management at jeff@keyvestre.com or 732.403.1583
