New Jersey Information to Be Furnished to Lessor

State:
Multi-State
Control #:
US-OG-802
Format:
Word; 
Rich Text
Instant download

Description

This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.

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FAQ

Document Checklist for Tenants Please have the following documents and information ready prior to applying. ... Proof of identity. ... Proof of residency and rental obligation. ... Proof of income. ... Proof of past-due utilities. ... Documentation of rent due. ... Must certify that the tenant is not related nor living with the landlord.

Some common criteria include: No past evictions. No bankruptcies. Pet limits (weight, breed, how many, etc.) Income to rent ratio (such as monthly income that is three times the rent) No judgments/liens.

The landlord registration requirement applies to all rental premises or units used for dwelling purposes except owner-occupied premises with not more than two rental units.

Income must be 3 times the rent amount on a monthly basis (net) One month worth of paystubs required. A credit score of 700 and above required. No past due or collection accounts on screening report. No eviction or bankruptcy on screening report.

A landlord who does not have one will not only be fined but is at risk of losing the unpaid rent of renters who move out without paying. If the property is rented without a viable certificate of occupancy, the renter's contract is illegal. Consequently, in Khoudary v. Salem Board of Social Services, 260 N.J.S.

Anecdotally, many renters report that a score of 650 or above is often requested for approval of a rental application. In general, landlords are unlikely to approve you with poor credit history, but might consider you if you can demonstrate current financial stability.

In New Jersey, a landlord cannot force tenants to move out for no reason, but the rules do vary. First, you need to consider the lease terms. If it's a short-term rental with a month-to-month lease, then you'll only need to give one month's notice before eviction.

In order to afford this level of rent and utilities ? without paying more than 30% of income on housing ? a household must earn $5,428 monthly or $65,137 annually. The hourly housing wage in New Jersey for a two-bedroom apartment at fair market rent is $31.32.

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New Jersey Information to Be Furnished to Lessor