Residential Leases

Due to the decline in property values and the unstable real estate market, a lot of our clients have been renting out apartments, condominiums and houses, rather than selling, in order to cover carrying costs until the market returns. Darrell Felsenstein, Esq., Partner in the firm’s Litigation Department reminds us that all Landlords of any residential properties must file a statement with the municipality in which the residential property is located, pursuant to N.J.S.A. 46:8-27. A copy must also be provided to the Tenant. The statement must include such information as name and addresses for the record owner of the property, the registered agent and corporate offices, the property manager (if any), emergency contact information, an address within the county where notices from tenant are to be sent, name and address of any mortgage holder and if fuel oil is used, the grade, as well as, the name and address of the dealer servicing the property.

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