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  • NJ Rental Property Comission Laws

    From knuttle@21:1/5 to All on Sun Nov 21 20:34:11 2021
    I have a friend who rents in NJ but lives elsewhere who is trying to rent a home through a rental agent.

    I _thought_ that rental agents couldn't double dip (at least I always
    thought they can't, AFAIK), but the rental agent she is dealing with seems
    to be asking to double dip.

    How can I find out easily on the net if that's legal?
    (I don't want to do a lot of work - but just to look it up for her and win brownie points for that effort.)

    Can a NJ rental agent charge both (a) a month's rent for finding a renter
    and then (b) charge 10% each month for managing the property (collecting
    rent, scheduling maintenance & repairs)?

    Where would I find this legal information on the net?

    --- SoupGate-Win32 v1.05
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  • From Stuart O. Bronstein@21:1/5 to knuttle on Mon Nov 22 04:37:05 2021
    knuttle <keith_nuttle@sbcglobal.net> wrote:

    I have a friend who rents in NJ but lives elsewhere who is trying
    to rent a home through a rental agent.

    I _thought_ that rental agents couldn't double dip (at least I
    always thought they can't, AFAIK), but the rental agent she is
    dealing with seems to be asking to double dip.

    In California it's legal if it's disclosed to and approved by both
    parties. I wouldn't be surprised if the rule were the same in NJ.

    --
    Stu
    http://DownToEarthLawyer.com

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Stuart O. Bronstein@21:1/5 to Stuart O. Bronstein on Mon Nov 22 08:16:49 2021
    "Stuart O. Bronstein" <spamtrap@lexregia.com> wrote:

    knuttle <keith_nuttle@sbcglobal.net> wrote:

    I have a friend who rents in NJ but lives elsewhere who is trying
    to rent a home through a rental agent.

    I _thought_ that rental agents couldn't double dip (at least I
    always thought they can't, AFAIK), but the rental agent she is
    dealing with seems to be asking to double dip.

    In California it's legal if it's disclosed to and approved by both
    parties. I wouldn't be surprised if the rule were the same in NJ.

    For the rules in New Jersey, contact the NJ Real Estate Commission:

    NJ Real Estate Commission
    PO Box 328
    Trenton, NJ 08625-0328
    Phone: 609-292-7272
    FAX: 609-292-0944
    E-mail: realestate@dobi.nj.gov

    --
    Stu
    http://DownToEarthLawyer.com

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Barry Gold@21:1/5 to knuttle on Mon Nov 22 13:36:58 2021
    On 11/21/2021 8:34 PM, knuttle wrote:
    I have a friend who rents in NJ but lives elsewhere who is trying to rent a home through a rental agent.

    I _thought_ that rental agents couldn't double dip (at least I always
    thought they can't, AFAIK), but the rental agent she is dealing with seems
    to be asking to double dip.

    How can I find out easily on the net if that's legal?
    (I don't want to do a lot of work - but just to look it up for her and win brownie points for that effort.)

    Can a NJ rental agent charge both (a) a month's rent for finding a renter
    and then (b) charge 10% each month for managing the property (collecting rent, scheduling maintenance & repairs)?

    Where would I find this legal information on the net?

    I don't know the details of NJ law, but I don't see anything wrong here.
    The agent is providing one service (bringing a suitable renter), for
    which they get paid a commission. (1 month's rent seems not
    unreasonable) And a second service: managing the property. 10% seems not unreasonable for this service.

    I wouldn't be inclined to call this "double dipping".




    --
    I do so have a memory. It's backed up on DVD... somewhere...

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Mike Anderson@21:1/5 to knuttle on Mon Nov 22 13:37:31 2021
    On 11/21/2021 11:34 PM, knuttle wrote:
    I have a friend who rents in NJ but lives elsewhere who is trying to rent a home through a rental agent.

    I _thought_ that rental agents couldn't double dip (at least I always
    thought they can't, AFAIK), but the rental agent she is dealing with seems
    to be asking to double dip.

    How can I find out easily on the net if that's legal?
    (I don't want to do a lot of work - but just to look it up for her and win brownie points for that effort.)

    Can a NJ rental agent charge both (a) a month's rent for finding a renter
    and then (b) charge 10% each month for managing the property (collecting rent, scheduling maintenance & repairs)?

    Where would I find this legal information on the net?


    Stu already replied with some info about the law (and I'm not a lawyer)
    but I'm not sure where you're seeing this as "double-dipping." If they
    are providing ongoing services, they'd expect to be paid. Where I'd see
    it as double-dipping would be if they charged both the renter and the
    landlord a "finders fee" or charged both a monthly fee. But to me, this
    is much like you buying a car from the Ford dealer and them making money
    on the sale and then you going back and paying them more for changing
    the oil, adding antifreeze, repairing a tire, etc.

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