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W9 for Security Deposit Nj Form

W9 for Security Deposit Nj Form

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[Music] hi I'm Rob Gleaner of Robert a cleaner PC real estate attorney here in New Jersey I'm going to talk to you today what I tell my clients about security deposits they basically broken up into five different areas the purpose of the security deposit the maximum amount you can take where it's going to be held the proper use and the release requirements alright let's talk about the purpose of the security deposit the security deposit is to guarantee that the tenant is going to do what the tenant is required to do under the lease and if they don't do it there's money to be taken by the landlord if there's a default in the tenant requirements for instance if they don't pay their rent and they leave before the end of a before the end of the lease and there's a month of rent left that they have to pay you can take that out of the security deposit suppose they damage the property you can take the money out of the sec

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