Property Management
Under NJ law, a residential security deposit may not exceed:
AOne month's rent
B1.5 months' rent
CTwo months' rent (for new tenancy, first year)✓ Correct
DThree months' rent
Explanation
NJ limits residential security deposits to no more than one and one-half months' rent. However, for a new tenancy in the first year, the maximum is one and one-half months.
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