A New Jersey Standard One (1) Year Lease Agreement is a common kind of long term Residential Lease. In contrast to a Month to Month Lease, a long term lease only terminates when the amount of time allotted in the lease itself (in this case one (1) year) has finished. This makes it significantly less flexible than a Month to Month Lease, but also provides both parties with a sense of stability.
A landlord can be sure that a tenant will want to remain in a One Year Lease for its entirety, as if they attempt to leave early they may find themselves financially responsible for the rent until the landlord finds a new tenant. Similarly, a tenant can be sure that the landlord will not revoke their housing without cause, as in order to end a long term lease the landlord must go through eviction proceedings, and show cause before a judge.
For these reasons, a long term lease is ideal for a tenant who is sure they will be remaining in the area for a long while and is secure in their financial situation. Most landlords will ask a tenant to complete the Rental Application Form before signing a long term lease.
As the most basic form of a long term Residential Lease, a One Year Lease will be governed by all of the same laws as all other Residential Leases. In New Jersey these can be found in New Jersey Statutes Annotated, Title 46-8.
- New Jersey landlords are required to disclose if the property is in a flood zone.
- Unless the property consists of 2 or fewer units, the landlord is required to disclose, in writing of both English and Spanish, all renters rights and landlord duties in the state of New Jersey.
- Federal law requires that a landlord disclose the presence of any lead paint based hazards on or around the property.