New Jersey Governor Phil Murphy signed an executive order today (April 24) that gives a huge break to renters.
In a Tweet, he wrote that people who rent their home will be able to use their security deposits to pay their rent, whether to make up for missed payments or to pay it in full. He also said, “We recognize that federal rules allow lenders to ask for skipped payments up-front, and we are pushing to have those rules changed.”
Murphy also Tweeted out that through NJ DCA, they’re setting up an online FAQ area that will serve as a guide for rights and responsibilities for tenants and landlords. He added, “everyone will have access to the same information, so there can be no more misunderstandings.”
Gov. Murphy also reminded landlords that if they requested a mortgage forbearance from their lender, they should extend that same favor to their own tenants as well.
BREAKING: Today I’m signing an executive order allowing renters to to direct their landlords to use their security deposits to pay their rents, whether that be to make up for a shortfall or to pay it in full.
— Governor Phil Murphy (@GovMurphy) April 24, 2020
NEW: Through @NJ_DCA, we’re standing up a single online FAQ section to be a point-of-reference for both tenants and landlords as to their rights and responsibilities.
Everyone will have access to the same information, so there can be no more misunderstandings.
— Governor Phil Murphy (@GovMurphy) April 24, 2020
As a reminder: If you are a landlord who has requested mortgage forbearance from your lender, we fully expect that you extend that relief to your tenants, as well.
— Governor Phil Murphy (@GovMurphy) April 24, 2020