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BromioKalen t1_j2uwp4d wrote

The max security deposit allowed by the state of NJ is 1.5 months so could be less. From my experience one month is more common. Also, you don't always need a broker, but if you are moving from out of state, I would recommend it to handle things for you.

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i-am-a-name OP t1_j2ux8qz wrote

Thank you. I’m thinking worst case scenario to build my moving fund but definitely hoping I can get away without a broker and lower deposit.

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BromioKalen t1_j2uxwmp wrote

Also, keep in mind that depending on what is going on with the rental market the broker fee can be negotiated. Not exactly with the broker, but with the landlord who hired the broker to list the property. If rentals start to be in less demand this year, possible to split the fee with the landlord or have them pay it fully if you are highly qualified. Right now, most tenants are paying the brokerage fee, but that changes due to market conditions.

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