Terms of Lease
Lease terms begin on the date specified in the lease agreement. If the beginning date of the lease
is not specified, the term will begin from the time the lease was dated. If the lease is not dated
the term will begin when the lease is delivered. If the lease is verbal the term will began on any
day agreed upon by the parties to the lease. There is no limitation to the length of the term of the
lease. If a lease is for a term of more than three years it must be written, pursuant to N.J.S.A.
25:1-12. The landlord may not unilaterally change the terms of the lease agreement while there
is a written lease in effect. If a new landlord acquires a rental property with a tenant, the new
landlord must honor any existing lease agreement. Once the lease expires the landlord may
make reasonable changes to the lease. Any changes to a written lease must be in writing and
accepted by all parties.
Reviewing the Lease
Before signing a lease, tenants should read it thoroughly to be sure they understand it and agree
with the terms of the lease. There is an attorney review period allowed for leases that are
prepared by Real Estate Brokers or Salespersons licensed by the New Jersey Real Estate
Commission. Either party may have an attorney review the lease. The attorney review period
must be completed within three business days from the delivery of the lease to the tenant and
landlord. Unless an attorney disapproves of the lease it will become legally binding after the
attorney review period. N.J. Bar Assoc. v. N.J. Assoc. of Realtor Boards, 93 N.J. 470