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#2260067 - 09/22/21 04:32 PM Landlord - Tenant Accounts
Bruce Gollop Offline
New Poster
Joined: Apr 2021
Posts: 21
We have a client in our New Jersey location who want to inquire on service charge fee waivers due to the account being a Tenant and Landlord account. The client has a community checking account in which they are being service charge $5 monthly. $3 for the monthly service charge and $2 for the eStatement. The client is persistent about the Tenant and Landlord accounts being free from service charges.

I don't believe that there is a federal law governing service charges on landlord-tenant accounts. Would anyone know if there is a New Jersey State law regarding service charges on landlord-tenant accounts?

Thank You.

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#2260105 - 09/22/21 09:17 PM Re: Landlord - Tenant Accounts Bruce Gollop
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 79,628
Galveston, TX
I cannot find anything other than the landlord cannot deduct expenses from the interest earned that goes back to the tenants. Either ask them for the law/regulation or call the NJ commissioner of banking. I would probably start with the former. They are the ones sending you on a wild goose chase..
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