11:5-6.5 INSURANCE
See: 15 N.J.R. 1343(a), 15 N.J.R. 1865(c). Statutory cite added. Amended by R1988 d.69, effective February 16, 1988 (operative March 1, 1988). See: 19 N.J.R. 1621(a), 20 N.J.R. 402(a). Amended to clearly define full cooperation. Amended by R.1988 d.412, effective September 6, 1988. See: 20 N.J.R. 725(a), 20 N.J.R. 2295(b). Added text to (g) that is favorable to handicapped individuals. Amended by R.1993 d.365, effective July 19, 1993. See: 24 N.J.R. 3486(a), 25 N.J.R. 3219(a). Amended by R.1994 d.266, effective June 20, 1994 (operative July 1, 1994). See: 26 N.J.R. 729(a), 26 N.J.R. 1194(a), 26 N.J.R. 1222(a), 26 N.J.R. 2581(b). Amended by R.1997 d.27, effective January 21, 1997. See: 28 N.J.R. 3065(a), 29 N.J.R. 366(a). Added (i). Amended by R.1997 d.275, effective July 7, 1997. See: 29 N.J.R. 300(a), 29 N.J.R. 2849(a). Substantially amended (b); recoclified former second sentence of (b) as (c) and amended; added (c) I through 3, (d) and (e); and recodified former (c) through (i) as (f) through (1). Administrative correction. See: 29 N.J.R. 3260(a). In (c) I , in the second paragraph, inserted “shall be sent by certified mail. The cancellation”. Amended by R.1998 d.497, effective October 5, 1998. See: 30 N.J.R. 2333(a), 30 N.J.R. 3646(a). In (f) and (h), changed N.J.A.C. references. Amended by R.2001 d.237, effective July 16, 2001. See: 32 N.J.R. 2207(a), 33 N.J.R. 2533(a). Rewrote (f) and (g). Amended by R.2004 d.130, effective April 5, 2004. See: 35 N.J.R. 4812(a), 36 N.J.R. 1780(a). In (g), deleted “forthwith” following “shall secure” and inserted “within 24 hours” following “in writing”. Amended by R.2009 d.287, effective September 21, 2009. See: 41 N.J.R. 1381(a), 41 N.J.R. 3440(a). Section was “Obligation of licensees to public and to each other”. Rewrote (k).
11:5-6.5 Residential rental referral agencies
(a) Every person engaged in the business of referring, for a fee, prospective residential tenants to possible rental units shall be licensed in accordance with the New Jersey Real Estate License Act, N.J.S.A. 45:15-1 et seq., and shall comply with the provisions of this section in addition to the obligations imposed by the Act, and other rules contained in this chapter.
(b) Every licensee subject to this section shall enter into a written contract with the prospective tenant and give such person a copy of the contract. The contract shall accurately state:
1. The services to be performed by the agency;
2. The fee charged;
3. The date and duration of the contract;
4. The affirmative actions required of the prospective tenant to utilize the service;
5. The refund policy; and
6. A statement that the business is licensed by the New Jersey Real Estate Commission.
(c) No licensee shall advertise or refer to a prospective residential tenant to:
1. A non-existent address;
2. A property not verified as available as provided in (e) below;
3. A possible rental unit or location for which the licensee does not have the lessor’s, or the duly authorized agent of the lessor’s, oral or written consent to refer prospective tenants.
(d) Oral consent of the lessor or his duly authorized agent to refer prospective tenants to a possible rental unit or location shall be confirmed by the licensee in writing within 24 hours of the licensee’s receipt of such consent.
(e) Every licensee subject to this section shall verify the continuing availability of the rental unit with the lessor or agent as follows:
1. All units advertised in media shall be verified each day the advertisement appears; and
2. All units to which prospective tenants are referred shall be verified as available every three working days.
(0 In the event a diligent effort by the licensee to verify availability of the rental unit is unsuccessful because of a failure of a lessor or agent to respond, the prospective tenant shall be specifically advised of the date and time the unit was last verified as available.
1. Every prospective tenant shall upon request be advised of the date and time any particular unit was last verified as available.
2. No licensee subject to this section shall refer a prospective tenant to any rental unit not verified as available within the previous seven calendar days.
(g) Every licensee subject to this section shall maintain sufficient telephone lines and staff to receive and answer inquiries from contract consumers.
(h) Prior to the prospective tenant obtaining rental property through the services of the licensee, no licensee shall charge or accept a fee in excess of $ 25.00 unless:
1. Any fee charged, collected or received in excess of $ 25.00 is deposited promptly in the broker’s escrow account until the services described by the contract are fully performed; or
2. The licensee posts with an approved escrow agent cash security in an amount approved by the Commission, based upon the following criteria:
i. The rental referral fees;
ii. The volume of rental referral business of the licensee;