News & Views — Featured Articles
ASC 842 Lease Accounting For Tenants and Landlords
ASC 842 Lease Accounting For Tenants and Landlords of WithumThe new lease accounting standards under ASC 842 were effective for private companies with a calendar year-end beginning January 1, 2022. These new standards require companies to record substantially all leases on their balance...
2022 Payroll Tax Reminders
2022 Payroll Tax RemindersYear-end payroll reporting for 2022 is right around the corner. To assist you in preparing the items your payroll provider will need to complete your payroll tax returns, we have provided an overview of the most significant reporting requirements to keep in mind. New...
Smart Meters Are Coming To South Jersey
Smart Meters Are Coming To South JerseyAtlantic City Electric’s broad installation of new smart meters for its nearly 565,000 customers in South Jersey began in September. These smart meters will be distributed at residential and commercial properties in all or parts of eight South Jersey...
CRC Issues Workplace Guidance For Cannabis Use
In an effort to balance safety with employees’ rights, the New Jersey Cannabis Regulatory Commission issued guidance for workplaces as a first step toward approving standards for Workplace Impairment Recognition Expert (WIRE) certifications. Released Sept. 7, the guidance states that employees...
Lead-Based Paint in Rental Dwellings
A comprehensive guide to identifying and addressing lead-based paint hazards in rental dwellings lead_based_paint_guide_rental_dwellings.pdf (nj.gov)
New Insurance Requirements for Landlords
A new bill requires the owner of a business or the owner of a rental unit or units to maintain a liability insurance policy, including, but not limited to, commercial general liability insurance, personal liability, or an umbrella insurance policy for negligent acts in an amount of no less than...
Murphy Administration Announces Opening of Wait List for State Rental Assistance Program
DCA's Division of Housing & Community Resources will be accepting pre-applications online for the State Rental Assistance Program waiting list from July 11 to July 22. For information about the SRAP program and eligibility requirements, please visit: http://bit.ly/3HDA1J6
Bill Requiring Owners To Maintain Liability Insurance
Requires business owners and rental unit owners to maintain certain liability insurance policies.An act requiring liability insurance for business owners and rental unit owners and supplementing title 17 of the revised statutes.Be it enacted by the senate and general assembly of the state of new...
Security Deposit Replenishment after COVID -19 Health Emergency
On April 24, 2020 Governor Murphy signed Executive Order (EO) 128 allowing residential tenants to apply their security deposits to their rent accounts, subject to being replenished in accordance with the terms of that Order. The Order provides in pertinent part as follows: 1. Upon written...
Monmouth County to Sponsor Emergency Rental Assistance Pop-up Sites
COVID-19 & SBA Economic Disaster Loan Informationhe Monmouth County Board of County Commissioners is pleased to sponsor Emergency Rental Assistance Program (ERAP) pop-up sites throughout the County from Feb. 21 to Feb. 25. Representatives from the Monmouth County Department of Human Services...