New Jersey Gov. Chris Christie signed an update to the state’s self-storage lien law yesterday that allows facility operators to charge late fees and conduct their lien sales online. Assembly Bill 3293 went into effect with the governor’s signature. First introduced in February 2016, the measure unanimously passed both houses (71-0) on Jan. 8.
The law enables operators to assess monthly late fees to delinquent tenants of up to $20 or 18 percent of their rent, whichever is greater. The percentage was reduced from 20 percent during the legislation process. “Operators currently assessing this amount or less as a late fee are already in compliance,” national Self Storage Association officials said in a Jan. 15 e-mail newsletter to SSA members. “Others will need to adjust their late-fee practices.”
The bill signing was among the last measures enacted by Christie, who concluded his tenure on Monday.
The update is the second in less than four years. A 2013 update allows self-storage facility operators to assess storage-value limitations, tow defaulted vehicles and notify tenants about impending lien procedures via e-mail.
- New Jersey Legislature: Assembly Bill 3293
- The Monday Morning Globe, 1/15/18: New Jersey Standard Late Fee Signed Into Law This Morning