Establishes certain requirements concerning unconscionable rent increases for residential rental properties.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill establishes requirements for determining whether a rent increase is ‘unconscionable’ for residential rental properties in New Jersey. It outlines factors a court should consider, including the amount of the increase, the landlord’s expenses, comparable rents, and the relative bargaining power of the parties. The bill also introduces transparency requirements for landlords and creates a process for tenants to challenge unreasonable rent increases, potentially leading to lease reform and penalties for landlords who violate transparency rules.
Bill text
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Document of record
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Sponsors
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2 on record
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