Bill > S2953

This bill establishes a limit on rent increases for certain dwelling sites in manufactured home parks, specifically for modular, industrialized buildings, and manufactured homes. The legislation caps rent increases at 3% over a 12-month period for existing tenants, with some important exceptions. Landlords can establish initial rates for new tenancies and may petition the Commissioner of Community Affairs to approve rent increases higher than 3% under specific circumstances, such as demonstrating insufficient rental income to cover unexpected increases in maintenance costs or documenting capital improvements. The bill includes significant penalties for landlords who violate the rent increase limits, including potential fines of $1,000 per violation and allowing tenants to seek legal remedies. The legislation also provides nuanced provisions regarding municipal rent control ordinances, allowing some local regulations to remain in place while preempting others that would permit higher rent increases. Tenants are given protections such as the right to petition to terminate a lease with provisions that violate the bill and potentially recover attorney's fees. The law will take effect on the first day of the third month following its enactment and will apply to tenancies beginning on or after that date.

Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2024/S2953