Bill > A4614

Introduced Session

This bill requires notification of rent leveling controls at the time of closing of real estate transactions. Under the bill, the seller, the real estate broker, broker-salesperson or salesperson representing the seller, or the attorney of the seller is required to provide as part of the information listed in a property condition disclosure statement notice to the buyer of any rent control or rent leveling ordinance that may affect the property should the buyer seek to rent out the property. The notice advises the buyer to consult local municipal ordinances and regulations regarding rent control or rent leveling that may affect the property and is required to be memorialized in hard copy sent by return receipt or electronically and acknowledged by the buyer.

AI Summary

Committee Categories

Lisa Swain (D)*, 

Introduced, Referred to Assembly Consumer Affairs Committee (on 06/20/2024)

Official Document