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Bill > A3121
NJ A3121
NJ A3121Requires notification of rent leveling controls at time of closing of real estate transaction.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
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
This bill mandates that during the closing of a real estate transaction for residential property, the seller, their real estate agent, or their attorney must inform the buyer about any local rent control or rent leveling ordinances that could impact the property if the buyer decides to rent it out. Rent control and rent leveling are local government regulations that limit how much landlords can increase rent and often dictate other terms of tenancy. This notification must be included in the property condition disclosure statement, a document detailing the property's condition, and will advise the buyer to research these local rules. The notice must be provided in a tangible format, either as a hard copy sent with a return receipt or electronically, and the buyer must acknowledge receiving it. The New Jersey Real Estate Commission will specify how this notice should appear on the property condition disclosure statement.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced, Referred to Assembly Consumer Affairs Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/A3121 |
| BillText | https://pub.njleg.gov/Bills/2026/A3500/3121_I1.HTM |
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