Bill > A3497

This bill aims to combat rising rental costs in New Jersey, which the legislature has identified as a significant affordable housing crisis, by prohibiting certain coordinated actions among residential rental property owners that restrict competition. Specifically, it makes it illegal for landlords or their agents to use "coordinators"—software, data analytics services, or entities that collect and analyze nonpublic rental information (like prices, occupancy levels, or lease terms that aren't widely available to the public) to recommend rental prices or lease terms. The bill defines "consciously parallel pricing coordination" as an agreement between rental property owners to manipulate prices, and it prohibits both landlords and coordinators from engaging in this practice. While the bill targets the use of technology to fix rental prices, it includes exceptions for licensed real estate brokers performing standard brokerage services and for government entities involved in rent restriction programs. It also clarifies that actions taken by a "third party property manager" (an individual or entity managing rental properties on behalf of others) in accordance with a rental contract are not considered illegal coordination, and it explicitly exempts multiple listing services and their members. The bill strengthens the New Jersey Antitrust Act by providing specific pleading standards for violations related to this type of coordinated pricing and prohibits municipalities from enacting ordinances that contradict this act.

Budget and Finance, Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2026/A3497