Establishes limit on rent increase for senior citizen tenants of certain properties financed with assistance from HMFA.

New Jersey S2436 establishes a limit on rent increases for senior citizen tenants in certain properties financed with assistance from the New Jersey Housing and Mortgage Finance Agency (HMFA). The bill prohibits landlords from increasing rent on a "covered dwelling unit" by more than two percent, or by more than the percentage change in the cost of living, whichever is greater. A "covered dwelling unit" is defined as a structure or room rented to a senior citizen for their principal place of residence, and funded by HMFA.

Establishes limit on rent increase for senior citizen tenants of certain properties financed with assistance from HMFA.

New Jersey S2436 establishes a limit on rent increases for senior citizen tenants in certain properties financed with assistance from the New Jersey Housing and Mortgage Finance Agency (HMFA). The bill prohibits landlords from increasing rent on a "covered dwelling unit" by more than two percent, or by more than the percentage change in the cost of living, whichever is greater. A "covered dwelling unit" is defined as a structure or room rented to a senior citizen for their principal place of residence, and funded by HMFA.