New Jersey S451 prohibits using algorithmic systems to influence residential rental prices and supply.

New Jersey S451, the "Forbidding the Algorithmic Inflation of Rent (FAIR) Act," makes it unlawful to use algorithmic systems to influence the price and supply of residential rental units. The bill defines a "coordinator" as any person operating a software or data analytics service that collects rental data from multiple property owners, analyzes it, and recommends rental prices or lease terms. It is illegal for rental property owners to use such services or for coordinators to facilitate agreements that restrict competition.

New Jersey S451 prohibits using algorithmic systems to influence residential rental prices and supply.

New Jersey S451, the "Forbidding the Algorithmic Inflation of Rent (FAIR) Act," makes it unlawful to use algorithmic systems to influence the price and supply of residential rental units. The bill defines a "coordinator" as any person operating a software or data analytics service that collects rental data from multiple property owners, analyzes it, and recommends rental prices or lease terms. It is illegal for rental property owners to use such services or for coordinators to facilitate agreements that restrict competition.