Limits rent increases for senior citizen tenants in certain properties financed by HMFA.
New Jersey S433 establishes a limit on rent increases for senior citizen tenants in properties financed by the New Jersey Housing and Mortgage Finance Agency (HMFA). The bill defines a "covered dwelling unit" as a residential unit rented to a senior citizen for their principal place of residence and financed by HMFA. It prohibits landlords from increasing rent by more than two percent or the percentage change in the cost of living, whichever is greater, over a 12-month period.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.