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ComeBackAndHauntMe t1_jbmnc81 wrote

Reply to comment by sutisuc in Newport Rental Crazy Price Increase 20-25%+ by recklessmax80

This is not correct information and that’s part of the problem. It’s easy to dupe tenants who just repeat what they hear and who don’t read and think critically for themselves. The state statute regarding rent control (the NJ Newly Constructed Multiple Dwelling Law aka NJSA 2A:42-84.1 et seq) and the Jersey City rent control ordinance (Chapter 260) have very specific requirements about what needs to have happened and when in order for a building to have an exemption for rent control. There is no “one size fits all” automatic 30 year exemption. And not all exemptions are for 30 years. As a matter of fact, the default for all buildings in Jersey City is that they are subject to rent control unless specific requirements have been met.

Perpetuating incorrect information allows both the city and landlords to take advantage of tenants who don’t know better.

Now for the cya: I’m not a lawyer but I do know the local and state rent control laws very well. Feel to DM for specifics if you like.

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sutisuc t1_jbmorzl wrote

That was my understanding of the law. Basically buildings had to opt in to the exemption. That’s not correct?

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ComeBackAndHauntMe t1_jbmroaw wrote

It’s actually more nuanced than that. There are specific requirements that must be met by both the building and the building’s original owner. I’d be glad to walk through them with you. Feel DM me and I’ll explain.

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sutisuc t1_jbmuofk wrote

Why not just post it here so everyone else is aware?

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ComeBackAndHauntMe t1_jbo6bmk wrote

You’re absolutely right. That’s the right thing to do. Here is a start and I will post again later today after I draft a comprehensive summary.

This is the NJ State law: https://www.state.nj.us/dca/divisions/codes/publications/pdf_lti/new_const_m_dwell_law.pdf

In addition, if you live in Jersey City, this is our local law, Chapter 260: https://library.municode.com/nj/jersey_city/codes/code_of_ordinances?nodeId=CH260RECO

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sutisuc t1_jbq26cc wrote

I mean the state law basically confirms what I was saying, as long as it’s 30 years or newer and they inform you of it in their lease they’re exempt

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