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sutisuc t1_jbmorzl wrote

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

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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