How much can a landlord raise the rent in a union city, nj condo?
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How much can a landlord raise the rent in a union city, nj condo?
Whatever the market will bear.
Scott,
I am still at square one with your response... thanks for your help anyway.
Unless you are in a rent controlled unit a landlord can increase rental at the beginning of a new lease term. There are no specific laws limiting the amount of the increase. However, an increase has to be considered fair and reasonable. A court can take into account several factors in determining this.
This site has more details. http://www.nj.gov/dca/divisions/code...rse_bultin.pdf
If you are in a rent control unit , it has to be approved.
But assuming it is not, they are free to set their rent at current market value.
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