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Re: Allowable Rent Increases in Jersey City
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Not too shy to talk
 
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How many units are in the building? I believe Jersey City does have an ordinance that does restrict increases for buildings with 5 or more units not in a redevelopment zone.
Posted on: 2015/11/9 19:37
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Re: Allowable Rent Increases in Jersey City
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Home away from home
 
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It's funny, I'm not conservative but this law flashes me back to reading Atlas Shrugged. It's a law designed purely to give government undefined and unrestricted leverage. Don't break the law. What is the law? We'll tell you when you break it. It's like having a speed limit that isn't posted and is up to the cop that stops you. In fact in the late 90's Montana had no speed limit during daytime hours. The law was that drivers were allowed to drive at speeds considered "reasonable and prudent." From wiki Quote: On March 10, 1996,[76] a Montana patrolman issued a speeding ticket to a driver traveling at 85 mph (136 km/h) on a stretch of State Highway 200. The 50?year?old driver (Rudy Stanko) was operating a 1996 Chevrolet Camaro with less than 10,000 miles (16,093 km) on the odometer. Although the officer gave no opinion as to what would have been a reasonable speed, the driver was convicted. The driver appealed to the Montana Supreme Court. The Court reversed the conviction in case No. 97-486 on December 23, 1998; it held that a law requiring drivers to drive at a non-numerical "reasonable and proper" speed "is so vague that it violates the Due Process Clause ... of the Montana Constitution". "Unconscionable" seems just as vague as '"reasonable and proper".
Posted on: 2015/11/8 20:21
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Re: Allowable Rent Increases in Jersey City
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Home away from home
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The state does have a regulation against 'unconscionable' rent increases. However, my understanding from it (reviewed with an attorney) is that this is open to interpretation from the court.
From my understanding: Rent increases to bring the apartment to current market value, or a rate increase near or slightly above inflation rate is OK. However, increasing rent double digits to get rid of an annoying tenant is not OK.
Posted on: 2015/11/8 14:24
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Re: Allowable Rent Increases in Jersey City
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Home away from home
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unconscionable - vague hypothetical rent of $1000 , market value for similar apartment's $1500 rent raised to $1300 - conscionable ?
Posted on: 2015/11/8 4:13
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Re: Allowable Rent Increases in Jersey City
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Home away from home
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Pretty sure there are no set limits. It just can't be "unconscionable." I think in practice that gives landlords a lot of leeway.
Posted on: 2015/11/8 4:06
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Allowable Rent Increases in Jersey City
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Home away from home
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In a non rent controlled building, is there an actual cap on the % amount the rent can increased ?
Posted on: 2015/11/8 3:39
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