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Forum / General Property Management / Rent Increase in NJ

Does anyone know what the guidelines are for increases in rent in NJ? I am a new landlord, tenant has completed 1 yr. Starting rent was lower than what it should have been due to housing market decline last year and this tenant got a really good deal. Tenant is excellent and I need to keep them but at the same time I need to be able to keep up the property and try to bring the rent up to where it should be. I will welcome any opinions on the issue. Thanks.

Charlene W, NJ on Monday, July 5, 2010

RE: Rent Increase in NJ

What does the lease say? Does it have specifications as to what happens at the end of the lease? If there is no lease in place, then tneant would be considered a month to month tenant and a thirty day notice would be needed.

Posted by Donna , NC on Friday, July 9, 2010

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