Legal Question in Real Estate Law in New Jersey
Rent Control North Bergen NJ
I own several co-ops in North Bergen NJ which are rent controlled. The rents have not been raised in approximately 10 years. What needs to be done to raise the rent? Is there any way to raise it more than normal due to the fact that it was not raised in 10 years?
1 Answer from Attorneys
Re: Rent Control North Bergen NJ
Check the rent control ordinance(s) covering these properties. Every one is different, but all fix the amount of annual percentage increase allowed. You may be able to ask for additional increases based on factors such as improvements to the building. Generally, you can't go back and recapture lost years where no increase was imposed.
Remember that any increase can be started only by giving proper written notice.
Contact us if you need help with this.
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