Rent Control in Union City, NJ
Taken from Rent Stabilization Ordinance of Union City, NJ
"Applicability. The terms of this chapter apply to individual dwelling units within a building, including condominium or cooperative units in the process of being converted, or having been converted, rather than to an individual tenant occupying a dwelling unit.
Exceptions. This chapter shall not apply to:
(1) Units in one-, two- and three-family buildings.
(2) Units in four-, five- and six-family buildings that are owner-occupied. Owners of four-, five- and six-family buildings, as part of their registration, must file an affidavit stating that they reside in the building. The burden remains on the owner to demonstrate residency.
(3) Motels, hotels and similar type building and buildings intended for transient use, floor space used strictly for commercial purposes in any type building, including state-licensed rooming houses. Dwelling units rented for the first time after the adoption of this chapter are exempt, and the initial rent may be determined by the landlord, but all subsequent rents shall be subject to the provisions of this chapter.
(4) New construction, consistent with state law, shall be exempt from this chapter."
When I read this it sounds as a condo unit is not subject to rent controls assuming it wasn't part a conversion. Just under exceptions (3) it sounds as the initial rent isn't but subsequent rents are. A condo association can raise maintenance fees at any point so a owner could potentially be in the red for some time when limited to 3.5% increases.
So based on the ordinance is a condo subject to rent control?
Thanks