Rent Control Delevarage Union City / Jersey City
Anyone have experience in getting rid of rent control?
Looking at a 5 family unit in Union City, NJ which is EXEMPT from rent control if the landlord resides there.
Since I plan to live there & previous landlord did not, does that mean I can immidiately charge current tenants market rate?
Or do I have to evict (near impossible in Pro tenant NJ) each one individually before putting in new market rate tenants?
Thanks
Most Popular Reply
The rent control rules in UC were changed earlier this year so that you can no longer owner occupy 5 units and more and take it out of rent control. You can still owner occupy a 3-4 unit and take it out of rent control. Even with 3-4 units you would need the lease for the current RC tenant to end before you can place a market rate tenant.