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Updated about 4 years ago on . Most recent reply

Michael Peters's profile image
Michael Peters's profile image
Michael Peters
  • from Pompton Lakes, New Jersey
  • Member since Feb 19, 2015
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Michael Peters's profile image
Michael Peters's profile image
Michael Peters
  • from Pompton Lakes, New Jersey
  • Member since Feb 19, 2015
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Michael Peters
  • Pompton Lakes, NJ
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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Maximum rental increased allowed.

Michael Peters
  • Pompton Lakes, NJ
Posted

What's the maximum allowed to increased your rent in New Jersey. One of my Properties taxes spiked a whole 43% this year. I was under the impression is between 3-5% maximum allowed to increase. Can we pass the additional increase to the tenant?

Rent- $925.00

5% increased=$46.25x12=555.00

New Taxes $2449-1698=$751 Increased. 

I am losing 196.00 plus the 20 insurance increased.

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