Newark Passes A 5 Rent Cap On Owner Occupant Landlords And New Construction

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=1TnBlJIZAm0

Landlords in Newark, New Jersey who previously were exempt from rent control rules are now facing the possibility of having their rents capped. • State law prohibits unconscionable rent increases so Newark decided that an “unconscionable” rent increase is any amount over 5%. This regulation is all encompassing so owner occupants in 1-4 unit properties and new construction must also comply. • The result will be developers and landlords fleeing the city. • https://gothamist.com/news/newark-wil...

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