NJ A3497

Prohibits residential rental property owners from using "coordinators"—software, data analytics services, or entities that collect nonpublic pricing information from multiple landlords and recommend rental prices, lease terms, or occupancy levels through algorithms.

Makes it unlawful for two or more rental property owners to engage in "consciously parallel pricing coordination," defined as tacit or express agreements to raise, lower, maintain, or manipulate rental prices.

Violations constitute breaches of the New Jersey Antitrust Act, subjecting violators to existing antitrust enforcement provisions and penalties under C.56:9-7 through 56:9-17.

Exempts multiple listing services, licensed real estate brokers performing brokerage services, third-party property managers acting under rental contracts, and government entities administering rental price restriction programs like Section 8 or rent control.

Requires the Department of Law and Public Safety and Department of Community Affairs to develop a public education program and post information on their websites about the law and how consumers can report suspected violations.