NJ A3507

Establishes a multi-factor test for courts to determine whether a rent increase is unconscionable, including the amount of increase, landlord expenses and profitability, comparison to area rents, relative bargaining position, length of tenancy, and property condition.

Places the burden of proof on landlords to demonstrate that a rent increase is not unconscionable, with no single factor serving as the sole basis for the court's decision.

Excludes from public access court records of eviction actions where no judgment for possession was entered, as well as records of any eviction judgment entered seven or more years ago.

Exempts rent increases that comply with local rent control ordinances, approved variances, or local, state, or federal affordable housing program regulations.

Takes effect immediately upon enactment, except the court records confidentiality provisions which take effect six months after enactment.