NJ A3998

Requires the Department of Community Affairs to establish a searchable public online registry of properties exempt from rent control, with property owners required to submit mortgage documentation, certificates of occupancy, and exemption claims within 180 days or forfeit their exemption.

Mandates property owners provide prospective tenants with written documentation including the original certificate of occupancy, mortgage loan documents, exemption claim, and the specific expiration date of the rent control exemption before signing a lease.

Requires the exemption expiration date to be prominently displayed in 12-point boldface font on the first page of all leases for exempt properties.

Property owners must file annual certifications affirming compliance with exemption requirements; filing false certifications constitutes consumer fraud with penalties up to $20,000 per offense plus treble damages and attorney fees.

Municipal construction officials must retain exemption documentation for at least 40 years, and properties will be deemed subject to rent control if municipalities cannot produce the original exemption claim filed before the certificate of occupancy was issued.