NJ A755

Requires landlords to compensate displaced residential tenants with 12 months' rent plus moving truck costs when tenants are evicted for renovation purposes or when owners/buyers claim personal occupancy but intend to renovate within six months

Payment must be made five days before the tenant vacates or within five days of displacement; unpaid balances accrue 18% annual interest

Unpaid compensation after 30 days becomes a lien on the property with mortgage lien priority, requiring recording with the county clerk

Landlords must provide written notice at least one month before the requested departure date when asking tenants to vacate for renovations, and must wait until any existing lease expires

The Commissioner of Community Affairs must publish a model notice statement on the department's website within four months of enactment