Newark Municipal Code §19:2 caps annual rent increases at the lesser of the CPI increase or 4%. 4% is a hard ceiling, not the cap itself.
Sources conflict on whether an owner-occupied four-or-fewer-unit exemption exists — confirm with the Division of Rent Control, 973-733-3675, before underwriting an exemption.
Exemptions
- New construction — §19:2-18.1, up to 30 years from completion. Must be perfected by application to the Rent Control Board.
- Substantial rehabilitation — §19:2-18.3, where rehab cost exceeds 50% of fair market value and a new certificate of occupancy issues, applied for within two years of the first permit. Also must be perfected by application.
- Annual cap
- 4%
- Vacancy decontrol
- No
- Unit counts
- 1+ units
- Owner-occupied exemption
- Contested — confirm with the municipality
Sources
- Newark Municipal Code §19:2 — Rent ControlOrdinance text read directly; secondary landlord-data sites quote this cap wrongly.
- Newark Division of Rent Control — Newark Division of Rent Control, 973-733-3675 — for the contested owner-occupied exemption