{"data":{"id":"us-nj/n.j.-stat.-56-9-21","jurisdiction":"us-nj","citation":"N.J. Stat. § 56:9-21","heading":"Findings, declarations.","body":"2.\tThe Legislature finds and declares that:\na.\tNew Jersey is in the midst of an affordable housing crisis, as demonstrated by rental housing industry data showing median rent for a three-bedroom apartment increasing by 35 percent in the State from 2021 through 2024 and a studio in a more urban environment such as Hoboken increasing by 61 percent in the same timeframe.\nb.\tData from the United States Census Bureau indicates that over 50 percent of renters in New Jersey are deemed “rent burdened,” which means an individual spends more than 30 percent of income on rent.\nc.\tRecent national data indicates that landlords of residential rental housing use property management software to collude to restrain trade and raise residential rental housing prices, which has contributed to recent increases in the State.\nd.\tLandlords engaging with the software supply real-time prices and additional lease information to companies managing the software, who proceed to use algorithms to fix rental prices. As a result, competition decreases and rental prices increase.\ne.\tA leading property management software company in the United States hinted at the outcome of using its software by stating on its website that it enables landlords to “outperform the market” by up to seven percent, with a company executive publicly stating that the software could be responsible for rent increases of up to 14.5 percent.\nf.\tProperty management software companies and landlords who use algorithmic systems that serve a coordinating function have been subject to public and private litigation for alleged violation of existing State and federal antitrust law.\ng.\tAlthough the form of restraint of trade has evolved, the vital role of antitrust law in maintaining the competitive function of the free market remains.\nh.\tNew Jersey recognizes housing as a basic human need and endeavors to expand access to affordable housing.\nL.2026, c.43, s.2.","path":["TITLE 56 TRADE NAMES, TRADE-MARKS AND UNFAIR TRADE PRACTICES"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2026, c.50, and J.R.1","vintage":"","retrieved_at":"2026-10-18T02:17:40Z","sha256":"d1a256c0b10a930c7a4773b072622c4f9b33cc9987eeacac0b1a1bbab2ab0924","source_id":"us-nj","stale":false,"prev":"us-nj/n.j.-stat.-56-9-20","next":"us-nj/n.j.-stat.-56-9-22"},"notice":"GroundRules: Original legal text. Not legal advice."}