Requires landlord to provide written explanation for rent increase.

This bill requires New Jersey landlords to provide tenants with a written explanation when increasing rent. The explanation must detail why the increase is not "unconscionable," confirm compliance with local laws and ordinances, and list property-related expenses justifying the increase. For senior citizens living in designated housing, landlords must also include contact information for a representative and a specific notice about tenant rights. Landlords who fail to provide this written explanation face a $500 penalty per violation, which can be enforced by either the Commissioner of Community Affairs or the tenant. The bill aims to increase transparency in rent increases and give tenants more information to dispute unreasonable increases.