Establishes certain requirements concerning unconscionable rent increases for residential rental properties.

This bill establishes a legal framework for courts in New Jersey to evaluate whether rent increases on residential properties are unconscionable. It requires judges to consider multiple factors, such as the landlord's expenses, local market rates, the property's condition, and the relative bargaining power of the tenant and landlord. The legislation places the burden of proof on landlords to demonstrate that a rent increase is fair and not excessive. Additionally, if a court finds a violation, tenants may receive lease reformation, treble damages for overpayments, and a $2,000 civil penalty. The rules do not apply to properties already covered by local rent control ordinances or affordable housing programs.