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Committee advances cap on rental application fees to $50, with penalties
Summary
Assembly members favorably released A4899, which would cap residential rental application fees at $50, impose a $1,500 penalty per violation, and require agency reporting. Builders and realtors asked for clarifying amendments.
The Assembly Housing Committee voted to release Assembly Bill A4899 as amended, a bill that would restrict residential rental application fees to a maximum of $50 and create penalties for noncompliance.
Committee staff described the bill's principal provisions: a $50 cap on application or similar fees for leases or subleases of residential rental property (excluding one‑ and two‑family dwellings), a $1,500 penalty per violation with $250 of each penalty remitted to the applicant, and a requirement that the Division of Consumer Affairs adopt rules and a reporting mechanism for violations.
Builders' representatives opposed aspects of the bill, saying screening costs are an operating expense landlords may ultimately shift to tenants and that a per‑applicant cap will not address supply or affordability. New Jersey Realtors asked for clarification of terms such as "agent" and "landlord" to avoid unintentionally penalizing licensees who perform market analyses or act on clients' instructions.
After discussion and recorded votes (one no vote and one abstention among present members), the committee favorably released A4899 as amended.
