Jersey City Rent Control and Condos

[Jon A.]

Hi All,

I'm looking at a condo in Jersey City and have some questions regarding rent control there, as I'm not familiar.

The condo unit is in a building of 5 or more units and is presently rented out well below market rent.

I have two questions:

1) Are individual condo units under rent control in Jersey City, given that condos are individually deeded?

2) My plan would be to live in the unit for a couple years then rent it out. If it is that condos are under rent control, would I at least be able to set a new rent when I moved out of the unit and rented it out?

I understand that ultimately I would need to consult a local attorney before any purchase. However, I'm hoping someone here can answer these questions and give me a sense of it's worth even considering this property. Thanks.