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Updated over 3 years ago,
Maximum rental increased allowed.
What's the maximum allowed to increased your rent in New Jersey. One of my Properties taxes spiked a whole 43% this year. I was under the impression is between 3-5% maximum allowed to increase. Can we pass the additional increase to the tenant?
Rent- $925.00
5% increased=$46.25x12=555.00
New Taxes $2449-1698=$751 Increased.
I am losing 196.00 plus the 20 insurance increased.