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All Forum Posts by: Karmina Lima Fonseca

Karmina Lima Fonseca has started 1 posts and replied 1 times.

Multi-Family and Apartment Investing

Post: Can I Rent at Market Value After Home Previously Under Control

Karmina Lima FonsecaPosted
  • Rental Property Investor
  • North Bergen, NJ
  • Posts 2
  • Votes 0

Hi BiggerPockets community,

I'm considering purchasing a 2-family home in Guttenberg, NJ, which was previously registered as rent control with the town. The current seller has done a complete rehab on the property and is now selling it vacant.

My question is: Am I allowed to rent out the units at market value given that the property was previously under rent control? Are there specific regulations or processes I need to be aware of to ensure compliance with local laws? Any insights or experiences with similar situations would be greatly appreciated!

Thanks in advance for your help!

0 Votes
Jersey City, New Jersey