Uhhh you do realize the disastrous law is a signature piece of legislation of someone with veto power who thinks himself infallible.  

If you are in a municipality with rent control laws you will have to research them in detail and comply with their rent-increase requirements.In New Jersey you must provide the tenant with a Notice to Quit and a notice of the rent increase.

If the material is not current, like this year by a CPA or a law firm (not a guru lawyer) a government agency or a university/school, ignore it!

Does anyone know how the land lord tenant laws are different in these two states?

Rent is due on the first by close of business and a late fee equal to the maximum allowed under your state law should be assessed on the second.

Also you need to look into CT law about renting for 6 months.

Jon Holdman just cited a bunch of laws pointing out DOS violations with any option to buy.  

Just wanted to see if anyone has had any issues with the new law that went into affect on 3OCT15.

Possible, but you need legal advice to structure things correctly to stay out of securities law trouble (federal exemption and compliance with state regulations) AND to know how to legally make any offerings available to prospective investors.  

The laws are what differ from state to state.