Disregard Scott's answer. MA is obviously not New Jersey as there most definitely are set percentages for specific residential rental units with differences per town. So ask local realtors or your municipal office.

Jack

Said well by Jack. It may also depend upon if you staying with the same tenant (ask this also)

whatever you want. there is no set percentage.

Hi Ivy,

Your answer would be dependent on whether or not your town has rent control legislation. Both Ridgefield Park Village and Ridgefield Borough do. The exact language for their rental code can be found online for free. Follow the link below, click on "Online Code Library" and then "New Jersey" and you will find out all your answers right there. I would still follow this up with a phone call to the municipal building to make sure. Hope this helps!

Sincerely,

Jacobus "Jack" Vollenberg
RE Appraiser - Vollenberg Appraisers
Asset Manager - ERA Statewide Realty
Vollenberg@iname.com
Cell (973) 590-0142