N.J. DCA Landlord/Tenant Information Series — Condominium and Cooperative Conversion Law

Citation
N.J. DCA Landlord/Tenant Information Series — Condominium and Cooperative Conversion Law
Jurisdiction
New Jersey (state)
Source
Official source
Original Source
https://www.nj.gov/dca/codes/publications/pdf_lti/condo_laws.pdf ↗

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Full Text

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c. Has an annual household income that does not exceed an amount equal to three times the
county per capita personal income, as last reported by the Department of Labor and Industry on
the basis of the U.S. Department of Commerce's Bureau of Economic Analysis data, or
$50,000.00, whichever is greater; and

d. Has occupied the premises as his principal residence for at least one year or has a lease on
the premises for a period longer than one year.

The department shall adjust the county per capita personal income to be used in subsection c.
of this section if there is a difference of one or more years between (1) the year in which the last
reported county per capita personal income was based and (2) the last year in which the tenant's
annual household income is based. The county per capita personal income shall be adjusted by
the department by an amount equal to the number of years of the difference above times the
average increase or decrease in the county per capita personal income for three years, including
in the calculation the current year reported and the three immediately preceding years.

The administrative agency or officer shall likewise send a notice of denial with reasons to any
tenant whom it determines to be ineligible. The owner shall be notified of those tenants who are
determined to be eligible and ineligible.