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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2A:18-61.32. Termination of protected tenancy

The administrative agency or officer shall terminate the protected tenancy status immediately
upon finding that:

a. The dwelling unit is no longer the principal residence of the senior citizen tenant or
disabled tenant; or

b. The tenant's annual household income, or the average of the tenant's annual household
income for the current year, computed on an annual basis, and the tenant's annual household
income for the two preceding years, whichever is less, exceeds 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.

The department shall adjust the county per capita personal income to be used in subsection b.
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.