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Gov. Murphy announces suspension of rent increases at all NJ Housing and Mortgage Finance Agency regulated properties

NEW JERSEY – Governor Phil Murphy Thursday announced that the New Jersey Housing and Mortgage Finance Agency has unanimously voted to suspend rent increases at all eligible properties within the Agency’s portfolio, which includes 36,000 rental units across the state.

“Many New Jerseyans are now facing the difficult financial realities of unemployment and a loss of income due to COVID-19,” Murphy said. “With this action, thousands of low- and moderate-income families, who have been among the most-economically impacted during this crisis, will not have to fear a rent increase.”

The suspension of rent increases will remain in place until the termination of Executive Order 103. Thereafter, eligible properties in the Agency’s portfolio seeking rent increases of up to 1.4% may do so only after 30-day notice is provided to NJHMFA and residents. Any request in excess of this amount must first be reviewed and approved by NJHMFA staff. 

Homeowners and renters whose ability to pay their mortgage or rent has been impacted by COVID-19 can now seek housing counseling to help prevent possible eviction or foreclosure. These services are available at no cost to the consumer.

A full list of participating housing counselors and more details on the program may be found at: njhousing.gov/foreclosure

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Jay Edwards

Born and raised in Northwest NJ, Jay has a degree in Communications and has had a life-long interest in local radio and various styles of music. Jay has held numerous jobs over the years such as stunt car driver, bartender, voice-over artist, traffic reporter (award winning), NY Yankee maintenance crewmember and peanut farm worker. His hobbies include mountain climbing, snowmobiling, cooking, performing stand-up comedy and he is an avid squirrel watcher. Jay has been a guest on America’s Morning Headquarters,program on The Weather Channel, and was interviewed by Sam Champion.

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