Industry News
NCJAR® members who work with rental properties should be aware of New Jersey’s new limits on rental application fees and the State’s guidance regarding how those fees may be charged and disclosed.
New Jersey enacted P.L. 2025, c.405 in January 2026, establishing a $50 cap on certain fees charged in connection with rental applications. The Rental Application Fee Cap took effect May 1, 2026 and applies to landlords and their agents. The law does not apply to dwelling units located in owner-occupied one- or two-family homes offered for rent.
The $50 Limit Covers More Than the "Application Fee"
One of the most important points for REALTORS® and rental property professionals is that the $50 cap is not limited to a fee specifically labeled an "application fee."
The ROAD to Housing Act is now law—a landmark achievement that caps nearly two years of relentless advocacy by NAR. Powered by 1.4 million members, the campaign included congressional testimony, thousands of meetings, original research, coalition-building, expert policy guidance, and targeted Calls for Action.
No organization had a greater impact on getting this landmark legislation across the finish line.
Now, the baton passes from NAR's lobbying team to its policy experts as the regulatory process begins. What's next for the law's nearly 50 housing provisions?
Plus, while Congress is on August break, Shannon and Patrick reunite in Anaheim to discuss what's next for advocacy—and why, at NAR, there's no recess for the weary.
As America celebrates its 250th anniversary, Boston’s Beacon Hill stands out as a neighborhood where homeowners help protect the nation’s history. Known for its cobblestone streets, brick rowhouses, and historic charm, Beacon Hill has remained one of the most recognizable neighborhoods in the country.
For residents, owning a home is about more than real estate—it’s about preserving a piece of American history. Homeowners and local REALTORS® work together to maintain the neighborhood’s character and ensure its historic homes are protected for future generations.
Beacon Hill features a variety of architectural styles, including Federal, Greek Revival, Victorian, and Colonial Revival homes. Strict preservation guidelines help maintain the neighborhood’s unique appearance and lasting appeal.
There’s a familiar feeling returning to the housing market this spring across New Jersey: activity is picking up—but not quite breaking through.
According to the National Association of REALTORS® (NAR), pending home sales—a key indicator of future closings based on contract signings—rose 1.5% in March, marking the second consecutive monthly increase. On the surface, that’s encouraging news. But for REALTORS® working in NCJAR markets, the story behind the numbers feels even more nuanced.
A Market Waiting to Move
Locally, many agents are seeing the same pattern: serious buyers are out there, engaged, pre-approved, and ready—but waiting.
Inventory remains the defining constraint. While national housing supply ticked up slightly (just 2.3% year-over-year), that modest gain doesn’t come close to meeting demand—especially in high-pressure regions like North and Central New Jersey. Communities across Somerset, Union, Morris, and Essex counties continue to face tight supply, particularly in move-in-ready and moderately priced homes.
The result? Buyers are pausing, watching, and waiting for more options to hit the market this spring.
NAR Chief Economist Lawrence Yun reinforced what many NCJAR® members are experiencing firsthand: there is clear pent-up demand, but it cannot fully translate into closed sales without more homes available.
