The FAIR Act regulates the use of algorithmic rent-setting systems to prevent landlords from using these algorithms to coordinate rental prices or occupancy levels. Preventing the use of software that enables this landlord collusion protects renters from artificially inflated rents and promotes a fairer, more competitive housing market.

“As these algorithms increase in popularity, they contribute to an increasingly unaffordable housing market, placing undue financial strain on renters and exacerbating the housing crisis in New Jersey,” said Assemblywoman Lopez (D-Middlesex), Chair of the Assembly Housing Committee. “We cannot let New Jersey families fall prey to predatory practices – intentional or otherwise - enabled by technology. This bill is a vital tool in stopping corporations from using big data to hike up housing and rental costs.”

“Housing affordability is one of the defining challenges facing New Jersey, and we’re using every tool available to bring costs down,” said Governor Mikie Sherrill. “Landlords, who should be competing to provide the best price to renters, are instead colluding to drive prices up through so called ‘algorithmic pricing.’  That stops now. As we continue our whole-of-government approach to addressing our housing crisis, this legislation is another important step toward making our state more affordable.”