Requires notification of rent leveling controls at time of closing of real estate transaction.

This bill requires sellers or their representatives (like real estate brokers) to inform buyers about local rent control or rent leveling ordinances during residential real estate transactions in New Jersey. Specifically, the notice must be included in the property condition disclosure statement and state: "Buyers are advised to consult local municipal ordinances and regulations regarding rent control or rent leveling that may affect the property." The notice must be provided in hard copy or electronically with buyer acknowledgment. It directly affects buyers purchasing residential properties who may later rent them out, ensuring they are aware of potential municipal restrictions. The bill does not change existing rent control laws but mandates this disclosure at the time of sale.