Establishes limit on rent increase for certain dwelling sites for modular or industrialized buildings or manufactured homes.

S 2953 limits annual rent increases for tenants leasing sites in manufactured home parks (where modular or manufactured homes are placed) to 2% per year. Landlords cannot raise rent more than 2% over any 12-month period, except for initial rates in new tenancies or if approved by the Commissioner of Community Affairs after demonstrating covered costs like taxes or maintenance. Violations require landlords to revert to the previous rent rate for the lease term and face penalties of $500 for a first offense or $1,000 for repeat offenses, plus tenant legal fees. Tenants can also use violations as a defense against eviction under existing law.