Establishes certain notice and compensation requirements for residential tenant displaced for purpose of renovation.

This bill requires landlords in New Jersey to provide displaced residential tenants with specific notice and compensation when evicting them for renovation purposes. Landlords must pay tenants 12 months' rent plus the cost of a moving truck if they falsely claim renovation as the reason for eviction (e.g., when seeking personal occupancy or selling to a buyer who will occupy). Tenants must receive written notice at least one month before displacement (or until lease expiration), detailing valid renovation eviction conditions. Unpaid compensation accrues 18% interest and becomes a priority lien on the property after 30 days, enforceable through county recording. The law directly affects tenants in rental units facing displacement for renovation claims, ensuring transparency and financial protection.