This bill aims to address the affordable housing crisis in New Jersey by making it unlawful to use algorithmic systems that influence the pricing and supply of residential rental units. It specifically prohibits rental property owners, as well as their agents or subcontractors, from engaging with coordinators—entities that provide software or data analytics services that facilitate price-fixing and restrict competition among rental property owners. The bill identifies a "coordinating function" as the collection and analysis of rental data to recommend pricing and occupancy strategies, which can lead to increased rental prices and reduced competition in the housing market.

Under the provisions of this bill, any violation would be considered a breach of the New Jersey Antitrust Act, reinforcing the state's commitment to ensuring fair competition in the rental market. The bill defines key terms such as "coordinator" and "residential dwelling unit" to clarify its scope and application. By targeting the use of algorithmic pricing strategies, the legislation seeks to protect renters from unjust price increases and promote access to affordable housing in New Jersey. The act is set to take effect four months after its enactment.