This bill aims to prohibit agreements among rental property owners that restrict competition regarding residential dwelling units, addressing concerns related to the rising costs of housing in New Jersey. It establishes that it is unlawful for rental property owners or their agents to engage with coordinators—entities that facilitate data sharing and pricing strategies among landlords—if such actions lead to collusion or price manipulation. The bill defines key terms such as "coordinator" and "consciously parallel pricing coordination," which refers to tacit agreements among property owners to manipulate rental prices.

Additionally, the bill reinforces the enforcement provisions of the New Jersey Antitrust Act, allowing for civil actions against violators without the need to exclude independent actions. It mandates the Department of Law and Public Safety, in collaboration with the Department of Community Affairs, to create a public education program to inform citizens about the bill's provisions and how to report suspected violations. This initiative reflects the state's commitment to addressing the affordable housing crisis and ensuring fair competition in the rental market.