This bill aims to address the affordable housing crisis in New Jersey by prohibiting agreements among rental property owners that restrict competition regarding residential dwelling units. Specifically, it makes it unlawful for rental property owners or their agents to engage with coordinators—entities that facilitate data sharing and pricing strategies that could lead to price-fixing. The bill defines key terms such as "coordinator," "coordinating function," and "consciously parallel pricing coordination," establishing a framework to identify and penalize collusion among landlords that may contribute to rising 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 the possibility of independent action. It mandates the development of a public education program by the Department of Law and Public Safety and the Department of Community Affairs to inform citizens about the bill's provisions and how to report suspected violations. This initiative reflects the state's commitment to ensuring fair competition in the rental market and expanding access to affordable housing.