This bill aims to prohibit agreements among rental property owners that restrict competition regarding residential dwelling units, addressing the growing affordable housing crisis 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 that could lead to price-fixing or collusion. Specifically, the bill defines "consciously parallel pricing coordination" as a tacit agreement among property owners to manipulate rental prices, and it outlines the roles of coordinators and the functions they perform in this context.

The bill also reinforces the enforcement provisions of the New Jersey Antitrust Act, allowing for civil actions against violators without needing to exclude the possibility of independent action. Furthermore, 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 aims to enhance transparency and protect consumers in the rental market.