This bill aims to limit the application fees that residential landlords can charge prospective tenants. Specifically, it prohibits landlords from requiring an application fee that exceeds the actual cost of a credit check or related services, with a maximum fee set at $30. If the costs incurred by the landlord for these services exceed $30, they are still restricted to charging only $30 as the application fee.
Additionally, the bill establishes penalties for landlords who violate this provision, imposing a $250 fine that can be enforced through summary proceedings. The enforcement can be initiated by the Commissioner of Community Affairs or the Attorney General, and applicants have the option to pursue a separate legal action against the landlord, allowing them to recover the penalty along with reasonable attorney fees or expenses. The bill is set to take effect four months after its enactment.