CALL TO ACTION!!!
2025 - SJREIA Member Notice: Stay Informed for the NJ Gubernatorial Primary
Dear SJREIA Members,
On May 20, 2025, the New Jersey gubernatorial debate took place, offering insights into the candidates’ positions on issues impacting real estate investors. You can watch the full debate on YouTube at https://www.youtube.com/watch?v=D59Da1uRte4&t=272s . With the primary election approaching on June 10, 2025, it’s critical for our members to educate themselves on the candidates and their potential impact on our industry.
Over recent years, real estate investors in New Jersey have faced numerous regulatory changes that have increased operating costs and affected our tenants. These include:
- Background Check Requirements: Mandated tenant screenings have added administrative burdens and costs, often $50-$100 per applicant.
- Lead Inspections: Stricter regulations require inspections costing $300-$600 per unit, with remediation expenses further impacting budgets.
- Property Tax Increases: Annual tax hikes in some municipalities, often exceeding 5%, have reduced profit margins.
- Insurance Premium Increases: Rising premiums, sometimes up 10-15% annually, have added financial strain.
- Proposed Gas Stove Bans: Though not implemented, such proposals raised concerns about retrofit costs, estimated at $1,000-$2,500 per unit for electric conversions.
These regulations have challenged our ability to maintain affordable housing for tenants while sustaining viable businesses. As investors, understanding how the next governor’s policies might shape our operating environment is essential. We encourage you to review the debate, research the candidates, and consider how their platforms align with the needs of our industry and communities.
The primary election on June 10, 2025, is a key opportunity to influence New Jersey’s future. Ensure you are registered to vote and prepared to cast your ballot. For more information on voter registration or candidate positions, visit official state resources or review the debate footage.