Parks v. Hazlet Tp. Rent Control Bd.

We granted certification, 107 N.J. 217 (1986), to consider the plaintiffs’ contention that the effect of the judgment below was to hold that the use of a net-operating income ratio in a municipal rent control ordinance foreclosed any further inquiry into the issue of fair return. We agree that a net operating income ratio is but one of the measures that a municipality may employ to guide rent control boards in the discharge of their duties. None, however, can displace the fundamental requirement that a rent control ordinance permit an efficient landlord to realize a “just and reasonable…