The future of rent control in Hoboken lies in the hands of voters this November
By Tom Krosnowski
Early voting begins across New Jersey on Saturday morning, and in Hoboken, there’s an extra ballot question about the future of rent control in the city.
The referendum question is a tricky one. In fact, the City Council voted to rewrite it in the summer.
The question states, “Shall the ordinance submitted by initiative petition, providing for an amendment to Hoboken City Code Chapter 155 (Rent Control) at Section 155-31 to provide an option to landlords to pay a fee of $2,500 to the Hoboken Affordable Housing Fund in order to lease voluntarily vacated apartments at a freely negotiated rent, which thereafter remain subject to the provisions of the Rent Control ordinance, including limitations on annual increases, be adopted?”
Voting “yes” allows landlords to list vacant properties that were rent-controlled at the market rate. In exchange, they’d pay $2,500 per unit to the city’s affordable housing trust fund.
A “no” vote maintains the city’s current rent control practices.
“I am supporting ‘vote no’ on this ballot question because I am concerned that we need to keep those rent control protections in place,” said Councilmember Emily Jabbour. “On a year-to-year basis, you can only increase that rent by 5% or the Consumer Price Index, whichever is lower.”