Hoboken: Once again going the wrong direction on Rent Control
Recently the Hoboken City Council had a first reading on amendments to the current Rent Control Ordinance that it said aligned it with other Rent Control Ordinances other Hudson County Municipalities. Should that matter? Does that Matter? The answer is NO.
Hoboken Rent Control Amendments Explained:
This revised ordinance intends to ignore the rationality behind CPI increases and will continue to drive property owners to convert to private residences or undermaintain their rental properties
If the premise is that Hoboken has fallen out of step with Hudson County rent control, then a comparison table should have been prepared. Had real research been done, it would have been discovered that Jersey City’s form of rent control would provide greater, not lesser, vacancy decontrol among other benefits;
The affordable housing benefits stated in the preamble are illusory, because income-constrained families do not get selected for housing they cannot afford. The only way to provide affordable housing for families that need it is through intentioned programming which Hoboken has not created;