Mayor Bhalla encourages residents to provide feedback on rent control at Monday’s Council meeting, 7 pm via Zoom

The Hoboken City Council has scheduled a special City Council meeting (via Zoom) this upcoming Monday, Aug. 5, at 7 pm. 

In early July, the special interest group “Mile Square Taxpayer Association” was deemed to have received sufficient petition signatures to put a referendum on the ballot on Election Day, Nov. 5, 2024, which, if adopted by voters, would permit all rent-controlled units in Hoboken to be decontrolled (i.e., move to market rate) upon a tenant vacancy for a one-time fee of $2,500 (payable to Hoboken’s Affordable Housing Trust Fund). If adopted by voters, it would likely lead to the eventual elimination of thousands of below-market units from Hoboken’s housing market. 

During a referendum election, all registered voters in Hoboken have the opportunity to vote on a ballot question posed to voters. 

Per state law, the Hoboken City Council has an opportunity to avert a referendum by proposing amendments to the existing rent control ordinance with the agreement of the petitioners. The deadline (based on when the petitions were submitted) to make such amendments is Aug. 9, 2024. As such, the City Council will be considering an ordinance on second and final reading that would seek to modify rules and regulations pertaining to rent control if adopted. If the ordinance does not pass, the Mile Square Tax Association has indicated that their proposed referendum will go to ballot in November for Hoboken residents to decide. 

Mayor Ravi S. Bhalla encourages interested residents to speak at the virtual meeting and provide feedback to the City Council as to whether to (1) accept the ordinance changes proposed or (2) not accept, and potentially have a referendum posed to Hoboken voters in November. 

Click here for the Zoom link for Monday’s virtual City Council meeting.  

• Phone Number: 1-929-205-6099  
• Webinar ID: 881 9724 3579  
• Passcode: 145969 

‍Current rent control law: 

• When a tenant who has occupied a unit for at least three years voluntarily vacates a rent-controlled apartment, a landlord/property owner is permitted to apply for no more than a 25% increase in the monthly rent (otherwise known as vacancy decontrol) from the previous legal rent, for the next tenant. 

‍Proposed Referendum (would replace current law if passed by residents on ballot in November): 

• Would allow ALL rent-controlled units to go to market rate (upon vacancy) for a one-time fee of $2,500 (payable to the Hoboken Affordable Housing Trust Fund) 

‍Proposed Amendments to Existing Ordinance (would replace current law if passed and no referendum in November would occur): 

• Would require landlords seeking to be permitted to increase rents based on the schedule below to notify the city and pay a fee of either $100 (for currently registered units) or $3,500 (for unregistered units). After opting into this program, landlords: 
  • Would be permitted a 25% increase upon vacancy of a unit that was occupied by the same tenant(s) for 2 years or greater, accompanied by a fee of $500
  • Would be permitted a 50% increase upon vacancy of a unit that was occupied by the same tenant(s) for 5 years or greater, accompanied by a fee of $1,000
  • Would be permitted a 100% increase or an increase up to $1,750, upon vacancy of a unit that was occupied by the same tenant(s) for 10 years or greater, at the choice of the landlord, accompanied by a fee of $2,000 
• To view the full ordinance and amendments proposed, click here and scroll to the fifth page. The underlined text and strikethroughs represent amendments/changes to the current rent control ordinance. 

The ordinance passed on first reading by the City Council by a vote of 8-0.If passed on second reading by the City Council, Mayor Bhalla has the option to sign the ordinance into law or veto the ordinance.

To provide additional written feedback to the City Council, click here for the emails of City Councilmembers: https://www.hobokennj.gov/departments/city-council.