Changes To Rent Control In Hoboken: Virtual Meeting Is Next Step

HOBOKEN, NJ — As rents continue to escalate in cities across the country — the average rent in Hoboken is $3,739, according to RentCafe — the city will host a virtual forum Monday night on proposed changes to rent control that limits how much landlords of older buildings can increase the rent.

No action will be taken at the meeting, and a formal vote will be held another day.

Hoboken's Rent Control Ordinance took effect in 1973. It limits annual increases to the Cost of Living Increase set by the federal government, usually 2-8 percent each year. It applies to buildings 30 years old and older.

There are exceptions allowed to help landlords afford to maintain buildings, such as a 25 percent decontrol every three years if a tenant leaves willingly, and landlords can apply to the city's Rent Leveling Board to pass along increases due to rehabilitation, maintenance, and tax and water increases.

The Hoboken City Council voted last month to introduce some proposed changes to the amendment, and they will soon hold a final vote.

Many amendments have been proposed to the ordinance since 1973, often to protect tenants, sometimes to help landlords make a return on their investment.

State And Local Laws

Each town can set its own Rent Control Ordinance and amend it, but there is no statewide law limiting all rent increases to a certain percent — yet, New Jersey state law does mandate that increases must be "conscionable" or tenants can fight them in court.

Also, landlords can only evict tenants in New Jersey for specific reasons, under state law.

If you have any questions about whether your rent increase or your notice to leave are valid, the city has a lawyer who can help both landlords and tenants navigate local and state laws for free. Find out more here.

The New Changes

The revisions up for a vote would further limit the amount that landlords can raise rents on rent controlled units, a matter meant to bring the laws in line with other towns in Hudson County, officials have said.

The measure up for a vote in Hoboken limits the rent increase the current year to 4 percent rather than 7.5 percent. It also would limit vacancy decontrols to 10 percent every five years instead of 25 percent every three years.

What do you think? Comment below.

Click here to join the Zoom about the changes.

Or you can call in: phone number: 1-301-715-8592 Webinar ID: 825 4600 8567 Passcode: 533947

Read more about recent changes to Hoboken's rent laws here.