Dear Neighbor,
A toxic Public Question on the November ballot is poised to gut Hoboken’s Rent Control Ordinance. If approved, this Question - initiated by corporate landlords and their special interest lobbyists - would remove thousands of below-market units from the rental market. Misleadingly promoted as supporting affordable housing, if passed, this Question would reset all rent control units to market rate upon any vacancy in exchange for a payment less than an average Hoboken monthly rent.
In short, I am asking my neighbors and all Hoboken voters to help save rent control, and VOTE NO.
Under current law, landlords of rent-controlled properties are limited to annual rent increases of 5% or the Consumer Price Index, whichever is less. Landlords also can increase rent up to 25% if a unit becomes vacant after three years or more. But, if this Question passes, landlords could raise the rent to WHATEVER THE MARKET WILL BEAR after ANY VACANCY if they pay $2,500/unit into Hoboken’s Affordable Housing Trust Fund.
In July, the City Council unanimously passed a resolution opposing the Public Question. While there are many issues on which my Council colleagues disagree, on this, we are united: Hoboken residents should vote NO and reject this bad deal.
With housing costs and rents skyrocketing, this Question could forever change Hoboken’s rental market by gutting Hoboken’s Rent Control protections. Don’t be fooled by the lies pushed by corporate landlords and their lobbyists who are spending hundreds of thousands of dollars to improve their balance sheets at tenants’ expense.
I urge everyone to VOTE NO. If you have received a vote by mail ballot, please flip it over—find the Hoboken Question—and VOTE NO.
Thank you for voting,
