In November 2024, Hoboken residents will face an important decision on the ballot about rent control.<\/span><\/p>\n

At the heart of the issue is the fact this vote could change how rent increases are calculated for vacant apartments, which would affect both renters and landlords.\u00a0<\/span><\/p>\n

With rents going up fast in Hoboken, this issue has, understandably, sparked much debate.\u00a0<\/span><\/p>\n

Renters are worried it could make housing even more expensive, while landlords argue that they need it to help maintain their properties.\u00a0<\/span><\/p>\n

As Election Day gets closer, it\u2019s important to understand what this vote means and how it could affect the future of housing in Hoboken.<\/span><\/p>\n

Key Takeaways<\/div>

In November 2024, Hoboken residents will vote on whether landlords can raise rent to market rates when a tenant moves out.<\/span><\/li>\n
Renters worry this change could make housing less affordable, while landlords say it will help them maintain their properties.<\/span><\/li>\n
Register to vote by October 15, 2024, with early voting starting on October 26, 2024, leading up to Election Day on November 5, 2024.<\/span><\/li>\n<\/ul>\n<\/div><\/div>\n
Hoboken’s Rent Control Law and the Proposed Changes<\/b><\/h2>\n
Hoboken\u2019s rent control law, enacted in 1973, regulates rent increases for residential units, particularly older buildings.\u00a0<\/span><\/p>\n
Under the current system, landlords can only raise rent by a small amount each year based on the cost of living adjustment (COLA).\u00a0<\/span><\/p>\n
Doing so helps protect tenants from sudden and drastic rent hikes, making the city more affordable for long-term residents.<\/span><\/p>\n
However, there is an exception known as “partial vacancy decontrol.”<\/span><\/p>\n
If a tenant leaves voluntarily, landlords can raise the rent by up to 25%\u2014but only once every three years and only if no increase has been made in that time.\u00a0<\/span><\/p>\n
This system has existed for years, but the new referendum seeks to make a major change.<\/span><\/p>\n
If it passes, landlords could raise rent to market prices (which could be much higher) anytime a unit becomes vacant.\u00a0<\/span><\/p>\n
In return, they would have to pay the city a one-time fee of $2,500.\u00a0<\/span><\/p>\n
Ideally, the money would go into a fund meant to help create affordable housing in Hoboken, but no clear plans have been shared about how or when that money would be used.<\/span><\/p>\n
Why Are Tenants Opposed to the Rent Control Change?<\/b><\/h2>\n
Tenants and housing advocates are concerned that this change will make rent in Hoboken even more expensive.\u00a0<\/span><\/p>\n
They argue that allowing landlords to raise rent without limits when a unit becomes empty could make it harder for people to afford to live in the city, especially with rents already among the highest in the country.<\/span><\/p>\n
Some renters also worry that landlords might pressure tenants into leaving to take advantage of the chance to raise rent.\u00a0<\/span><\/p>\n
Not to mention, there have already been stories from renters saying they feel like their landlords are trying to push them out, and this new rule could make things worse.<\/span><\/p>\n
So, tenant groups encourage people to vote \u201cNo\u201d to keep the current rent control rules in place.<\/span><\/p>\n
Why Do Landlords Want to See This Change?<\/b><\/h2>\n
Landlords, on the other hand, are in favor of the new proposal.\u00a0<\/span><\/p>\n
They argue that the current rent control rules make it hard for them to keep up with rising costs and property maintenance.<\/span><\/p>\n
According to landlord advocates, the ability to raise rents to market rates when a unit becomes vacant would provide much-needed financial flexibility. With this in place, they argue it would help them maintain and improve their buildings.<\/span><\/p>\n
They say the $2,500 fee would also contribute to affordable housing initiatives, which could help address the city’s housing crisis.\u00a0<\/span><\/p>\n
Advocates also claim that without this flexibility, Hoboken\u2019s housing stock could deteriorate because landlords wouldn\u2019t have the funds to make necessary repairs and upgrades.<\/span><\/p>\n
Timeline for the Rent Control Vote<\/b><\/h2>\n
If you\u2019re a Hoboken resident and want to have a say in this critical issue, here are the important dates to keep in mind:<\/span><\/p>\n
\n
Voter Registration Deadline:<\/b> October 15, 2024. If you\u2019ve moved to Hoboken recently or have never registered, update your voter registration before this date.<\/span><\/li>\n
Early Voting Period:<\/b> Early voting starts on October 26, 2024, giving residents several days to vote before the official Election Day.<\/span><\/li>\n
Election Day:<\/b> November 5, 2024. This is the last day to cast your vote on the rent control referendum and other key issues on the ballot.<\/span><\/li>\n<\/ul>\n
The Controversy Over Ballot Wording: What Changed?<\/b><\/h2>\n
One of the major discussions surrounding this vote is about how the referendum was<\/span> originally worded<\/span><\/a>.\u00a0<\/span><\/p>\n
The language was written by a landlord-backed group and was criticized for being misleading.\u00a0<\/span><\/p>\n
Hoboken\u2019s City Council stepped in and voted to change the wording to make it clearer for voters.<\/span><\/p>\n
Originally, the ballot wording made it seem like the main goal of the change was to help affordable housing.\u00a0<\/span><\/p>\n
In reality, the change is mostly about allowing landlords to raise rents without limits when tenants move out.\u00a0<\/span><\/p>\n
Thankfully, the updated wording reflects this more clearly, so voters can understand exactly what they\u2019re voting on.<\/span><\/p>\n
What Happens If You Vote \u201cYes\u201d or \u201cNo\u201d?<\/b><\/h2>\n
Here\u2019s a breakdown of what each vote means:<\/span><\/p>\n
\n
A \u201cYes\u201d Vote:<\/b> You are voting to allow landlords to raise rent to market rates when a unit becomes vacant in exchange for a $2,500 fee going into Hoboken\u2019s Affordable Housing Trust Fund. After this increase, the new rent would still be subject to existing rent control laws for future annual increases.<\/span><\/li>\n
A \u201cNo\u201d Vote:<\/b> You are voting to keep the current rent control rules. This means landlords will continue to be limited to a 25% increase when a tenant leaves and only once every three years for a particular unit.<\/span><\/li>\n<\/ul>\n
Your Vote Matters in the November Rent Control Referendum<\/b><\/h2>\n
As Hoboken heads into the November 2024 election, the rent control referendum has become one of the most important and hotly debated issues on the ballot.\u00a0<\/span><\/p>\n
Both sides have strong opinions, and that\u2019s why it\u2019s so important for Hoboken residents to understand the issue before heading to the polls.\u00a0<\/span><\/p>\n
Make sure you\u2019re registered to vote by October 15, 2024, and don\u2019t forget that early voting begins on October 26, 2024.\u00a0<\/span><\/p>\n
Your vote could make all the difference in shaping Hoboken\u2019s future.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
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