Hoboken’s Questionable Rent Control Ordinance

Investigation into Hoboken Rent Control and Property Values

The Liberty Board of Realtors has recently been investigating Hoboken’s rent control laws and their enforcement. This comes in part due to a recent court decision that has ruled this ordinance and its enforcement ‘unreasonable’ in this particular case. Although this case has been brought to the spotlight, it is evident that this might not be an isolated incident and problems may be more wide spread. The Liberty Board of Realtors believes that the Hoboken rent control ordinance as it is currently written could have a negative effect on property values and tenant rights.

Due to these concerns, Liberty Board of Realtors states, “the Board will be filing applications for grant monies from both NAR and NJAR to undertake an educational campaign for the citizens of Hoboken alerting them to our concerns. If granted, the Board will be able to undertake a multi-media educational campaign for at least 18 months.”

The Liberty Board of Realtors has offered their assistance to the Hoboken City Council in an effort to ensure that a revised Rent Control Ordinance will be fair for all property owners and their tenants. To read the Liberty Board of Realtors letter to the Hoboken City Council, please visit libertybrd.org.

To view the court’s decision and see full details of the case, please visit libertybrd.org.

Sean Shallis is #1 of 19,000 Weichert Realtors sales associates nationwide and is the leading expert in Hudson, Morris, Essex and Union Counties. Please call Sean Shallis directly at 201-427-1032 for a personal consultation.