Home Events + News Hoboken Votes “No” on Rent Control Referendum Election 2024

Hoboken Votes “No” on Rent Control Referendum Election 2024

by Hoboken Girl Team
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On Election Day 2024, Tuesday, November 5th, voters all around the United States voted for the next president, along with a variety of state and local positions. On the ballot for Hoboken locals specifically this year was a question asking residents to vote on an amendment to the City’s rent control code. Read on for more about the Hoboken rent control referendum vote.

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About the Vote

The new amendment, if passed, would allow landlords to increase rent after a tenant vacates to market price without limitation if they pay a fee to the Hoboken Affordable Housing Trust Fund.

It came after Hoboken City Council voted down a proposal to change how rent-controlled properties are priced after a tenant vacates it, sending the referendum to a vote this November.

A vote of “no” supports maintaining the current rent control code in Hoboken and the current limits on how much a landlord can charge after a tenant vacates the property. Right now, Hoboken law is landlords are limited to raising rent to 5% or the Consumer Price Index, whichever is lower. If a tenant had been in the property for three years or more before leaving, there is a maximum of 25% increase in rent. This increase can only happen once every three years for the same unit.

A vote of “yes” means supporting the amendment to allow landlords to increase rent upon vacancy to market price without limitations, as long as they pay a $2,500 fee per unit to the City for the affordable housing fund. There would be no 5% limit or three-year maximum 25% increase on rent. It would reduce the restrictions in the current Rent Control Code. This would only impact new tenants, not current tenants.  And, it would only impact apartments that are being re-rented after a tenancy of longer than three years.

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You can read more about the background behind the vote here.

Results

A majority of Hoboken voters chose “no,” voting to maintain the current rent control code in Hoboken and the current limits on how much a landlord can charge after a tenant vacates the property.

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Stay updated on Election Day 2024 results in Hudson County via the Hudson County Clerk’s Office.

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