Hoboken Fair Housing Association Supports the Rent Control Amendment Proposed by Councilpersons Giattino and Bhalla

HFHA announces:

Hoboken Fair Housing Association (HFHA) supports the
ordinance on the city council agenda tonight that is an amendment to Chapter
155, rent control, of the Hoboken Municipal Code.  The proposed ordinance deals with condo
rentals and is sponsored by Councilwoman Giattino and seconded by Councilman
The proposed ordinance replaces a regulation that was
recently declared ultra vires (beyond the scope of the rent leveling board) in
the court system.  It allows owner-occupiers
of condos that live in their units for a minimum of two years, and subsequently
choose to offer their unit for rent, a full vacancy decontrol for the initial
rental.  This addresses the needs of
non-investor owner-occupiers of condos in Hoboken by eliminating the need to
apply for a hardship increase. 
Condos were created as a way for people unable to afford a
single family home the opportunity to enjoy property ownership.   The proposal protects such owner-occupiers
that, after a period of time, choose to rent out their units while
simultaneously protecting other owner-occupiers from extensive investment
purchases that could turn condo buildings into de facto rental properties
thereby making it problematic for future purchasers to obtain a mortgage on
condos offered for sale.
Councilwoman Giattino consulted with both landlords and tenants
when crafting the ordinance with Councilman Bhalla.  The strength and fairness of this proposed
ordinance proves that the Council and residents can work together to craft
legislation that is fair to all renters and owners.  Unlike the dangerous ballot question (Hoboken
Public Question #1) supported by the developer/real estate interests group Mile
Square Taxpayers Association which will appear on the November 5th ballot, the
proposed ordinance represents a fair way to address the needs of all Hoboken
residents, renters and owners alike, and clearly demonstrates how the
legislative process can address such matters without harming the community.  HFHA thanks Councilwoman Giattino and
Councilman Bhalla for their efforts on behalf of all Hoboken residents.

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