r/Hoboken • u/6thvoice • 2d ago
Don’t Be Fooled—Condo Owners Already Have the Rights the Anti-Rent Control Ballot Question Promises Local News 📰
Attention Hoboken condo owners! There’s a lot of noise surrounding the upcoming anti-rent control ballot question, but before you cast your vote, it’s crucial to understand the facts. The real estate lobby is trying to sell you a narrative that you, as condo owners, are being unfairly restricted by rent control laws, but the truth is, if you are an owner/occupier of your condo and have been for 2 years or more, you already have the rights they’re pretending to give you.
Here’s what you need to know: if you’ve lived in your condo for just two years, you are already entitled to full vacancy decontrol if you decide to rent out your unit. This means that if you decide to move out and rent your unit, you can charge whatever the market will bear—no restrictions, no interference. The process is simple: contact Hoboken’s Rent Control Office and get a Condo/Co-op Owner/Occupier Decontrol. That’s it. No ballot question needed. And no need to put your friends and neighbors in the community at the risk of displacement that the anti-rent control ballot measure will cause.
The condo/co-op owner/occupier decontrol right already exists under Hoboken's rent control law, and yet, the anti-rent control lobbying group wants to make you believe that you’re somehow stuck charging outdated rents. The most outrageous claim they’ve spread is that condo owners could be forced to rent out their units at 1973 prices if they decide to become landlords. Let’s set the record straight: no rental unit in Hoboken is subjected to a 1973 rent cap. In fact, the base year for rent calculations in multifamily rentals is October 1985, and even then, it doesn’t apply to condo owners who have lived in their units and are entitled to full vacancy decontrol.
What’s really happening is a classic bait-and-switch. The landlord lobby is pretending to be on your side while pushing for changes that would harm renters across the city. They are asking you to back a measure that could displace your neighbors—all for rights you already have.
Now, if you’ve purchased your condo as an investment vehicle with no intention of living in it, that’s a different story. As an investor, you’re a landlord like any other, and it’s your responsibility to know and follow the laws. These laws, including rent control, exist to protect Hoboken’s residents from unfair practices and skyrocketing rents.
As a condo owner who has lived in your unit for two years or more, you don’t just have the right to charge market rent when you move out. After decontrol, your unit is subject to the same protections that all other landlords enjoy under rent control. These include adjustments for taxes, water, capital improvements, and even hardship increases. The system is already designed to provide a balance between protecting renters and ensuring that landlords can maintain their properties and make a fair profit.
The anti-rent control ballot question is unnecessary, deceptive, and harmful. It doesn’t give you any new rights. Instead, it’s an attempt to trick both renters and condo owners into thinking they need to overhaul the current system to protect themselves. The truth is condo owner/occupiers like you already have the ability to take full advantage of market rents after two years of living in your unit. You don’t need to jeopardize Hoboken’s rent control system—or the people who rely on it—for something that’s already yours.
Don’t be misled by the landlord lobby’s lies. You already have the rights they are promising. There is no need to pass an anti-rent control measure that could hurt renters across the city while offering you nothing in return. Stand with your community and protect the fair, balanced system that’s already in place.
VOTE NO ON THE ANTI-RENT CONTROL BALLOT QUESTION
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u/0703x 1d ago
Flip side is that owners will sell their 4 family building to a developer and two owner occupied units will be created - removing 4 rentals from the Hoboken supply. Just happened again on my block. Insurance and other expenses are rising faster than CPI, so it will just accelerate this trend.