N.J. Towns Move to Limit Rent Controls

There are several moves afoot to limit or eliminate local rent controls in New Jersey, on a municipal level. For instance, in the town of Neptune a measure is being considered to eliminate rent controls for properties with four rental units or less.

Meanwhile, in Hoboken a referendum to reform local rent controls will appear on the ballot this year after having been narrowly defeated in last year’s post-Hurricane Sandy voting. The ballot measure would eliminate rent controls in buildings with 4 or fewer rental units upon vacancy and would allow a decontrol-recontrol scenario for units in buildings with 5 or more units.

 

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