Talking Ed Note: A quick glance shows a limitation on overcharges to two years. This will prevent the absurd application where huge amounts were being tallied over decades due to all kinds of problematic paperwork coming out of files in City Hall. Sadly, for some owners who literally lost their property, it comes too late. There will be lots of disagreement on this proposed ordinance. The problems will not all be fixed due to the political problems stemming from the unfairness in the application. If you are a small homeowner, consider yourself on the list of those will bear the brunt of this discriminatory proposed ordinance.
Rent control in Hoboken is more than the mix of regulations limiting some home owners to far less than market rates on their housing units; it's a complete mish mash of decades old regulations applying to some and not to others. The paperwork supporting the regulation has more holes in it than the Jets defensive line in last night's AFC Championship Game in Pittsburgh.
Hoboken's rent control ain't a movie, it's a nightmare
That's only topped by the unfairness when an owner discovers a previous owner failed to provide correct data and now they are on the hook to a tenant for tens of thousands of dollars they believed were undercharged for rent in the first place.
Former Corporation Counsel Michael Kates worked on the process of updating the ordinance after the subcommittee had done who knows what for about eight months. He was criticized by Councilwoman Beth Mason. He filled her in he had a few months with the document while her subcommittee had assumed control for three times as long.
One story recounted and everyone has one is about an old Italian man in my neighborhood who had a tenant over many years. The tenant, an actor had lived in the building for many years told the Italian owner he would be leaving but needed $12,000 to do so as he couldn't "afford" to move.
So the owner went and spoke of this odd tale to several of his friends and neighbors. One person (who conveyed this story to Da Horsey) urged the man to pay the tenant the money and be done with it, least he find himself in more difficulties. The old Italian homeowner found this to be ridiculous and said why should he pay a tenant to leave who he treated more than fairly and even undercharged rent. Again, he was told to be done with it.
After relaying to the tenant he would not pay him to move, the actor went down to City Hall and had a rent calculation done going back decades on the unit. In the end he found the paperwork to his liking and the result was the Old Italian man had to pay somewhere over $40,000 to help his tenant "move."
This kind of thing has been going on for quite a while. Tonight at 6:00 in City Hall the new version of rent control will be made available. It's going to be quite a show.
Talking Ed Note: This isn't a confirmed story but I trust the source who told it months ago. Not only is rent control in Hoboken archaic, it's completely discriminatory to certain homeowners over others. The results are very bad but said to be required for diversity.
I've yet to hear what value the diversity adds to Hoboken other than putting some homeowners in a bind, while leaving other owners free reign to charge whatever the market will bear.
You never hear about celebrities complaining about the lack of diversity on the Upper West Side in Manhattan. Now why is that?