Michael Russo-3rd Ward

The Rent Control Ordinance in Hoboken has been flawed for decades. While our city has changed dramatically in the decades since rent control was last revised, this ordinance has not been touched. All previous attempts were mired in politics, until the city council made some changes to the ordinance recently. While I’m satisfied that we tackled the important issue of statute of limitations, I believe the council’s work is incomplete. In order to ensure efficient and fair implementation, the city’s rent control ordinance requires regular reviews. Tenants’ rights must be protected, and investors should have an opportunity to realize a fair return on their investments. I do not support measures that would deny protections for vulnerable tenants, including any that give incentives for investors to convert 1 to 4 family buildings into condominiums.