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During the recession, I cut rents across the board 20% in order to try to keep apartments occupied. I had one building with all H1-bs (Indians like to live with other Indians). It emptied out all at once because they all lost their jobs the same month.

Now my tenants won't move! I am way below market on several apartments. If I could do a refresh on the units, I would get a lot more $$$. I did some 3% increases this year.. still doesn't get me close to market.

Wow enforcing rent control on buildings with four or less units. I know many people who own 2 and 3 family houses who don?t gouge tenants. They don?t come anywhere near the $1,500 for a one bedroom studio rent. Gee they don?t even charge that for a 3 bedroom. They charge way below the market rate even in the ?hot? areas of JC. They charge just enough rent to cover expenses and only raise the rent when taxes, water, or heating bills goes up. They keep the rent lower in order to retain nice long term tenants. They also put away a little extra to keep the buildings nice with outside painting, maintenance, and flower planters. Makes the neighborhood look nice.

If God forbid it looks like the Healy Clone has a chance of becoming Mayor the first thing those property owners will do is bring the rent up to the market rate ASAP thinking they may only be able to get a 1% increase in the future. The fool is going to disrupt a good thing that many tenants (and landlords) have now.

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Yes...

It destroys housing stock and in the end, doesn't bring down housing costs. You get similar disastrous results when you put price controls on food, fuel, or any other commodity or service.

Bill will argue that there will be allowance (2% increase) to allow a landlord to do maintenance.... If it can be justified. Of course a landlord would need lawyers and accountants, complete with open tax ledgers in order to justify an increase.

Just what every guy on the planet wants to deal with.. an entrenched bureaucracy that has no financial stake in your property, but yet can dictate what your prices should be.

Years back during the Schundler admin, decontrol of long vacant buildings was done. I had a list (might still have it somewhere) of the buildings that were on the de-control list. The day after that law passed, a number of those buildings were sold / bought / and renovated. I was vying for two of them (near or on Montgomery.. not downtown) as they were multi-unit buildings and had been vacant for a very long time.

No dice.. deeper pockets snapped them up even before I could get an agent to show them to me. I watched them get renovated and rented by others.

Hasn't rent controlled already been proven the world over to be responsible for dilapidated cities (Mumbai comes to mind)? Doesn't it cause landords to stop spending on the upkeep of their building? I am surprised anyone would propose this in 2017.

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I made that point to him... He just referred me to his 'white paper' on rent control.

It would also help to not have hit property owners with 85% in tax increases and 45% sewer rate increases...

I is wrong to say we did not receive a tax increase. We did, Fulop took away $31.5 million in MUA money that should have been returned to water users. Furthermore, there are more water increases on the horizon.

If he want's to solve the housing crisis it's easy, get rid of R-1 zoning. The housing problem is primarily a zoning problem. Instead of 2 Bayonne boxes getting built replacing a teardown on a double lot as is happening all over town, creating up to 3 new homes depending on what was torn down, you could build 12-20 units and still be under 6 floors just like so many existing legacy buildings scattered in R-1 land.

But no, he's buying into the class warfare classic "all landlords are rich!! Lets make it THEIR problem!!" Many landlords like MDM and me are small businesspeople who invested their savings and borrowed to create a business like any other. We're providing a service, and saving old houses.

How does Billy boy justify his tenure as the chief legal advisor and confidant to Healy? Was he advising Healy for all 10 years where we saw almost a 100% raise in city taxes? The Healy record is pitiful and I just cannot grasp how he can say he isn't responsible as chief counsel to the mayor.

I got this from Bill:


Take a look at the white paper on rent control. We are not advocating for the exact type of rent control that applies to 5 united and up to be applied to 4 and below but most residents live in buildings with less than 5 units and they are seeing double digit rent increase regularly and I've seen up to 25% in one year and 50% over 2 years. Some level of rent stabilization is needed and they're not advocating for specific number until we have community input from renters and landlords alike as well as experts. We are aware and our white paper talks of some of the of negative consequences of rent control. Listing rent increases to CPI sometimes leads to 0 or 1 % increase. Some town allow a minimum increase and I think we should like at allowing a base rent increase to enable repairs, maybe 2%. An audit is needed because we don't know how many rent controlled units there are in Jersey City or how many units are supposed to be restricted in what they can charge and what income restrictions are due to previous subsidies. In other words there are units in Jersey City that received subsidies so that the landlord would only charge a certain rent and allow only certain income people to rent but that are not following the guidelines.

As our campaign grows, we will issue detailed policy statements on a number of issues, including those below. My goal is to create a city government that can set the stage for residents to have the best life possible. In order for that to occur, we must provide for a safe environment, keep the cost of living affordable, and ensure that our surroundings are as attractive as possible, whether it be by planting new trees or keeping our streets clean.

Here are the highlights of my agenda:

Toward a real meritocracy ? great people running the city you love
Taxpayer focused budgeting

A commitment to community policing

Getting the basics right: top notch city services

World class parks

Economic development that respects and includes everyone

Making Jersey City affordable

Transparency-opening the windows of government

Landmarks-staying connected to our past

Recreation-expanding opportunities and a fuller life

http://www.mats4mayor.com/#/issues

Our Team
http://www.mats4mayor.com/#/bios

"undertake an affordable housing audit and revise our rent control laws to encompass more people and units that are currently exempt from such restrictions."


Christ... if this guy want to expand one of the most destructive policies ever to be inflicted on an urban center (other than carpet bombing), I might actually contribute to Fulop's campaign.