Rent Controlled

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Double Edged Sword.
I had a renter come to an open house recently. (Not really a surprise, since many renters are looking to own.) The problem was the renter lives in an 800 sqft 2 bedroom, 1 bath and is paying $1200 per month in uptown Hoboken. The renter wanted some outdoor space.
Rent control is a great thing for those that needed it, for the rest of us, it is a perk. This renter can’t leave. The deal is too good. 50% below market housing. If you find yourself in this fortunate position, just hunker down. You’re trapped.

Trapped to buy a vacation home on the Jersey Shore, a realtor I know, who lives in rent control, did just that.

Hoboken Condos 2007
Condos Available 393
avg days on market 96
median days on market 69

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