Rent Control Update: Borough of Eatontown Adopts Permanent Vacancy Decontrol
June 29, 2015
In an effort led by Eatontown Mayor Dennis Connelly to improve housing conditions in the Borough of Eatontown, the Council on Wednesday voted 4-2 to amend the rent control ordinance to allow for permanent vacancy decontrol. Under permanent vacancy decontrol, residents who currently are covered under the rent control ordinance would continue to be covered as long as they choose to remain in their apartments. Following the passage of this ordinance markets would determine rents for vacant apartments and subsequent lease renewals of those leases. NJAA advocates for permanent vacancy as it gradually phases out rent control, while continuing protections for existing residents, while encouraging investment, and improving the local property tax base. NJAA worked closely with the mayor and council to educate lawmakers as to the benefits of rent control.