Butch: Yes vote on referendum protects renters
"Educate yourself on the referendum, and please don't fall for the fear mongering"
To the Editor, Asbury Park Sun:
On April 20th, voters in Asbury Park will have an opportunity to weigh in on rent control. The Asbury Park Affordable Housing Coalition created an ordinance in consultation with lawyers from Fair Share Housing Center. The City of Asbury Park recently passed an ordinance that was offered as a compromise between advocates, landlords and landlord associations. Essentially, it codifies the profits of landlords and fails to stabilize rents. A YES vote on the referendum protects renters.
The key word in each ordinance is “greater” or “lesser”. The Council’s ordinance favors landlords by allowing them to charge the consumer price index or 3.5%, whichever is GREATER. The referendum’s ordinance is the consumer price index or 4%, whichever is LESSER, protecting tenants while taking the economy into account to be fair to landlords.
After 3 years, under the projected consumer price index of 2%, a YES vote on the referendum could save tenants over $1000 a year for a one-bedroom. An average two-bedroom rental could be $1300 less a year in the referendum’s ordinance.
That’s what is at stake in this election. A tenant’s ability to count on fair rent increases based on economic indicators or a landlord’s ability to count on 3.5% percent a year, regardless.
Again, educate yourself on the referendum, and please don’t fall for the fear mongering. Deceptive mailers have been sent out claiming property taxes will skyrocket. There is no justification for those claims. Taxes do not skyrocket because a landlord only gets a 2% increase per year rather than a 3.5% increase.
The Asbury Park Affordable Housing Coalition has posted the ordinance at http://www.apwantsrentcontrol.com/wp-content/uploads/2021/01/EXHIBIT-A-Rent-Control.pdf.
The City of Asbury Park has put together a comparison of the ordinances at https://www.cityofasburypark.com/DocumentCenter/View/2179/Rent-Leving-Comparison.
Anyone can feel free to call me at 732 982-6942 and I’ll answer your questions or find someone who can.
Vote YES for rent stabilization. Vote YES on April 20th to help keep our friends and neighbors in Asbury Park. Vote NO to protect the excessive profits of landlords.
Kerry Margaret Butch
Asbury Park
[This letter represents the opinion of its writer and is not representative of any opinion of the Asbury Park Sun staff. All readers are welcome to submit Letters to the Editor to news@asburyparksun.com for our consideration. For guidelines on letter-writing and submission, click here.]
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