The Hoboken City Council will follow Jersey City’s lead to ban rent-setting algorithms like RealPage, with the first reading of an ordinance up for a vote at Wednesday’s meeting.
The ordinance, sponsored by Councilman-at-Large Joe Quintero and 5th Ward Councilman Phil Cohen, will be introduced at the council’s June 4th meeting, at City Hall, 94 Washington St., at 7 p.m.
“We are not going to stand by while algorithms manipulate rental prices and dictate whether Hoboken’s families can afford to live in our city. My administration is taking action to ensure our housing market is fair, transparent, and accessible,” Mayor Ravi Bhalla said in a statement.
“This ordinance is a clear sign that we will not tolerate exploitative rent-setting practices in our community. I encourage the council to consider supporting this ordinance and I look forward to their partnership as we work to protect our renter community from irresponsible landlords.”…