Protecting our Renters
Highland Park, at more than 60 percent rental, is certainly not immune to the ebbs and flows of the housing market. In the last two years, average rents in NJ have increased by more than 30 percent. That, in our opinion, is unconscionable.
Fortunately, HP was out in front. Before we saw the statewide rent increases that are causing housing instability everywhere, Elsie and Matthew worked on crafting a rent control ordinance that would protect renters, even as they enter a new lease, and shield renters from any passed-down rent increases due to supply chain issues, management and materials costs.
Highland Park's allowable rent increase for 2023 is 4.475 percent. That means you can remain in your home without being price-gouged out. This is happening in every town across the state and surprisingly, HP is only a handful of municipalities across the state to implement rent control.
It is worth noting that Matthew Hersh is one of the state's leading affordable housing advocates working in Trenton on legislation that protects homeowners and renters throughout the state. He has actively sought the state to take the lead on rent control, so towns can pass their own rules with real guidance from the state.
Read more about the Borough's rent control law here: https://www.hpboro.com/residents/rent-control