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Multi-Family and Apartment Investing

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Lloyd Spencer
  • Investor
  • New York City, NY
14
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43
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Does North Bergen have vacancy decontrol?

Lloyd Spencer
  • Investor
  • New York City, NY
Posted Apr 30 2024, 13:34

The ordinance, which is a scan of a 1996 document appears to be silent on the subject of what happens when a unit is or becomes vacant.  Does anyone have first hand experience of this?  In practical terms would the city compare a new tenant's rent to a prior tenants rent?  

Separately, the ordinance says there can be a 50% rent increase if $8k is spent. Does anyone have first hand experience with this?

Thanks!