Jersey City landlords will have to decide the old fashion way.
The Jersey Council Jersey voted unanimously on Wednesday to stop the use of software leased by him by the owners.
The order, presented by councilor James Solomon, is the first of its kind in Garden State.
The amended order makes a violation of the code by the use of vehicles by software firms for rent such as Realpage or Yardi Systems. Ordinance advocates claim that these funds assist owners and ownership companies for artificially inflation rents and restrictions supply.
Solomon, in a state given to the post, called the movement a “bold attitude” against the collusion.
“With the adoption of this first-in-state legislation, we are pointing out corporate owners: if you are using software as Realpage to coordinate rent growth, you are violating the law and now, tenants and city have the means to keep you responsible,” the state.
Implementation of code violations involves the ability for residents to sue the owners or file complaints to the city for the use of algorithmic lease, according to Solomon.
New ordinance barriers say the mass fails to address the root of the problem – the lack of new housing supply. Others argue that the language of the draft law is too wide and can lead to unnecessary penalties for property owners, the Gothamistic ratio.
Jersey City has a documented affordability problem. City rental prices have increased by 50% since 2015, according to a 2024 report by the Association of the Non -profit Regional Plan. The city was the country’s third most expensive city to rent in April, according to Zumper, immediately after New York City and San Francisco.
The new ordinance offers link the problem, in part, to the use of owners of the vehicle driven by it to collect rents.
These tools, according to the draft law, local prices, supply levels, occupation rates and rental details. Information allows owners of owners to increase profits by choosing the most useful financial prices of rent, rental terms or occupation levels for their buildings.
An investigation by the Propublica of 2022 found evidence of faster price growth in cities where the realpage’s Software was widely adopted by the main asset management firms.
The order comes to the heel of a similar draft law proposed in the fall of 2024, which is currently stuck in the state legislature, Gothamistic reported.
New Jersey Matthew Platkin’s Attorney General filed his lawsuit against 10 of the largest owners and Realpage of New Jersey of New Jersey On the alleged use of software that forced “tens of thousands” New Jersey residents to rent.
“The defenders in this case illegally lined up their pockets at the expense of New Jersey tenants, who fought to pay the increasingly unlicensed level of prices imposed by the cartel,” Plato said in a press release.
Realpage and Yardi could not be reached for comment with the press time.
#Jersey #City #stopped #owners #owners #send #rent #Garden #State
Image Source : nypost.com