Hoboken 3rd Ward Councilman Mike Russo and Mayor Ravi Bhalla have both issued statements praising the New Jersey Attorney General’s antitrust lawsuit against RealPage and 10 large landlords, including at least two that do business in Hoboken.
By John Heinis/Hudson County View
“As the lawsuit alleges, RealPage and similar companies—including AvalonBay, which operates in Hoboken—use pay-to-play algorithms that allow landlords to securely share sensitive rent data, allowing them to hike prices in a coordinated manner,” Russo, a mayoral candidate, said in a statement.
“Back when we as Americans used to care about monopoly power and antitrust laws, this was called price collusion, and it is textbook-level illegal. We have so many landlords of every size in Hoboken who operate within the four corners of the law to try and make ends meet, so let’s be absolutely clear: landlords who break the law should not be welcome here.”
Russo further stated that Zillow says the median rent in Hoboken is now just short of $4,000 a month, which is exacerbated by RealPage’s “secret subscription services to facilitate shadowy price fixing” and thank AG Matt Platkin for starting litigation, hoping it prevails.
He also emphasized that as a lifelong resident of the Mile Square City, it has always been a “tale of two cities” between the Hoboken Housing Authority and the rest of the city.
AvalonBay is a large landlord in Hoboken that is suing the city and their rent leveling board over their rent control exemption.
They are also being sued by five tenants citing rent increases approaching 30 percent, with elected officials speaking up over similar tactics by the Bozzuto Group. Those are two of the 10 defendants named in the case.
“I commend Attorney General Matt Platkin for standing up for Hoboken residents and renters across New Jersey by pursuing legal action against RealPage and irresponsible landlords,” Bhalla, a state Assembly candidate in the 32nd Legislative District, said in his own statement.
“The alleged unlawful collusion to drive up rents not only burdens our community but deepens the housing crisis we are already working hard to address. This lawsuit is a critical step toward protecting our residents and ensuring that the housing market in New Jersey remains transparent, fair, and affordable.”
Oh the Irony
Russo doesn’t disappoint channeling his old man’s insincerity and hypocrisy
The Russos have all gotten apartments in Church Towers despite a decades old wait list and truly needed residents from the projects and displaced Joe Barry/Ironstate/ Applied Housing tenants
Usually its a Russo running from the AG
Pay your debts to Hoboken and the US Attorney Russo family heirs !
Don’t be jealous of the sweetheart Michael Russo subsidized housing, 3-Bedroom $800 a month deal. That 300K corruption bill from the Feds died with Pa Russo.
It’s election season, so while Russo laughs at others carrying his bill, he’s doing that dirty old Soprano State game virtue signaling. Laughing all the way to the bank, as usual!
Bhalla and Russo working toghther makes you go hmmmmmm