CITYWIDE — ON THURSDAY, THE Rent Guidelines Board voted to freeze rent for over 2 million New York City residents in rent stabilized apartments.
Tenants and tenant advocates celebrated after the board voted 7-1 to freeze the rent for both one- and two-year leases renewing between Oct. 1 and Sept. 30, 2027. The vote fulfills one of the campaign promises of Mayor Zohran Mamdani, who appointed six of the board’s nine members.
“This is the relief that working people across our city deserve,” Mamdani said in a statement.
Shortly before the vote, former Mayor Eric Adams-appointed board member and landlord advocate Christina Smyth resigned from the RGB, citing rising operating costs for landlords and calling the process “theater,” according to Gothamist. Board Chair Chantella Mitchell defended RGB’s integrity and independence.
While landlord advocates claim that a freeze will impact living conditions for tenants, a new report from nonprofit Robin Hood found that rent stabilized apartments are responsible for keeping 140,000 New Yorkers out of poverty each year.
This will be the first time in New York City history that multiple-year leases will see a rent freeze.
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