The majority of members on a New York City panel voted on Thursday to approve Mayor Zohran Mamdani‘s campaign promise to freeze rent for nearly 1 million rent-stabilized apartments, accounting for more than 40% of all apartments across the city’s five boroughs.The Rent Guidelines Board passed the proposal in a 7-1 vote. The rent freeze will pause rent increases on both one-year and two-year leases, providing tenants financial stability but also making it harder for landlords to maintain their buildings.The freeze will apply to new leases beginning between Oct. 1 and Sept. 30, 2027. It is the first rent freeze on one-year and two-year leases at the same time. Mamdani praised the board for approving the measure.
“This is a historic victory for New York City tenants,” the mayor said in a statement. “After reviewing the data and hearing from New Yorkers across the city, the independent RGB has delivered a freeze on one-year leases, and the first-ever freeze on two-year leases in our city’s history. This is the relief that working people across our city deserve.”“I’m grateful for the board members’ thoughtful consideration of the data, including tenants’ ability to pay, cost of living and building operating costs,” he added. “I’ll continue working to deliver a more affordable city by building and preserving affordable housing, lowering building operating costs like insurance, and ensuring tenants know their rights.”Though the RGB operates independently from the city’s executive office, Mamdani appointed six members to the nine-member panel that consists of two members representing tenants, two representing landlords, and five representing the general public.Chairwoman Chantella Mitchell, one of the public members, strongly backed the mayor’s promise to freeze rent for New Yorkers and led most of the other members to join her. The sole vote against the measure was cast by public representative Arpit Gupta, who was appointed by former Mayor Eric Adams.Another holdover from Mamdani’s predecessor, landlord representative Christina Smyth, resigned in protest hours before the final vote. She felt the vote was predetermined. In response, Mitchell released a statement saying she wanted to “affirm the independence with which this year’s board members have served.”Landlord lobbying groups, including the Real Estate Board of New York, promptly condemned the move to freeze rent over concerns there would be less money for maintenance and repairs in rent-stabilized apartment buildings.“Tonight’s vote may be politically popular, but it will make New York’s housing crisis worse,” REBNY President James Whelan said.The RGB has voted to freeze the rent on one-year leases in 2015, 2016, 2020, and the first half of 2021. This has never happened with two-year leases in the board’s history.A rent freeze essentially keeps the rental cost at a fixed rate, prohibiting landlords from increasing the rent each year. Rent freezes are often championed by socialists and progressives.Mamdani received a major win on Tuesday when three of his endorsed candidates for New York seats in Congress won their respective primaries. Those candidates were Claire Valdez and Darializa Avila Chevalier, both of whom are backed by the Democratic Socialists of America, and former New York City Comptroller Brad Lander, a progressive Democrat.The mayor said the election results showed voters were done with “status quo politics” and decided to back socialist candidates who he claimed represent the interests of the working people.TRUMP AND GOP FIND MIDTERM MESSAGE AFTER NEW YORK SOCIALIST SWEEPPresident Donald Trump was not a fan of the socialist victories this week. On Thursday, he vowed to thwart their plans, referring to them as communists.“The Communists are finally making their move. I’ve been waiting and preparing for this for a long time,” Trump posted on Truth Social. “It’s easy to be a Communist — All you have to do is say, ‘I’ll give you everything,’ but that means you’re taking it away from others that have earned it. Over thousands of years, that Ideology has not worked once. The game is on. Enjoy watching!”
