New York City's rent board on Thursday approved New York Mayor Zohran Mamdani's proposal for rent-freezes on one-year and two-year leases. File Photo by John Angelillo/UPI | License Photo
June 26 (UPI) -- New York City's rental board has approved Mayor Zohran Mamdani's two-year rent-freeze proposal for nearly 1 million rent-stabilized apartments, fulfilling a major campaign promise.
New York City's Rent Guidelines Board voted 7-1 to set a 0% increase for rent-stabilized one-year and two-year leases commencing on or after Oct. 1, and on or before Sept. 30, 2027.
Cheers erupted from the spectators assembled as it was announced that the motion passed.
"This is a historic victory for New York City tenants," Mamdani said in a statement following the vote.
