NYC Rent Guidelines Board votes to consider rent freeze
The panel voted to consider a rent increase of 0% - 2% for one-year leases and 0% - 4% for two-year leases.
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New York City's Rent Guidelines Board voted to consider a rent freeze.
The panel voted to consider a rent increase of 0% - 2% for one-year leases and 0% - 4% for two-year leases.
It's the first time the board has weighed a two-year rent freeze.
If the RGB votes to freeze rent, it would deliver a campaign promise from Mayor Zohran Mamdani.
“New Yorkers are being crushed by the cost of living, and they need real relief. I’m encouraged to see the Board taking seriously the data around affordability, operating expenses, and the pressures facing both tenants and small property owners as it sets this preliminary range,” Mandani wrote in a statement.
The mayor’s statement continued, “As the RGB begins its public hearings, tenants, owners, and New Yorkers from every borough should make their voices heard and speak directly to what this housing crisis looks like in their lives. I’m confident the Board will weigh those perspectives carefully and arrive at a decision later this summer that reflects the urgency of this moment.”
