New York Approves Two-Year Rent Freeze on One Million Regulated Apartments

New York's Rent Guidelines Board approved a two-year rent freeze for one million rent-regulated apartments in the city, voting 7 to 1. The decision is an unprecedented and major early political win for Mayor Zohran Mamdani, who is now delivering on a central campaign promise and strengthening his position.

Mamdani appointed six of the board's nine members, which helped secure the outcome. Property owners and their organizations sharply criticized the move, arguing that freezing rents would make it harder for landlords to cover maintenance and insurance costs.

Hours before the vote, the board's landlord representative, attorney Christina Smith, resigned. She said the body had crossed a legal line by advancing the measure despite the economic data.

The decision now sets in motion a two-year freeze for the regulated housing stock, with the city facing the fallout from a policy that is likely to remain politically contentious.