NY rent freeze, this is good policy, right?

quote:

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NYC Rent Guidelines Board approves 2-year rent freeze, fulfilling Mamdani campaign pledge

Tenants in about 1 million rent-stabilized apartments will not see their rents increase for the next two years after New York City’s Rent Guidelines Board approved a first-of-its-kind freeze at an annual hearing Thursday night.

The 7-1 vote marks the first two-year rent freeze in the board’s history and fulfills a key campaign pledge from Mayor Zohran Mamdani, who named six of the board’s nine members.

The decision applies to rent-stabilized apartments in buildings with six or more units built before 1974, as well as apartments in buildings that receive certain tax breaks or government subsidies. The freeze applies to new one- and two-year leases beginning between Oct. 1, 2026, and Sept. 30, 2027.

Hundreds of tenants packed the theater at El Museo del Barrio, singing and chanting about tenant power ahead of the board’s decision. Many in attendance, who had helped propel Mamdani’s successful campaign for mayor, which featured a viral vow to “freeze the rent,” held signs demanding a rent freeze. At least one attendee blew a whistle to punctuate the slogans resonating through the auditorium.

The tension peaked before owner representative Maksim Wynn cast the board's final vote. As he read a lengthy statement saying that policymakers should focus on "reducing expenses rather than raising rent," tenants interrupted with chants and whistles before erupting in cheers when he voted in favor of the freeze.

After the vote, tenants spilled into the street to celebrate.

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