NYC Rent Guidelines Board to vote possible rent freeze, rally planned
NEW YORK CITY (WABC) -- New York City's Rent Guidelines Board will vote Thursday on whether to freeze rents for nearly 1 million rent-stabilized apartments.
It's a promise that mayoral candidate Zohran Mamdani made during his campaign, but landlords say a rent freeze would hurt their ability to maintain buildings.
Later Thursday, the Rent Guidelines Board will hold its final vote and decide whether rents will increase for more than 1 million rent-stabilized apartments across New York City.
The board is considering whether to raise rents or freeze them. Renters could see increases ranging from 0% to 2% on one-year leases and 0% to 4% on two-year leases. A rent freeze remains on the table and is supported by Mamdani.
The vote comes as the city continues to face an affordability crisis. New Yorkers have been squeezed by rising living costs, while landlords say the cost of maintaining buildings has also increased. Landlord groups argue that a rent freeze could make it more difficult to keep properties in good condition.
The final vote will take place Thursday night at El Museo del Barrio in East Harlem. Tenant leaders and housing advocacy groups are expected to rally ahead of the meeting. The Rent Guidelines Board consists of nine members, including six appointed by the mayor.
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