Rent Guidelines Board votes 7-1 for rent freeze on all leases
The NYS Tenant Bloc says the rent freeze will protect 2.4 million rent-stabilized tenants.
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New York City tenants celebrate historic victory after the Rent Guidelines Board voted 7-1 to freeze the rent on both one- and two-year leases.
This is the first time in history the RGB has adopted a rent freeze on multiple year leases.
The NYS Tenant Bloc says the rent freeze will protect 2.4 million rent-stabilized tenants.
The freeze encompasses leases that begin on or after Oct. 1, 2026, and on or before Sept. 30, 2027.
The NYS Tenant Bloc says the RGB’s decision to freeze the rent for one- and two-year leases validates the harsh economic realities facing many tenants, particularly as Trump’s cuts to critical benefits will roll out in the next two years.
Mayor Zohran Mamdani released the following statement on the RGB's final vote:
“This is a historic victory for New York City tenants. After reviewing the data and hearing from New Yorkers across the city, the independent RGB has delivered a freeze on one-year leases, and the first-ever freeze on two- year leases in our city’s history. This is the relief that working people across our city deserve.
I’m grateful for the board members’ thoughtful consideration of the data, including tenants’ ability to pay, cost of living and building operating costs. I’ll continue working to deliver a more affordable city by building and preserving affordable housing, lowering building operating costs like insurance, and ensuring tenants know their rights.”
Small Property Owners of New York released a statement reacting to the vote:
“This vote was an absolute farce. The RGB may have technically met its quorum requirements, but proceeding with one of the most consequential rent votes in recent times with half of its owner representation undermined the balance and fairness of this process. The vote should’ve been postponed until a new owner representative could be appointed. The resignation of the only principled RGB member and the board’s only meaningful advocate for small owners validated our greatest fear, that the majority Mamdani-appointed RGB would cave to the political demands of City Hall. On top of being an owner voice short, this is an egregious violation of the RGB’s legal mandate to set rent adjustments based on the math of its own research, not on political influence. There is no practical or legal justification for this outcome."
