NEW YORK (VINnews) New York City’s Rent Guidelines Board voted Thursday to freeze rents for approximately 1 million rent-stabilized apartments, delivering a major political victory for Mayor Zohran Mamdani and fulfilling a central campaign promise to hold the line on housing costs. The action affects about 2 million New Yorkers who live in rent-stabilized housing.

The freeze applies to one- and two-year lease renewals that begin between Oct. 1, 2026, and Sept. 30, 2027, meaning tenants signing renewal leases during that period will not see a rent increase. Renewals that begin before Oct. 1 remain subject to the current rent guidelines.

The vote came despite strong opposition from landlord groups, which argued that rising property taxes, insurance premiums, utility costs and maintenance expenses make a rent freeze financially unsustainable. Several industry groups said they are considering legal action.

Hours before the vote, Christina Smyth, one of the board’s landlord representatives, resigned, saying the outcome had been predetermined. Her departure did not affect the board’s ability to proceed with the vote.

Mamdani made a rent freeze one of the defining issues of his mayoral campaign, arguing it would provide relief to tenants struggling with New York City’s high cost of living. Supporters called Thursday’s decision a significant step toward improving housing affordability, while opponents warned it could strain building finances and reduce investment in maintenance.