Rent Guidelines Board

The New York City Rent Guidelines Board is a housing board responsible for setting rent adjustments for rent-stabilized apartments in the city. Recently, the board made a significant decision, voting 7-1 to freeze rent increases for approximately one million rent-stabilized apartments. This decision applies to both one-year and two-year leases, effective from October, and represents a major win for Mayor Zohran Mamdani, who had campaigned on a promise to freeze rents. The freeze offers relief to tenants in over 1 million apartments, which constitute more than 40% of the city's housing stock. The board's vote, which occurred with hundreds of tenants present, highlights its current relevance in addressing housing affordability and tenant protections in New York City.