Mamdani’s Promised Rent Freeze Approved in New York: What to Know
“Everything since has been theater,” Smyth added, citing hearings, public comments, and the data release.
Speaking to cable news network News 12, Mamdani echoed that the board acts independently and added that he “look[s] forward to the outcome, the decision that they will make.”
What are landlords’ issues with rent freezes?
Mamdani himself has pointed out that rent freezes aren’t new. During the tenure of former Mayor de Blasio, the RGB in 2015 voted for a freeze on one-year leases in these rent-stabilized apartments, the first since the RGB’s establishment. These were followed by rent freezes in 2016, 2020, and the first half of 2021.
While renters often rejoice at these rent freezes, landlords and property owners often lament them, citing increasing operation and management costs. The RGB’s own research this year found that landlord costs rose by more than 5.3% in the past year.
