NEW YORK (Diya TV) — New York City will freeze rents for about one million rent-stabilized apartments after the city’s Rent Guidelines Board approved the measure in a 7-1 vote. The decision marks a major policy win for Mayor Zohran Mamdani and fulfills one of his key campaign promises.

The rent freeze will apply to one-year and two-year lease renewals signed between Oct. 1, 2026, and Sept. 30, 2027. It also marks the first time the board has frozen rents for longer-term leases. City officials and tenant advocates say the move will help families manage rising living costs. However, many landlords argue that the decision will increase financial pressure on property owners.

Mayor Mamdani welcomed the vote and called it a historic victory for working New Yorkers. He said many families continue to struggle with higher prices for groceries, transportation, and other daily needs. Therefore, he argued that freezing rent will give tenants much-needed financial relief.

Tenant groups celebrated the outcome shortly after the vote. Hundreds of supporters gathered outside El Museo del Barrio in Harlem before the meeting. They carried “Rent Freeze” signs while a live band performed nearby. Organizers also handed out water and ice pops. After the board approved the measure, the crowd cheered and sang together to celebrate the decision.

Sarah Delany, a Bronx resident and rent-stabilized tenant, praised the vote. She said the freeze would help families pay for everyday necessities. She also credited Mamdani for keeping his campaign promise and called the decision a historic moment for tenants across the city.

The vote gives Mamdani one of the earliest and most significant policy victories of his administration. Earlier this year, he appointed six new members to the Rent Guidelines Board. Those appointments created a majority that supports his broader housing agenda.

Even so, the decision drew strong criticism from landlord groups. The Rent Guidelines Board operates independently and reviews economic data before setting annual rent adjustments. However, several property owners argued that politics influenced this year’s outcome.

Hours before the vote, landlord representative Christina Smyth resigned from the board. She said the process had become too political and warned that many building owners could not absorb rising operating costs under a rent freeze.

Property owners also say insurance premiums, property taxes, labor expenses, and repair costs continue to increase. As a result, they believe the freeze could make it harder to maintain buildings and complete needed renovations. Some landlord organizations have also said they are reviewing possible legal options following the board’s decision.

Housing experts say both tenants and landlords face serious financial challenges. Jake Krimmel, a senior economist at Realtor.com, said buildings need enough revenue to cover growing expenses. He noted that operating costs continue to rise faster than many owners and renters can handle. Therefore, he believes city leaders should also address the financial pressures facing property owners.

The rent freeze affects only rent-stabilized apartments. Those homes make up roughly half of New York City’s rental housing stock. Meanwhile, market-rate rents remain much higher. According to a report from Miller Samuel Inc. and Douglas Elliman, the median Manhattan lease reached $4,695 in January, making it the third-highest level on record.

Board member Arpit Gupta, who joined the panel under former Mayor Eric Adams, also raised concerns about vacant apartments. He said more than 57,000 rent-stabilized units sat empty last year, compared with about 49,000 in 2024. Many owners say renovation costs have become too expensive, making it difficult to return those apartments to the rental market.