New York City’s Rent Guidelines Board will cast a preliminary vote to freeze or hike rent rates on one- and two-year leases Thursday evening.
The board will conduct a final vote in June.
Mayor Zohran Mamdani ran on a campaign promise to freeze the rent, and back in February appointed six of the nine Rent Guidelines Board members.
According to a 2025 city report, there are 1 million rent-stabilized apartments across the five boroughs that house more than 2 million people.
“The affordability crisis is affecting everybody”
More than 100 renters gathered in Queens, where the vote is being held, waving signs and chanting for a rent freeze. They say a rent increase will only line the pockets of landlords, instead of going toward needed building repairs and improvements.
Advocates argue that affordability is critical to keep the city running.
“Right now, the affordability crisis is affecting everybody, and rent is the number one issue, so if the teachers, the bus drivers, the nurses, the people who make the city what it is can’t afford to live here, then what are we doing?” said Sumathy Kumar, director of the New York State Tenant Bloc.
Landlords say rent freeze not warranted
Some landlords, however, argue that operating costs are going up. Kenny Burgos, CEO of the New York Apartment Association, said nothing in available data proves a rent freeze is warranted.
“On the backdrop of double-digit increases of insurance, in property tax, increases in water, fuel, labor, you name it, putting a 0% increase only threatens to add more apartments,” he said. “You are subjecting more and more tenants to bankrupted housing.”
Stay with CBS News New York for the latest on this developing story.