New York City Hall announced last Thursday (26) the freezing of rents for around 1 million apartments regulated by the city. The measure, approved by the Rent Guidelines Board, fulfills a campaign promise from Mayor Zohran Mamdani, a self-declared socialist. In the collegiate, there were seven votes in favor against one against.
The decision applies to one- and two-year contracts and prevents any adjustments to so-called rent-stabilized apartments, a modality that houses approximately a quarter of the New York population. The measure will be valid for new contracts signed from October onwards.
Mamdani was elected on a platform focused on the cost of living, expanding social rights and containing the housing crisis. Since taking office, the mayor had been pressuring the council responsible for defining the annual adjustments.
Commenting on the approval, Mamdani called the decision “a historic victory for New York City tenants.” According to the authority, the objective is to guarantee permanence for families pressured by the widespread rise in housing costs.
“I thank council members for their careful consideration of data, including tenants’ ability to pay, cost of living and building operating costs. I will continue working to make the city more affordable by building and preserving affordable housing, reducing building operating costs such as insurance, and ensuring tenants know their rights,” Mamdani said.
Before the vote, Christina Smyth — appointed to the Council that approved the decision by the previous mayor, Eric Adams — resigned from her position. She claims that the process would not have been legal. “This reformulated council was necessary to implement the rent freeze,” he stated, referring to the fact that the majority of current members were appointed by the Democratic president.
Current Board Chair Chantella Mitchell defended the process, saying in a statement: “I was surprised to receive Christina’s resignation this morning. I want to take this opportunity to reaffirm the independence with which this year’s Board members served, as well as the rigor and integrity demonstrated by the RGB team in preparing and presenting the data.”
Despite the political victory, representatives of the real estate sector are already signaling that they should take the decision to court.
Source: www.brasildefato.com.br
