Episode Details

Rent-stabilized tenants across the city are celebrating a major win: the Rent Guidelines Board just voted 7-1 to freeze rent increases for one- and two-year leases, offering real relief to about a million apartments. This key promise from Mayor Mamdani’s administration is already paying off for savvy tenants who’ve been strategically planning their renewals — one longtime resident even locked in a one-year lease last year and is now poised to sign a two-year lease with zero increase. While the freeze doesn’t apply to leases starting before October 1, all renewals from October 2024 through September 2025 will stay flat. Tenants also have legal recourse if landlords try to raise rent illegally — including the possibility of triple damages. Important note: this only affects rent-stabilized units; market-rate tenants aren’t directly impacted, though pricing in mixed buildings may shift. If you’re unsure if your unit is stabilized, request your rent history from the state Division of Housing and Community Renewal.

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