Posted on: May 01, 2026 03:36 PM

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Met and listened but still no cigar for rent freeze in NYC

Last Thursday, the NYC Rent Guideline Board concluded the meeting to decide on the next rent hike for rent stabilized tenants affecting over one million. The nine members of six appointed by the current Mayor heard from tenants, landlords, developers, property managers and others. Now it's time to make a decision and that will be out in two weeks. Most insiders say rent will go up to keep the tax ratio for properties. The Mayor's campaign of freezing rent is a pipe dream after proposing raising property taxes if the City Council votes on it in favor.

As usual, tenants want less rent especially in the public housing since other expenses are already sky high from McDonald's to Apple phone app usage costs.

Meanwhile landlords in rent stabilized are still faced with loss due to the maximum cap ratio per unit.

The last rent increase was 3% in 2025 for one year lease and 4.5% for two year leases.

What we all know by now it's the developers that make the decision and not the Mayor or Governor since their contribution keeps them under their control.