New York City has faced numerous crises and has emerged resilient. With Zohran Mamdani likely to take office, the focus shifts to how he will tackle major issues, especially rent stabilization. His primary campaign promise to freeze rents may impact the rental market significantly since rent-stabilized buildings constitute half of the city's rentals. While Mamdani's control over rent is indirect, his appointed Rent Guidelines Board will have to navigate complex decisions, particularly since many landlords may already be struggling due to previous rent policies.
Mamdani's No. 1 campaign promise was to freeze rents, specifically for rent-stabilized units that make up half the rental market.
The mayor’s power over rent control is limited, but the decisions of his Rent Guidelines Board appointees will be critical for the rental housing market.
Collection
[
|
...
]