Three Democratic candidates for mayor of New York City, State Assemblymember Zohran Mamdani, state Sen. Jessica Ramos, and former state Assemblymember Michael Blake, are calling for a rent freeze for tenants in the city’s roughly 1 million rent-stabilized apartments. They have pledged to use their influence over the Rent Guidelines Board, which determines annual rent hikes for regulated apartments, to halt any increases if elected. This proposal goes against the recent trend of annual rent increases under Mayor Eric Adams.
The candidates argue that freezing rents is necessary to support tenants who are struggling with housing costs, while landlord groups say they need to raise rents to cover expenses and turn a profit. The candidates are also advocating for property tax reform to help landlords lower costs.
During a recent forum organized by housing advocacy groups, the three candidates criticized Adams for supporting rent increases, while other candidates stopped short of calling for a rent freeze but emphasized the importance of putting renters first and ensuring affordable, quality housing.
The Rent Guidelines Board has only frozen rents three times in its history, all under former Mayor Bill de Blasio. Rent-stabilized apartments are mostly occupied by tenants with lower incomes, and freezing rents would help alleviate the financial burden on these households.
Overall, the candidates’ proposals highlight the ongoing debate over rent stabilization and affordability in New York City, with differing opinions on how to best support both tenants and landlords.
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