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New York City’s roughly one million rent-stabilized apartments could see their rents frozen for the first time since 2020. On May 7, 2026, the New York City Rent Guidelines Board cast a preliminary vote approving a range of 0 to 2 percent for one-year leases and 0 to 4 percent for two-year leases, leaving a full freeze on the table.1 A zero percent outcome would be the first rent freeze in six years and the first ever 0 percent guideline for a two-year lease.   The vote reflects a shift on the nine-member board, six of whose members were appointed earlier this year by Mayor Zohran Mamdani, who campaigned on a promise to freeze the rent. Tenant advocates, who rallied outside the Long Island City hearing, argue that housing costs are already unaffordable, while landlords and small-property owners counter that increases are needed to keep pace with rising insurance, fuel, and maintenance costs.1 The board will hold public hearings in June before a binding final vote on June 25, 2026, and any change will take effect for leases beginning on or after October 1, 2026.1   1NYC Rent Guidelines Board Proposes Potential Increases for Rent-Stabilized Apartments, CBS News New York (May 8, 2026). Accessed June 17, 2026, https://www.cbsnews.com/newyork/news/nyc-rent-guidelines-board-preliminary-vote-freeze-hike-rents/