New York City's Rent Guidelines Board (RGB), the body that sets annual limits on rent-stabilised apartments, has voted 7–1 to freeze rents on both one- and two-year leases from October 2026 through September 2027, covering roughly one million regulated units across the city's five boroughs. The decision fulfils a central campaign pledge of Mayor Zohran Mamdani, a democratic socialist who took office earlier this year and reshaped the board by appointing six of its nine members. Landlord groups warn the freeze will reduce investment in maintenance and accelerate deterioration of ageing housing stock, while one board member resigned ahead of the vote, alleging the outcome had been predetermined by the mayor.