Could the historic rent freeze mean poorer living conditions for New Yorkers?

More than 1 million New Yorkers living in rent-stabilized apartments will see no increase in their rent for the next two years after the Rent Guidelines Board approved a historic rent freeze Thursday night. But landlords warn this could lead to forced maintenance cuts. The board voted overwhelmingly to freeze rents on both one- and two-year lease renewals, marking the first time two-year leases have received a rent freeze. Mayor Zohran Mamdani called the decision a historic victory for working New Yorkers. Supporters erupted in celebration following the vote, saying the freeze will provide much-needed financial relief as many families continue to struggle with the high cost of living. But the decision drew sharp criticism from many small property owners, who say the freeze will make it even more difficult to cover rising operating and maintenance costs. Read more here: https://bronx.news12.com/rent-guideli... » Subscribe to News 12: https://bit.ly/4dyeWzd About News 12: News 12 is the exclusive 24-hour local news service dedicated to bringing you the best local news and information about your neighborhoods. Available to subscribers of Optimum (Ch. 12), Xfinity (Ch. 127), Spectrum (Ch. 12), and Fios (Ch. 529), News 12 provides 24-hour access to local breaking news, traffic, weather, sports, and more. Connect with News 12: Where to Watch News 12: https://bit.ly/3Var02B Visit the News 12 Website: https://bit.ly/44CsG89 Find News 12 on Facebook: https://bit.ly/4agiXWl Follow News 12 on Instagram: https://bit.ly/44E6SJw Follow News 12 on X (formerly Twitter): https://bit.ly/4dyezVl #nyc #zohranmamdani #rent #breakingnews