NYC's rent freeze is finally becoming a reality. Here are 3 things renters should know.

New York City's rent freeze for stabilized apartments, a key campaign promise by Mayor Zohran Mamdani, will take effect in October 2026. The policy, approved by the Rent Guidelines Board, aims to freeze rents for one- and two-year leases in roughly 1 million units until September 2027. Critics warn of potential declines in apartment quality and rising market-rate rents.