Mayor Zohran Mamdani’s proposal for a two-year freeze on rent increases for the city’s one million rent-stabilized apartments has ignited a fierce debate over housing policy, with landlord groups warning of devastating consequences and tenant advocates celebrating what they call a long-overdue intervention.

The proposal, outlined in a letter to the Rent Guidelines Board released Thursday, would cap increases at zero percent for both one-year and two-year lease renewals through 2028. If adopted, it would be the first multi-year freeze since 2015 and 2016, when the board approved back-to-back freezes that landlords continue to cite as damaging.

“Working families in this city are stretched to the breaking point,” Mamdani said at a press conference announcing the proposal. “A rent freeze gives them breathing room while we work on longer-term solutions to the housing crisis.”

The Rent Guidelines Board, an appointed body that sets annual limits on rent increases for stabilized units, is not bound by the mayor’s recommendation. But Mamdani’s appointments give him effective control of the nine-member board, suggesting the freeze has a realistic path to approval.

Landlord groups responded with alarm. The Rent Stabilization Association, which represents owners of stabilized buildings, issued a statement calling the proposal “reckless and counterproductive.”

“Operating costs have risen 8 percent this year alone,” said RSA President Joseph Strasburg. “Insurance, property taxes, labor, fuel. A freeze means building owners cannot cover basic expenses. The inevitable result is deferred maintenance and deteriorating buildings.”

Strasburg pointed to the 2015-2016 freeze as evidence that the policy backfires. His organization’s data shows that building maintenance spending dropped 12 percent during those years, with the effects visible in increased complaints about heating failures and water damage.

Tenant advocates disputed that analysis, arguing that landlord spending decisions reflect priorities rather than necessity.

“Landlords always claim they cannot afford basic upkeep,” said Cea Weaver, campaign coordinator for Housing Justice for All. “Meanwhile, their buildings generate substantial profits. The freeze forces them to tighten their belts the way tenants have been doing for years.”

Weaver noted that the median rent burden for New York City renters exceeds 30 percent of income, with many low-income households paying more than half their earnings for housing. Even modest increases can push families into financial distress.

The proposal would affect approximately one million apartments, roughly half of the city’s rental stock. Tenants in these units receive protection from market-rate increases, though landlords can petition for additional increases to cover major capital improvements.

Market-rate tenants, who already face no limits on rent increases, would see no direct impact from the proposal. But some economists argue that freezing stabilized rents indirectly pressures the market-rate sector, as landlords unable to raise rents on stabilized units seek higher returns elsewhere.

The politics of rent control have shifted significantly since Mamdani’s election. The Democratic Socialist ran explicitly on tenant-first policies, and his victory represented a mandate for aggressive action on housing. Traditional real estate industry influence at City Hall has diminished, at least temporarily.

“Landlords are not used to being told no,” said City Council Member Tiffany Caban, a Mamdani ally. “They are going to have to adjust to a city government that prioritizes tenants.”

The Rent Guidelines Board will hold public hearings in April and May before voting on increases in June. Both tenant and landlord groups are mobilizing for what promises to be contentious proceedings.

Real estate industry sources suggest that legal challenges may follow if the board approves a multi-year freeze. Past attempts to invalidate rent regulation have failed, but landlord attorneys believe recent Supreme Court decisions on property rights create new openings.

For the city’s stabilized tenants, the proposal offers hope after years of watching rents climb faster than wages. Patricia Johnson, 68, has lived in her Harlem apartment for 31 years and worries each spring about the board’s decision.

“Every increase is money I do not have,” she said. “A freeze would let me sleep at night. It would let me keep my home.”

The Rent Guidelines Board meets in preliminary session on January 28, with the formal hearing schedule to be announced shortly thereafter. The mayor’s office has indicated that Mamdani may testify personally, an unusual step that would underscore the priority he places on housing policy.

For now, both sides are preparing for a fight.

“This is about the future of New York,” Strasburg said. “If the mayor gets his way, this city will become unlivable, just in a different way than he imagines.”

Weaver offered a different prediction: “If we win this, we prove that tenant power is real. And that changes everything.”