Overview
- At a recent Rent Guidelines Board meeting, landlord representatives said thousands of rent‑stabilized buildings face severe financial strain and some owners are selling at discounts as steep as 90 percent.
- Industry speakers blamed higher insurance and maintenance costs and chronic rent nonpayment, and they urged the board to approve increases rather than a freeze.
- The warnings centered on the Bronx, with Tremont, Hunts Point, and Fordham cited as areas with mounting losses and worsening building conditions.
- Mayor Zohran Mamdani has backed a rent freeze, and tenant advocates say protections are needed as many renters struggle to afford housing.
- A preliminary vote on rent adjustments is expected in early May, following the board’s March report showing a 6.2 percent citywide income gain that owner groups argue hides deep losses in some buildings.