The majority of members on a New York City panel voted on Thursday to approve Mayor Zohran Mamdani‘s campaign promise to freeze rent for nearly 1 million rent-stabilized apartments, accounting for more than 40% of all apartments across the city’s five boroughs.

The Rent Guidelines Board passed the proposal in a 7-1 vote. The rent freeze will pause rent increases on both one-year and two-year leases, providing tenants financial stability but also making it harder for landlords to maintain their buildings.