From 1 October 2026 New York introduces a freeze on rents for apartments with a regulated rate — about a million of them. The rent will not be raised on either a one-year or a two-year renewal, and a two-year zero is being introduced for the first time.
For a foreign investor the key point is that the measure covers only this regulated stock — older apartments where the city caps rent growth. Free-market condos, which a non-resident usually buys, do not fall under it: their rental income stays at market. How a condo differs from a co-op and why a condo suits a foreigner is covered in a separate article.
