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As happens every year, the city's more than one million rent stabilized tenants are girding up for a rent increase. But new this year are reports that owners' operating costs rose less than usual, giving advocates some hope the hikes will also be on the lower side.

"Last year we advocated for a zero percent increase, I think we'll do the same this year and I think this year it's a little more feasible given the economic climate," said Tenants & Neighbors Executive Director Maggie Russell-Ciarti.

Each May, the Rent Guidelines Board proposes a range of allowable rent increases for stabilized apartments. The nine-member board then holds public hearings before settling on a final number.

Last year, it was 4.5 percent for one year leases and 8.5 percent for two year leases.

"Last year was one of the worst years we've seen in the history of the Rent Guidelines Board. We're hoping for something a little bit better this year," said Russell-Ciarti.

But whether that will happen remains to be seen.

The Rent Stabilization Association represents the landlords of rent stabilized units. Its president says last year's increase wasn't enough to cover landlords expenses and it's time they got out from under and is pointing the finger of blame at City Hall.

"Government itself has created such an increase via water and sewer increases -- double digit, we've just got off an increase in real property taxes also in terms of double digits," said Rent Stabilization Association President Joseph Strasburg.

The public won't be allowed to weigh in when the RGB votes on preliminary range of hikes Tuesday night, but there are two public hearings in June before the final numbers are set at the end of next month.