The city's Rent Guidelines Board on Monday held the first of four expected public hearings focused on a proposed increase for rent stabilized apartments.
The board is considering increases of 0 to 2 percent on one-year lease renewals, and a 0.5 to 3.5 percent on two year renewals.
If the current rent regulations expire on June 15, however, more than one million apartments in the city could start going for market rates.
Inside of the meeting, several people held signs calling for a rent freeze or rollback, while landlords say that would be disasterous for them.
"Tenants in the city are struggling. Working families, service workers, public employees can't afford to pay their rent. Year after year for nine years in a row now we've had record landlord profits. The tenants—they need a rollback," said Ilana Meier of the Metropolitan Council on Housing.
"This year, measurements come out low. That doesn't mean owners didn't have increase in costs, doesn't mean buildings aren't aging and deteriorating and need improvements. We need reasonable rent guidelines, but one the tenants can afford," said Jack Freund, executive vice president of the Rent Stabilization Association.
Mayor Bill de Blasio has promised that if Albany does not strengthen rent protections before the approaching deadline, he will end all tax breaks for developers of luxury condos in the city.