A city panel delivered some bad news to the 1 million rent-stabilized tenants across the five boroughs. NY1's Michael Scotto filed the following report.

Rent-stabilized tenants left furious after the Rent Guidelines Board denied them what would've been a third straight freeze. 

"I cannot pay more. I am out of here. I'm mad," said one.

The board's proposal calls for a 1 to 3 percent increase for one-year leases and a 2 to 4 percent increase for two-year leases.

During a rally before the preliminary vote, tenants were demanding a rent decrease.

"I'm looking for a rent roll back to make up for the decades of increases that we have had," said one tenant.

The board was appointed by Mayor Bill de Blasio. For the last two years, it did not raise rents.

A spokesperson for the mayor says, "When taken together with the lowest guidelines in history, including two freezes, these four years will continue to set a record at the board for prioritizing affordability."

Landlords say the guidelines have been hurting them. The Rent Stabilization Association sued after last year's freeze. That freeze was upheld in state Supreme Court last month.

This year, landlords were demanding a larger increase than proposed, saying costs have gone up.

"The small property owners are going to continue to struggle for the next year as well," said Joseph Strasburg of the Rent Stabilization Association.

A series of hearings will be held over the next couple of months before the Rent Guidelines Board holds its final vote on June 27, a vote that will lead to a rent hike.