The Rent Guidelines Board held a preliminary vote Thursday night on potential rent hikes for the city's rent-stabilized apartments.
In a 5-4 vote at Cooper Union, the board proposed a 1-year lease increase of .75 percent to 2.75 percent, and a 2-year lease increase of 1.75 percent to 3.75 percent.
The Rent Stabilization Association says landlords were looking for an increase of 4 percent on one-year lease renewals and 7 percent on two-year lease renewals.
Last year, the board approved rent hikes of 1.25 percent on one-year renewals and 2 percent on two-year renewals.
New Yorkers NY1 spoke to say rent hikes make living here unmanageable.
"I would like to be able to pay my rent, and right now, it's kind of like going up every year," said one New Yorker. "I try to hold on to a 2-year lease so that at least it's not that crazy. So really and truly what we want is affordable rent in New York City.
Potential increases will affect lease renewals beginning October 1, 2018.
Public hearings will be scheduled for tenants and landlords to have their input heard.
A final vote will take place in June.