NEW YORK (AP) -- The Rent Guidelines Board has proposed raising New York City's rent-stabilized apartment rents between 3.25 percent and 6.25 percent on one-year leases.
The board will settle on a final figure before approving the hike at a June 20 meeting.
The board on Tuesday also proposed 5 percent and 9.5 percent increases for two-year leases
Landlords had pushed for a 7 percent increase on one-year leases and 11 percent on two-year rents.
Last year tenants faced rent increases of 2 percent and 4 percent.
More than 1 million people live in rent-stabilized apartments.