Rent Guidelines Board approves rent hikes in preliminary vote

EAST VILLAGE, Manhattan (WABC) -- The New York City Rent Guidelines Board approved increases for rent-stabilized apartments in a preliminary vote on Tuesday night.

At a meeting in the East Village, the board voted 5-4 to propose increases of 0.5 percent to 2.5 percent on 1-year leases and 1.5 percent to 3.75 percent on 2-year leases.

Angry tenants held a rally before the meeting to express their opposition.

A series of hearings will now be held in all five boroughs, to give tenants and landlords a chance to testify.

A final vote on possible rent increases will be held June 27.

Last year, the board approved hikes of 1.5 percent on one-year leases and 2.5 percent on two-year leases.

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