The Rent Guidelines Board preliminarily voted for a range of hikes for New York City’s rent-stabilized apartments on Thursday night, with a possible rent freeze on the table.

Members of the board submitted seven “yes” votes, one “no,” and one abstention, for a 0-2% increase for one-year leases, and 0-4% for two-year leases.

It’s first preliminary vote on whether New Yorkers will see increases for rent-stabilized apartments or if rents will freeze.

Members of the board were appointed by Mayor Zohran Mamdani, whose campaign promise faces a crossroads depending on how they vote.

The backdrop to this important preliminary vote is an ongoing affordability crisis across the city.

New Yorkers are feeling squeezed as the cost of living continues to rise, while landlords have also complained about increased property maintenance costs, saying a rent freeze would leave buildings at risk of falling into disrepair.

“We believe more apartments will be in financial distress, and more tenants will find themselves in substandard housing with no way out,” said Kenny Burgos, CEO of the New York Apartment Association.

Last year, the board voted to allow increases of 3% on one-year leases and 4.5% on two-year leases.

This year, that could change, and if the panel votes for a rent freeze, increases would begin at 0%.

Tenant advocates spoke out on Thursday prior to the preliminary vote.

“We’re out here making sure that we are showing real estate, the city and everyone else that we’re unified in fighting,” said Elisa Martinez of the New York State Tenant Bloc. “A rent freeze means we can actually stay in our homes.”

The Legal Aid Society said in a statement that it is “abundantly clear that New Yorkers residing in rent-stabilized apartments, lofts, and hotels are in dire need of a rent freeze.”

A final decision will not be made until June 25, when the board convenes for its final vote in Long Island City.

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