- Associated Press - Tuesday, May 6, 2014

NEW YORK (AP) - The New York City Rent Guidelines Board has voted to consider 0 to 3 percent increases on one-year leases on rent-regulated apartments.

In a preliminary 8-1 vote, the board on Monday also voted to consider 0.5 percent to 4.5 percent increases on two-year rents.

It was the first time that the board had considered a rent freeze.

Rent Stabilization Association Executive Vice President Jack Freund called the vote outrageous. The group represents 25,000 owners or managers.

Tenant representatives applauded the vote.

A final vote is set for June 23 following public hearings in all five boroughs.

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