How much can a landlord raise the rent of a rent-stabilized apartment?

Lease renewal percentages or flat rate increase amounts for rent stabilized apartments in NYC are determined by the New York City Rent Guidelines Board. The lease renewal percentages for a rent-stabilized apartment began October 1, 2012, and are based on lease terms:

One-year lease: 2% or $20, whichever is greater
Two-year lease: 4% or $40, whichever is greater.

The lease renewal percentages for a rent-stabilized apartment beginning October 1, 2013 through September 30 are based on lease terms:

One-year lease: 4%
Two-year lease: 7.75%