NYC Rent Guidelines Board votes to increase tenants' rents by up to 6%

New York City’s Rent Guidelines Board voted to increase rents by some of the biggest margins in nearly a decade during a preliminary vote Thursday night, though they were somewhat less than what the board had been mulling in recent weeks.

The board endorsed rent increases of between 2 and 4% for one-year leases and between 4 and 6% for two-year leases, which could amount to the most sizable surge in stabilized rents since 2013, when one-year leases went up 4% and two-year leases went up 7.75%. 

WNYC reporter Gwynne Hogan joins All Things Considered Host Sean Carlson to discuss what the preliminary vote means for landlords and tenants.