Labour leader Jeremy Corbyn’s plans to introduce rent controls and secure tenancies in the private rented sector (PRS) if elected prime minister at the next general election would spell ‘disaster for tenants’, as it would deter many people from investing in the sector, reducing the supply of homes to let, it has been claimed.
Corbyn’s plan for rent controls, were named among 10 pledges announced by the Labour leadership contender last week, but the Residential Landlords Association (RLA) believes that introducing controlled rents would inevitably reduce the supply of rental homes, worsening the UK housing crisis.
Alan Ward, RLA chairman, said: “Jeremy Corbyn’s call for rent controls would be a disaster for tenants. He is ignoring all history and experience which shows that where such controls are applied they choke off the supply of homes to rent, making it more difficult for tenants to access decent and affordable housing. This has previously been acknowledged by Labour’s former Minister responsible for housing in Wales.
“Rather than playing the populist tune, Mr Corbyn would do well to consider the facts. Figures in the English Housing Survey show that private sector tenants are spending an average of four years in their current property, up from 3.7 five years ago. Such tenants are also more satisfied with their accommodation than those in the social rented sector according to the same survey.”
The RLA, which has long opposed the introduction of rent controls, believes that rather than penalising landlords for providing much needed rental homes the government needs to address the issue of supply by doing more to encourage greater levels of housebuilding in order to stabilise rents in the long term.
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This is heady stuff coupled with section 24 changes which include removal of 10% wear and tear and restriction of interest to basic rates by 2020.
I let in cork Ireland and Ealing west London. They tried all this in Dublin and cork and we have a massive housing crisis now. Landlords have sold in droves. Homeless figures rocketed. House prices gone through the roof !! When will governments ever learn ?
He should get on with a house building program on brownfield in large cities. Playing politics with housing is playing with fire.
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