Renters picket six London letting agents, forcing some to close
London Renters Union demands a rent freeze and says estate agents including Foxtons are “gouging rents well above inflation”.
Tenants demanding a rent freeze staged a protest outside six letting agents in London.
Members of the London Renters Union (LRU) picketed the offices of Winkworths, Foxtons, and other agents in Hackney, Bow, Tottenham, Stratford, Crystal Palace and Willesden, forcing some of the agents to close for the day on Saturday.
According to one newspaper report, demonstrators holding banners saying “Freeze rent not renters” put dummy letting agents in stocks, and gave speeches about homelessness and eviction.
‘Rents have risen by 20%’
The LRU said in a statement it wanted to highlight the “human cost of the rental crisis” and claimed that letting agents played a “key role” in “gouging rents well above inflation”.
It also claimed that Foxtons’ 25% increase in revenues was made “off the back of rising rents”.
They pointed to the fact that former CEO Nic Budden (pictured) had been given share bonuses in 2020 that took his total pay to £1.6 million.
“While 39% of landlords have no debt on their properties, landlords are exploiting the cost-of-living crisis as an excuse to hike rents well above incomes.”
The union claims rents have increased by an average of 20.5%, or £3,378 per year, based on 150 rent rises reported to it since 20 September.
‘Rent freeze’
Members are demanding a rent freeze similar to the one imposed in Scotland by SNP first minister Nicola Sturgeon in October. London Mayor Sadiq Khan has also recently joined housing campaigners in calling for an immediate rent freeze in London.
“Landlords and estate agents like Foxtons are using the current economic crisis to artificially increase rents and boost profits,” said Rebekah Hesse-Clark from the London Renters Union.
“The rent rises being pushed through are unfair and unjustifiable. Nearly half of all landlords do not have a mortgage, and many will be not affected by rising mortgage rates.
“By refusing to introduce a rent freeze like the one in Scotland, the government is leaving renters to face eviction and homelessness and giving a green light to estate agents and landlords to continue to exploit tenants.”
