Estate agents slam London mayor over claims rent controls will help tenants
Propertymark has, unusually, warned Sadiq Khan that rent controls will lead to fewer properties and lower standards within the PRS.
Renewed calls by London mayor Sadiq Khan to introduce rent controls have been slammed by estate agents.
Trade body Propertymark says they will drive down standards and availability within the private rented sector, and that any short-term benefit for tenants would be dramatically outweighed by long-term consequences for the sector.
Although Khan’s comments follow several previous attempts to persuade Whitehall to give him rent controls powers, he is no longer alone in believing they will lower rents.
Last week Bristol housing chief Tom Renhard announced a regional conference to co-ordinate a more joined-up local and national approach to rent controls.
Also, the Welsh government plans to bring them in, while Scotland is debating how to widen and improve its existing controls.
Backfire
Timothy Douglas, Propertymark’s Head of Policy and Campaigns (pictured), says:
“Rent controls are not the antidote for rising rent levels and will backfire, drive down standards and reduce the number of properties available to rent. Ultimately, this will mean even less choice and increased costs for tenants in the long term.
“Politicians are failing to recognise the increased legislative requirements that landlords face, along with the array of tax changes that have placed additional financial burdens on landlords.
“This is in addition to the challenges that many landlords and agents have faced due to the Covid-19 pandemic.
“If our elected representatives are serious about supporting renters, then more must be done to increase supply and build housing across all tenures as well as supporting those agents and landlords who provide much-needed homes for their residents.”
That will work – I mean the Gov has already “helped” tenants by restricting fees and charging landlords and now rents have sky rocketed and rental supply has dropped.. Good job. I mean, he is the Mayor, so knows best, just look at how he’s improved London…if you’re brave enough to visit.