Mayor of London Sadiq Khan is to tackle London’s housing crisis with a ‘new deal’ for renters including longer tenancies called the ‘London Model of renting’, it has been announced.
The initiative, which will be part of the Mayor’s new Housing Strategy, will see tenants and landlords brought together to create the new concep.
This is likely to include longer tenancies to create a more “stable, family-friendly sector” and see an end to six and 12-month Assured Shorthold Tenancy agreements that currently dominate the sector.
A statement released today says that: “the Mayor wants a better deal for the increasing numbers of Londoners who live in the private rented sector, with the aim of creating a modern, fit-for-purpose and high quality housing option for the millions of Londoners who rent…where the legitimate rights of landlords are protected too”.
Figures quoted by Khan’s office reveal that a quarter of all Londoners live in the private rented sector, and increase of 200% since 2004, and that the current legal framework for tenancies were introduced almost 30 years ago.
Khan says that with a standard tenancy length of just six to 12 months, renters face high rents and little guarantee of security or stability, causing “disruption for education, childcare and employment”.
Khan also claims the system is letting down the capital’s many “decent landlords”, as out-of-date and confusing regulations make it easier for bad landlords to operate without punishment.
Sir Steve Bullock, London Councils’ Executive member for housing (pictured, left), says: “The London Housing Strategy marks an important step in the long journey towards solving the capital’s housing crisis. Central government, the Mayor and the boroughs all have a part to play in ensuring we better meet the housing needs of all Londoners, making it possible for London to grow economically and continue to be a great place to live.”
The announcement comes just a few months after Khan announcement that Boris Johnson’s largely failed London Rental Standard has been scrapped.