|Jeremy Corbyn’s speech to the Labour Conference has included a commitment to introduce rent controls. This represents a further attack on the private rented sector and will drive down property standards for tenants.|
The Labour Party clearly hasn’t learnt the lessons of history. The last time rent controls existed the private rented sector went from housing 90 per cent of the population to just seven per cent. Whenever and wherever rent controls are introduced, the quantity of available housing reduces significantly, and the conditions in privately rented properties deteriorate dramatically.
Landlords, agents, and successive Governments over the last 30 years have worked hard to improve the conditions of rented properties and this is like taking two steps backwards. Rent control is not the answer – to bring rent costs down we need a concerted house building effort to increase stock in line with ever-growing demand.
Many ARLA members have established dialogue with their MP during ARLA’s high profile campaign against the letting fees ban. While the policy definition of rent control is not clear, it is vital that dialogue continues with legislators to ensure that they understand the consequences.