The Mayor of London introduced rent controls in his manifesto
The Mayor of London, Sadiq Khan has announced in his manifesto ahead of the local elections in May 2021 some key policy announcements that impact the housing sector, including proposals to introduce rent controls in the private rented sector.
In order to ‘get to grips with the inequalities in the rental market’ which have been exacerbated by the Coronavirus pandemic, Khan states he will need an overhaul of legal protections for renters and will establish a system of private sector rent control.
He also aims to empower City Hall to be able to approve requests from local authorities who wish to drive up standards in the private rental sector by bringing in a landlord licensing scheme.
Propertymark believes that rent controls are not the answer when seeking ways to stand up for renters in London. Increasing the supply of properties, rather than capping rents will ensure rents fall and landlords stay in the market.
Source: Propertymark Website
Posted on Tuesday, 13 April, 2021