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The current mayor of London, Boris Johnson, has chosen not to run for a third term in office now he is MP for Uxbridge and South Ruislip. This leaves an opening for new candidates, one of whom has now been confirmed as Sadiq Khan from the Labour Party.
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Living Rent for Londoners
Mr Khan has made his views on the private rental sector very clear. If he is elected he will introduce a London Living Rent and rent controls to reduce the cost of living in the private rental sector. The ‘living rent’ would be a below market rent for new build properties, priced at approximately one third of the average tenant’s income. Reducing the cost of renting in the capital would enable younger people to save up for a deposit and gain a foothold on the property ladder.
“The two million Londoners who rent have been badly let down by the Mayor and Government, with many Londoners now spending over half their income on rents. The Tories didn’t even mention private renters in their manifesto.”
Not for Profit
His other plan is to create a non-profit letting agency in the capital to help tenants find homes. Rogue landlords will be ‘named and shamed’ and tenants will be given more power to encourage their landlords to do repairs.
Mr Khan also promises to: “…work with the good landlords who treat their tenants well, and I’ll take on bad ones, with stronger rights for tenants to get repairs done. As the Tories shrug their shoulders, I’m determined to show that we can do more to help Londoners who rent.”
