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Ed Miliband has announced today his party’s policy for greater regulation of the private rented sector. Under his proposals, landlords will have to provide three-year tenancy agreements and there would be rent caps based on average market rents. Landlords would also have to meet tough requirements if they
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wanted to terminate a tenancy agreement with two months’ notice.
“This is Labour’s fair deal for rented housing in Britain – long-term tenancies and stable rents so that people can settle down, know where the kids will go to school, know their home will still be there for them tomorrow,” says Mr Miliband.
Critics Vocal in their Response to Ed Miliband’s Proposals
The Tories think the plan would be a disaster for Britain’s housing market.
“Evidence from Britain and around the world conclusively demonstrates that rent controls lead to poorer quality accommodation, fewer homes being rented and ultimately higher rents – hurting those most in need,” commented Grant Shapps, Tory Party Chairman.
Undermine Investment in New Homes, says RLA
The RLA was more guarded in their response:
“The RLA will study Labour’s proposals carefully, but all the evidence clearly shows that rent controls of the kind being proposed, would critically undermine investment in new homes to rent and are not needed given that official statistics show that rents are increasing by much less than inflation.”
Unworkable Says NLA
The National Landlords Association certainly didn’t mince their words when they responded to the news:
“The proposal for a three-year default tenancy is unnecessary, poorly thought through and likely to be completely unworkable.”
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