Rent Controls – London vs the rest of the world

by Kirsty McGregor

10:20 AM, 24th September 2013
About 5 years ago

Rent Controls – London vs the rest of the world

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Rent Controls – London vs the rest of the world

A Landlord Today article this morning says David Orr of NHF (trade body for social landlords) thinks Govt should introduce Rent Controls.

Luckily the RLA have swiftly responded, saying “His calls for rent controls are based largely on a select few areas of London boroughs that have seen rents rise as a result of an acute housing shortage across all tenures.”

I’ve posted 2 comments on news articles today (the other was about the reported massive continuing rises in rents – until the last sentence, which then said actually it’s not quite the same around the rest of the country). I think the regional picture (which is turn is swayed again by higher levels of demand in the university cities) is hugely different!

What’s your experience? Have you managed rent increases, or are you starting to have more voids now? (an idea of what type of location your properties are based in would be useful to know too, if you are commenting). I’m certainly hearing more of that from around the ‘regions’ and this London story just doesn’t make sense elsewhere. Rent Controls - London vs the rest of the world



Comments

Mark Alexander

10:23 AM, 24th September 2013
About 5 years ago

Rent controls will not increase the supply of housing will they?

I wish these people would just accept that we are a capitalist economy and allow the free market to set its prices.

If they don't like that perhaps they should emigrate to North Korea, a Country which might be better suited to their political preferences!!

Kirsty McGregor

11:11 AM, 24th September 2013
About 5 years ago

Reply to the comment left by "Mark Alexander" at "24/09/2013 - 10:23":

Well said Mark! It is a free market. Although we all know that some shoddy properties are being let out at extortionate rates, and better quality properties are also being capped at a "glass ceiling". If there was a true free market (& not governed by the marketing methods allowed by the national portals that dominate the sector nowadays) then there would be more variation in prices - other than just size/location. Quality & condition for instance. Now wouldn't that be a good idea...someone should develop that as a new marketing tool 😉

Mark Alexander

11:17 AM, 24th September 2013
About 5 years ago

Reply to the comment left by "Kirsty McGregor" at "24/09/2013 - 11:11":

HAHAHA, as the crowned king of self promotion it is my pleasure to meet a Queen.

Kirsty McGregor

11:35 AM, 24th September 2013
About 5 years ago

haha well if you're just going to deliver me an opportunity on a plate, no self-respecting entrepreneur is going to turn it down are they?! Seriously though, it sums up exactly why we started Rental Ratings.

It's not as free a market as it should be, and it's the better quality landlords/properties that are losing out to the cheapskates/rogues whatever you want to call them.

You probably don't want me to mention the comment I put on another (Landlord Today) news item today about some policy thinktank suggesting more council licensing & accreditation schemes should be implemented do you?? [bites tongue til it bleeds....]

Jay James

17:44 PM, 24th September 2013
About 5 years ago

rent controls? how old fashioned.


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