Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 3 weeks ago 48
The Fabian Society, a left wing but not Marxist think tank, has released new research claiming private renters support for rent controls is motivated by more than just saving money, but also to tackle insecurity and unfair treatment. However, renters want rent controls that make a difference, but that aren’t so tough on landlords that they feel forced to sell-up.
Is this a mutually compatible set of objectives in the real world?
The Report is titled Beyond affordability: What tenants want from rent controls. Click here to download.
It is published in partnership Shelter
Beyond Affordability, lays out a framework for politicians seeking to implement a rent control policy. It presents the priorities and concerns of renters themselves, gathered through a series of six in-depth focus groups held across England. The report is published amidst growing political attention to the policy, with both the UK Labour party and London Mayor Sadiq Khan committed to the policy.
The key lessons in the report include:
Report co-author and Fabian Society deputy general secretary Olivia Bailey said:
“Well designed rent controls can tackle rising costs and falling standards in the private rented sector. But politicians must base their plans on the views of renters themselves.
“Tenants want rent controls to enhance their security and make the system fairer. They want help with soaring costs but are worried about slashing rents which could risk landlords selling up.
“A policy that offers fairness, security and stable rents will command support at the ballot box and give millions of people the comfort and security of an affordable, decent home.”
Greg Beales, campaigns director of Shelter, commented:
“Many of the country’s 11 million private renters are feeling the full force of the housing crisis and there’s no doubt they need a fairer deal. We hear from people every day who, despite working every hour they can, constantly struggle to cover their rent.
“Rent controls are used around the world to give tenants predictable and stable rents, which allow renters to plan for the future and feel secure in their homes. This report shows an appetite among renters here for sensible rent control proposals, and demonstrates how they could be viable for policymakers.
“But any form of rent control must always work for those hit hardest by affordability pressures. And, as this research shows, no form of rent control can be hailed as a magic cure. Any scheme must sit alongside a clear government commitment to build the 3 million social homes this country needs, to solve the housing emergency once and for all.”
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