Labour commits to introducing rent controls

All landlords will then increase rents annually in line with RPI or whatever the rules say.

Remember to increase any rents which are under market value to the current rent levels before the next election.

Don't worry about demand, there are less landlords investing now and quite a few selling so demand is set to rise. That's why Corbyn thinks his policy makes sense. He's telling the masses what he thinks they want to hear to win votes!

Reply to the comment left by Mark Alexander at 27/09/2017 - 16:55
I totally agree with you but the build to rent is taken the lead more flats are build like never before .

Brexit will make lease people coming and Community European given hard time to UK this will only make the economy unstable for many years to come.

Landlords with higher mortgages they are the first to be affected. within next 4 years you will see property markets in slow down like never before.

I hope I am wrong.😢

There is, of course, the possibility that people will see property as the only safe haven for their £££ and buy property in a company to avoid the restrictions on finance cost relief.

I can see EPUT unit trusts taking off in a big way

That’s what I did all my new purchase are in limited company Fingers course no more surprises within (Ltd).

Also I would like to take this opportunity to say thank you for all the advice and guidance you have provided to landlords and Tenants over the years.

If I have not educated myself by reading daily property 118 I would probably sold all my property’s by now.

Rent controls in Stockholm are working well....,not!

http://www.bbc.com/capital/story/20160517-this-is-one-city-where-youll-never-find-a-home

It won't stop at rents!

When the economy implodes under Corbyns communism, the queues for milk and bread will follow.

As a kid in the 60's I remember the Government announcing a weekly increase of the price of milk and bread.

The economy has moved on since those days.

But this guy has learned nothing.

I wonder if he intends to blame us for Section 24?

ARLA's David Cox has commented:

"“The Labour Party clearly hasn’t learnt the lessons of history. The last time rent controls existed the private rented sector went from housing 90 per cent of the population to just seven per cent. Whenever and wherever rent controls are introduced, the quantity of available housing reduces significantly, and the conditions in privately rented properties deteriorate dramatically”

“Landlords, agents, and successive governments over the last 30 years have worked hard to improve the conditions of rented properties and this is like taking two steps backwards. Rent control is not the answer – to bring rent costs down we need a concerted house building effort to increase stock in line with ever-growing demand”

David Smith of the RLA said:

“History has proved that they stifle investment and reduce supply; making it much more difficult for tenants to find somewhere decent to live. Contrary to suggestions, most landlords have one or two properties, which are an investment in their pension and, rather than being wealthy landowners, they are mainly basic rate taxpayers. The private rented sector is a key part of providing more housing and has invested in providing homes for the population, putting more homes into use than other landlord types”

“Rents are high due to the continued failures by successive governments of all stripes to build enough new homes in the right places. Instead of attacking landlords who are helping to provide homes, it would be better to treat them as part of the solution and to supplement their efforts with a sustained and well thought out building programme overseen by government”

A retired account friend of mine, who prefers not to be named, emailed me last night to say ....

"Corbyn’s speech was shown live on BBC 2's Daily Politics show. At about 1 hour 37 minutes into the show he started talking about the Grenfell disaster for over 2 minutes. He then continued by saying “A decent home is a right for everyone, whatever their income, whatever their background. Houses should be homes for the many, not speculative investments for a few”.

On the BBC News channel Rachel Shabi, Guardian journalist and ubiquitous TV pundit, said young people are being locked out of housing and it is wrong for people to make money out of people’s basic right to have somewhere to live. Presumably she wants the PRS to be nationalised as well."

Another friend, also cc'd into the email thread, said ....

"The funny thing is the New York model is famous for NOT working, and has many critics. It totally stifles mobility as nobody ever leaves. The blocks subject to it are the very worst in terms of maintenance and appearance, everything done down to a price. They therefore blight neighbourhoods. The people around them hate them. I know, I've been there as a friend lives in one and apart from the low rent rises, nobody has a good word to say about them."

ONS Chart provided by Property118 member has been added to the article above