Labour Party Would Introduce Rent Controls
It is not a secret that the Labour party is keen to reform the rentals market. The number of households that are in private rented accommodation has topped 3.9 million for the first time, pretty much doubling over the last 15 years. Some parties believe that the rentals market id broken and that landlords should not be able to increase the rent by 10% each year whilst others believe that the letting's market is just like any other market and is subject to free market economics.
However the rental sector probably has the worst press of any in the property sector and this has not gone unnoticed by politicians. There are calls from many people to cap the amount of increases that can be applied each year as well as introducing new legislation to create tenancies for a minimum of three of five years. Generation rent who lobby 0n behalf of UK tenants would like to see far more reaching reforms introduced to bring the rental sector inline with other markets and overseen by an ombudsman or regulator.
Landlords accused of revenge evictions
According to experts many landlords have been able to get away bad practices such as revenge evictions. This happens when a tenant complains about a problem such as damp or a boiler that needs replacing. The landlord will refuse to do he work but will instead give the tenant notice to quit the property at the end of the current tenancy. They may only have been there for 12 months but the landlord asks them to leave on the prettiness that he wants to move into the property or a family member wants to occupy the house. The house is then re-let to another tenant and the vindictive landlord has settled a score. There are calls to stamp this type of behaviour out and to hold landlords and their agents to account and with tougher penalties to those that are acting in this way.
As well as rent controls some people also want to see more action taken against letting agencies and want the letting industry regulated much the same as the financial services industry is regulated. The government has so far resisted this but may be soon be left with no choice if the number of homes in the rented sector continues to rise. Recently letting's agents fees have come under the spotlight because they have been accused of ripping off tenants with all types of spurious fees. Ed Miliband has publicly said that he wants to put a stop to this and many expect him to go much further if the labour Party get back into government.