A majority of landlords back some form of rent control, a new poll by a leading letting agency has revealed, as the likelihood of Labour ‘interference in rent pricing’ increases.
Leaders Romans Group (LRG) quizzed a group of 1,200 landlords and tenants and found that, surprisingly, some 70% of landlords backed rent controls overall with half favouring limiting annual rent increases and a third saying they supported rents being limited to wage or inflation rises.
But 30% were against rent controls of any kind and predictably, most tenants backed rent controls and in particular ‘rent freezes’.
One landlord told the agency: “We should accept our responsibility to provide decent homes at a fair price” while another added that “the real problem is the lack of supply – rent controls, higher taxes and licensing only lead to fewer properties to rent. That can only mean higher rents”.
Other surprising results from the survey include that banning Section 21 evictions is not a high priority for tenants, who instead are most concerned about cutting the cost of living. Also, half of the tenants polled agreed that changes the evictions process should only take place once the courts system is improved.
Another issue worrying landlords ahead of a Labour government is taxation, with 60% telling LRG that greater property taxation would inevitably lead to higher rents.
Also, 45% of respondents expressed concerns about the introduction of new regulatory measures that could complicate the rental process.
"This survey highlights the critical concerns faced by both landlords and tenants in today's volatile market,” says Allison Thompson (pictured), National Lettings Managing Director at LRG.
“The start of a new parliamentary term presents a pivotal moment for the party in power to address these issues with balanced and thoughtful policies. It's essential that we create a fair and sustainable rental environment that supports both landlords' ability to invest and maintain properties and tenants' access to affordable housing."
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