Think tank wants rent controls and lifelong tenancies
13 Nov 2019 01:53 PM
Rent controls, lifelong tenancies, a public landlord database and an end to Section 21 are among the calls in a report by the New Economics Foundation.
The left-wing think tank has outlined a number of proposals it wants political parties to adopt in order to reform what it describes as the “broken economy”.
- An end to Section 21 repossessions and the introduction of lifetime and open-ended tenancies.
- The creation of a publicly accessible database of landlords and rents, as well as regional centres for the private rented sector, which would administer the system in each area.
- A model of rent controls that would limit rents within and between tenancies and bring rents down to levels affordable on local incomes.
At the heart of the proposal for rent controls sits the setting of a desired rent level (DRL), which would be developed by new regional centres and to which rents on individual properties would be reduced in the first instance. After rents had reached the DRL, a Private Rent Index would control rents.
To read the report in full visit: https://neweconomics.org/uploads/files/newrules2019a.pdf.