'Rent controls could have saved London tenants £2,800'
Published by Max Salsbury for 24dash.com in Local Government and also in Finance, Housing
If the rent control model advocated by a majority of the London Assembly had been brought in, the capital's private tenants would have saved £2,796 in the two years since Boris Johnson's re-election, an assembly member has claimed.
The Green Party's Darren Johnson has called for assured shorthold tenancies to be replaced with five-year tenancy agreements, during which time annual rent increases would be capped to provide a "fair compromise between landlords and tenants".
Darren Johnson AM said: “With one in four Londoners renting privately, it’s time they had more protection against huge rent hikes, and more security to make a real home for themselves. It’s only fair for tenants to be able to stay in their home if they choose, and for landlords to be able to raise the rent to cover any rising costs.
“The mayor supports this model when it comes to big investor landlords in his Build to Let scheme, but he has opposed the introduction of regulations that would apply the same model to everyone else. He has to drop his opposition and join me in lobbying for an end to landlords being able to boot tenants out or land them with huge rent hikes every six or 12 months.”
Johnson has now launched a webpage where tenants can see what different the rent control model could have made their finances.