Sounds a bit strange to say this but it’s absolutely true, however, it will make your tenure more secure.
Labour’s proposal is to cap rent increases at inflation for the first three years of a tenancy. This doesn’t give you the ability to plan your finances – because you don’t know what the inflation rates will be over the next three years – but it is a long way from wild west situation we have today.
Over on Landlord Law Blog, Tessa Shepperson has offered three warnings to politicians who are trying to tackle housing policy on their election campaigns.
In a nutshell, she notes the importance of housing to people’s health, wellbeing and life chances, highlights the lack of real information about the private rented sector and the actors within it, and the need to ensure it is not a bad investment.
The blog is really raising concerns about Labour’s proposals for the private rented sector: essentially rent stabilisation and longer term tenancies. These are both policies that Generation Rent is calling for – though we think Labour should go further. Tessa makes valid points about them and they merit a response.
All five main UK-wide parties have now published their election manifestos. I took a trawl through them to dig out their plans for renters and the wider housing market.
Today, we're very sad to say that we have to withdraw our support for the Homes for Britain campaign. The title's great but in reality we believe the strategy is so flawed that it has to date undermined the interests of people suffering the consequences of the housing crisis.
We're not suggesting anyone else leaves the coalition, but we are asking signatories to work with us on a more effective, loose campaigning network, and to influence Homes for Britain so that it advocates solutions to the housing crisis that are significantly more timely than within a generation.
Our letter to Homes for Britain supporters is below, but of course we have no such list. We'd be grateful if you could share this letter by email and social media. Anyone organisation that wants to participate in delivering material change, whether that be by asking a network for support or by offering it, or even simply keeping abreast, should email us at firstname.lastname@example.org
Thanks so much,
Director, Generation Rent
With the launch of the Conservative Party manifesto today, housing jumped up the media and political agenda – but sadly not in the way that will please people looking for genuine and long-term solutions to the housing crisis.
Today's Financial Times (registration required) reports that the Department for Communities and Local Government has blocked nearly 10,000 new homes from being built since the start of 2015.
What on earth is the government playing at?
A letting agent convicted of theft from tenants and landlords could be working in the rental market in only 15 months.
Alison Bush was jailed for 15 months at Swindon Crown Court after pleading guilty to two counts of theft and fraud.
You may have seen this letter going viral on Twitter:
Halifax’s annual Generation Rent report came out today, and the main finding is how renters are becoming resigned to their fate.
There were some positives with the highest number of first time buyers for 7 years, although we are a long way off the levels of half a million seen in 2002. However, there is little improvement in how potential first time buyer view their chances – with 79% of 20-45 year olds believing that banks don’t want to lend to first time buyers and 21% believing it is virtually impossible to obtain a mortgage.
Over the last 18 months renters and shared owners have been enticed to live in the East Village with the promise of being part of a new, exciting community. But for almost 400 households in "80% of market rate" intermediate rent, that dream is turning sour.