Disastrous rent controls on the agenda again....

Posted: 14/3/2022


Several councils in GB have been pushing the government for rent control powers, that is the ability to set caps on private rented housing. Rent controls were abolished years ago and with good reason. They restricted both the level of rental accommodation available, and they reduced the quality of that accommodation. Rent controls take no account of the actual costs of running a rental property, much increased of late due to unfair landlord tax rises. So landlords will simply exit the market making the shortage of rental accommodation even more acute. Many of our landlords here at Key One offer really high-quality homes, but if rent controls mean that landlords can't charge the market rate, then they just won't keep improving property, and we are back to the days of poor housing. Whilst some may think that rent controls might be great for tenants they will likely be the opposite. 

Update on this: last week a proposal was made in Stormont to "reduce rents by 10%". How exacty this was going to work is unknown however after much confusion it seems that it was not included in the Private Tenancies Bill. 

Key One Property offer VAT-free lettings and management services to landlords.

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