Property bosses rage against Sadiq Khan's London rent cap plan
Mayor Sadiq Khan on Friday called for rent controls to be imposed on London landlords to protect tenants, but his plans triggered fury from property bosses who warned investors would be driven away from building new homes. The industry reacted with shock to Khan calling on the Government for extr
Published -
Jul 20, 2019 4:44 AM
Mayor Sadiq Khan on Friday called for rent controls to be imposed on London landlords to protect tenants, but his plans triggered fury from property bosses who warned investors would be driven away from building new homes. The industry reacted with shock to Khan calling on the Government for extra powers to cap rents in London. The demand came in a series of proposals including ending “no-fault” evictions. He said: “It is high time for private renting in London to be transformed.” Khan also floated temporary exemptions from rent controls for build-to-rent homes and tax incentives to encourage investment. But the industry said the moves would reverse a growing trend of investors coming into the sector to build high-quality rental flats in response to surging demand as many Londoners can’t afford to buy homes.
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