Ed Miliband to unveil far-reaching rental market reforms
Labour plans longer tenancy agreements and rent increase ceiling as Tories accuse him of ‘Venezuelan-style rent controls’.
A future Labour government would ban landlords from evicting tenants as a quick way of increasing rental income, Ed Miliband will announce on Thursday as he outlines the most far-reaching changes to the rental market in two decades.
In a policy designed to be one of the most eye-catching elements in his campaign to tackle the “cost of living crisis”, the Labour leader will pledge to introduce three-year tenancy agreements with strict rules to make it more difficult to evict tenants.
Pledging to champion Britain’s overlooked “generation rent”, he will say he would introduce a mechanism to place a ceiling on rent increases. He will also ban letting agents from demanding fees from tenants that can be as much as £500.
Speaking at the launch of Labour’s European and local election campaign in Redbridge, Miliband will say: “Generation rent is a generation that has been ignored for too long. Nine million people are living in rented homes today, over a million families and over two million children. That is why a Labour government will take action to deliver a fairer deal for them, too.”
Miliband has made clear in recent weeks that while reform of the rental market would mark the next stage in his cost-of-living campaign, his plans would stop short of rent controls. But Grant Shapps, the Tory chairman, accused the Labour leader of planning to introduce “Venezuelan-style rent controls”.