RLA calls on London mayoral candidates to support growth of private rented market
Posted by Sue Hopson
The candidates for next year's Mayor of London election have been urged to help landlords expand properties available for buy-to-let in London.
According to the Residential Landlords Association (RLA), doing more to help stimulate the growth of the private rented sector in London will help resolve the problem of rents in the capital reaching unaffordable levels for many.
It comes after Labour's candidate for Mayor of London Ken Livingstone called for a system of effective rent controls to be introduced.
"Ken Livingstone's call for rent controls is an old idea which never worked in the past - until 1988 rent controls resulted in a shortage of supply and poorer conditions for tenants," said RLA chairman Alan Ward.
"Hardly a remedy for 2012. There is no doubt that rents in the capital remain far higher than anywhere else in the country but the answer lies in improved supply."
Mr Ward also claimed that current mayor Boris Johnson's plans for a pan-London accreditation scheme for landlords would be counter-productive.
"With over 10,000 landlords in London already members of the London boroughs' accreditation scheme, it would seem a waste of time and money re-inventing the wheel in this way," he said.
"The Mayor should focus on supporting and encouraging existing accreditation schemes, freeing his office up better to target the minority of landlords who bring the sector into disrepute."
The RLA wants to see purchasing buy-to-let investment property London made easier through tax breaks in order to boost supply and lower rates.
"With many, particularly young, people relying on the sector to provide housing to meet their needs, the RLA is calling on both Boris Johnson and Ken Livingstone to support efforts to reform the taxation system to stimulate growth in the sector," said Mr Ward.
The 2012 London mayoral election will be held on May 3rd 2012, with Liberal Democrat Brian Paddick standing against Mr Johnson and Mr Livingstone.
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