Miliband plans to cap rent rises

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Published: Saturday 25th April 2015 by The News Editor

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Private landlords would be banned from above-inflation rent rises over a three-year period if Labour wins power after the May 7 General Election, Ed Miliband is set to announce.

The move forms part of a plan to help the growing number of people – known as Generation Rent – who are stuck in rented accommodation as home ownership falls to its lowest level for 30 years.

Landlords and letting agents would be required to disclose the rent paid by previous tenants, to allow renters to negotiate the best possible deal at the start of a contract.

And rogue landlords would lose buy-to-let tax relief if properties do not meet basic standards.

Speaking ahead of a speech on Sunday in which he will spell out details of the plans, Mr Miliband described Labour’s blueprint as “a plan for a stable, decent, prosperous private rental market where landlords and tenants can succeed together”.

But Communities Secretary Eric Pickles retorted on Twitter with a quote from economist Assar Lindbeck: “Rent control appears to be the most efficient technique presently known to destroy a city except for bombing.”

Published: Saturday 25th April 2015 by The News Editor

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