Renters Reform Bill

Lord Mackenzie of Framwellgate Excerpts

Tuesday 22nd November 2022 Lords Chamber

[Baroness Scott of Bybrook (Con)]

My Lords, the Government do not support the introduction of rent controls in the private rented sector. Historically, evidence suggests that this would discourage investment in the sector and lead to declining property standards as a result, which would not help either landlords or tenants. Recent international examples also suggest that rent controls can have an invertedly negative impact on the supply of housing and may encourage more illegal subletting.

[Lord Mackenzie of Framwellgate (Non-Afl)]

My Lords, I am aware of many landlords who own one property which they use for letting purposes, and it amounts to their sole income. Does the Minister therefore agree that a one-size-fits-all rent freeze could damage those who rely on rental income to service their ever-increasing mortgages, thereby damaging the rental sector altogether?

[Baroness Scott of Bybrook (Con)]

My Lords, I think that is exactly what I have said. We need a balance here, in order for landlords to still provide this sector, which is an extremely important sector, and in the renters reform Bill that is coming forward I am sure that we will discuss that in further detail.