25th
Mar 2022
A PRS association has just launched an initiative to try to help stop the expected rent controls being introduced across Wales.
The industry body has publicised its Shadow Wales White Paper which explains it ideas on how the UK’s private rented sector may be improved. It has also heavily criticised the Welsh government’s intention to introduce rent controls.
The ‘White Paper’ says: “We have long held the view that rent controls of any kind simply do not work and do not have the intended effect of addressing affordability in the private rented sector.”
The trade body’s ‘White Paper’ is deliberate in trying to ‘shadow’ the awaited official paper due anytime soon, which will undoubtedly major on rent control measures and could be passed by the Senedd next year.
Following the agreement between the country’s Labour government and Plaid Cymru to form a ‘loose’ political alliance, they released their outline of PRS proposals back in November.
The ‘team’ have put their heads together on many new PRS initiatives which besides the much maligned rent control measures, include longer notice periods to be given to tenants and increasing the length of ASTs.
However the trade body warns the Welsh government that these so called initiatives have already impacted landlord investment and cites its own research which found that just 11 per cent of landlords are hoping to invest in more properties, however 37 per cent are either reducing their number of properties to let, or selling up full stop.
A spokesperson for the organisation, says: “Our White Paper sets out what must be done in Wales to build a fairer, more inclusive PRS for both tenants and landlords and the damage that outmoded notions of rent control could have on the market.
“Ultimately, with affordability and supply issues continuing to dog the Welsh private rented sector, rent controls would exacerbate these ongoing problems and fail to provide a solution fit for the twenty-first century.”
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