Labour party leader Jeremy Corbyn pledged to bring controlled rents to the private sector during his conference speech in Brighton today.
His rhetoric appeared to push the party further than its 2017 manifesto – a promise to consult on regulating rent rises above inflation.
“Rent controls exist in many cities across the world and I want our cities to have those powers too and tenants to have those protections,” Corbyn told delegates.
The National Landlords Association has referred to rent control as “an inflammatory term.” Right-leaning economists argue that imposing restrictions on owners’ ability to raise rents inevitably cuts the supply of much-needed rental properties.
But as Corbyn mentions, many cities in Europe and the US do have various forms of rent control.
In France, Germany and Spain, maximum annual rent rises are established at the outset of longer tenancy agreements, often lasting between three to five years.