The National Residential Landlords Association is looking for help from letting agents in building a case against rent controls.
The association is formulating a formal response to the consultation exercise which started this week linked to a Welsh Government proposal to look at rent controls.
The consultation sets out a number of potential options for rent controls including following the controversial example of Scotland, which has seen a series of six-monthly renewed rent controls - prompting anger amongst lettings professionals and decisions by some investors to pull out of buy to let and new developments.
The Welsh Government has issued a green paper which means it is not yet committed to introducing rent controls, only to exploring them.
James Wood, the NRLA policy manager, says: “We would strongly recommend landlords respond to this consultation directly with their opinions on how it would impact on their future investment choices before it becomes concrete policy. In addition, as this is not policy yet, if it does some come in, it is likely to be years away so landlords have plenty of time to consider their options.
“The NRLA will be responding to this consultation as well and we will be arguing that rent controls would be a disaster for the supply of homes in Wales. Particularly given landlords are still struggling with the implementation of Renting Homes (Wales). We are keen to hear from landlords and agents who want to provide case studies to add to our consultation response.”
The Welsh Government’s consideration of rent controls has raised hackles because in the past Welsh housing minister Julie James has said: “If you have to freeze a rent and you are on a buy to let mortgage and your costs are going up as a landlord then you are not going to be able to cover your costs - why would you stay in the market?”
Another of her comments has been: "Especially in rising inflation, where if you put your money in the bank, you might get a decent return on it - which hasn't been the case for some years.”
And she has said: "We have to be really careful here that we balance the rights of tenants and the rights of landlords and we keep up a supply of housing so we can keep people housed."
If agents wish to respond to the consultation they can do so here.
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Rent control worked for F.R.I.E.N.D.S, with no real rent worries they were able to live life and laugh all the time. It clearly benefited the local economy with Central Perk raking in most of their disposable income. So many reasons to say "yes" to it.
I remember when rent controls were in force years ago. Looking ro buy a property to rent out and it has a controlled rent? Easy, look somewhere else
Basically the Welsh government has opened the floodgates by becoming a Refugee Sanctuary. Demographics are changing over night and Plaid Cymru In Carmarthenshire has put refugees at the top of the housing list. People from the wahabbis are here and it's starting to look like Saudi Arabia. Obviously this will require rent controls to enable refugees to live here.
Are they going to put a cap on the Bank of England raising their rates at the same time?
Looks awfully like the NRLA does not have enough members to help their submission.
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