Sky-High Rents Prompt Calls for New Controls on Landlords

London has become one of the most expensive cities in the world to rent a home, prompting politicians to call for New York-style controls on landlords. In 18 of London’s 33 boroughs, the median rent for a one-bedroom flat is more than £1,000 a month, government statistics show. In Greater London, the rent for a one-bedroom flat has risen by an average of 22% over the past five years, the Valuation Office Agency data reveals. Rent controls – or rent stabilisation, as it is referred to in New York – are not caps on monthly rent: they are usually restrictions on in-contract rent increases and lease conditions, such as length of tenancy. This prevents landlords pushing rents up to overheated levels. Read more on the Guardian website.