Ending the wait

With more than 1 million families already living in the private rented sector, compared with less than half that a decade ago, it is clear the sector has changed considerably. But with the housing crisis growing by the day, a shortage of social housing with the combination of low wages and high prices continuing to lock people out of homeownership, it is clear many more people have no choice but to rent for a longer period.

The government needs to get the economy moving and build homes. That’s why Ed Miliband and Ed Balls have called on government to bring forward investment in infrastructure, including housing, and to repeat the bankers’ bonus tax to build (initially) 25,000 affordable homes and create 100,000 youth jobs.

That said, Labour believes the growing number of tenants in the private rented sector should not have to wait for more homes to be built in order to have an affordable, stable and decent home. Labour’s plan to regulate letting and management agents represents just the first step towards a private rented sector that better meets the needs of tenants.

Through regulation, tenants and landlords will be protected and can be confident their money is safe. There will be no place for unscrupulous agents who rip off tenants and landlords and undercut their more reputable counterparts. Second, by tackling rip-off fees we will ensure the sector is more affordable. Third, by ensuring only responsible agents can operate, we will drive up standards of properties and increase stability as agents who encourage churn for fees become a thing of the past.

But this is just one part of the change that is needed. That’s why we will shortly bring forward further proposals to ensure the private rented sector provides homes of a decent quality, as well as the stability and affordability families need.

Jack Dromey is shadow housing minister