7 Conclusion
151. Policy and regulation on the private rented
sector have developed organically over a number of years. Given
how much the sector has grown over the past decade and that growth
looks set to continue, it is time to step back and consider how
the private rented sector can be supported to better meet the
needs of those who live in it. In Germany, we saw a much more
mature market, better able to meet the needs of tenants. We are
not advocating the application of the German model to England
but it shows what can be achieved when a private rented sector
market matures and functions well. The German private rented sector
took years to reach that point, and change in England will not
happen overnight, but we need to encourage its growth and to ensure
it matures to meet the needs of many more than it has in the past.
To do so requires change in a number of areas. There are five
key points on which we expect to see action:
- getting the law right, by reviewing
and simplifying the legislation covering the sector, and promoting
awareness of rights and responsibilities;
- giving local authorities the tools they need
to enforce this law and raise standards across the sector;
- better regulation of letting agents, and a crackdown
on unreasonable, opaque fees and charges;
- a cultural shift towards longer tenancies, with
a more consistent and predictable approach to setting rents; and
- a renewed effort to boost housing supply, with
the aim of increasing choice, quality and affordability across
the private rented sector.
We hope that these measures, taken together, will
lead to a more mature market. This, in turn, will make the private
rented sector a better place to live and an attractive alternative
to owner occupation.
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