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Tuesday, 3 February 2015

Labour claim 'Generation Rent' will be £2.5 billion better off if there is a Labour government.

Ed Miliband and Emma Reynolds will today set out the action, they say, a Labour government will take to help Generation Rent if the party is returned to power in May. Labour claim their proposals will save 'generation rent' £2.5bn which is an average of £624 for a typical renter. Labour are proposing:
  • Ban rip-off letting agent fees for tenants
  • Legislate for three-year tenancies giving renters a security and peace of mind
  • End excessive rent rises by putting a ceiling on rent increases during the new three-year tenancies.

Making the announcement of Labour's plans Ed Miliband is expected to say: "There are now nine million renting their home and many of them are young people or families just starting out in life. This Generation Rent has been ignored and let down by this government. The amount needed for a deposit on a home has risen beyond the reach of millions of young people and families starting out. As well as building more houses and helping people get on the property ladder, a Labour government will take action immediately to make life better for all those renting their home.

Continuing Mr Miliband is expected to say: "Too often people having to pay hundreds of pounds in letting fees and other upfront costs when they move into their new home. It doesn’t happen when you buy a house – the estate agents’ fees are paid by the person selling - so why are people renting a home having to pay? Moving house is an expensive time anyway and there is no reason why Generation Rent should be ripped by rules which don’t apply to property owners. The first Queen’s Speech of the next Labour government will set out legislation to ban letting agent fees charged to tenants. It will save Generation Rent £2.5 billion over the next parliament. And it will save the typical renter £624.”

On a visit to Hampstead & Kilburn, the first of three in one day, Ms Reynolds will call on Generation Rent to make their voice heard in the election as she kicks off a national campaign to tour key seats with high levels of private renters to highlight Labour’s policies to build more homes, restore the dream of home ownership and deliver a fairer deal for private renters.

Shadow Housing Minister, 
Emma Reynolds, is expected to say: "Nine million people, including over one million families with children, rent from a private landlord, but the truth is they’re getting a raw deal.Renters have to work two days a week – the equivalent of working every day until the 28th May this year – before they pay the rent. But in return they get no stability, poor standards and they have to pay hundreds of pounds in rip-off letting agent fees. Under David Cameron house building has fallen to the lowest levels in peacetime since the 1920s and the Tories have refused to stand-up for Generation Rent."

Continuing Ms Reynolds is expected to say: "Labour is pledging to give private renters a fairer deal. A Labour Government will introduce three year stable tenancies, put a ceiling on rent rises over the course of the contracts, ban letting agent fees on tenants, drive up standards and tackle poor energy efficiency. We are also committed to tackling the root causes of this crisis by getting at least 200,000 homes built a year by 2020. From now until the General Election I will be in key seats talking to voters about our plans for housing. And as part of voter registration week, I will be encouraging private renters, who are one of the most under-registered groups, to get registered so that their voice can be heard in May."

"Generation rent deserves a fairer deal. Only a Labour government is set on delivering it." Emma Reynolds is expected to add.