Sadiq Khan was definitely one of the most vocal candidates when it came to tackling the issues in London’s growing private rented sector.
Khan has already acknowledged that this sector of the housing market desperately needs attention, and he seems to emphasise his focus on offering a better deal for London’s renters.
In his manifesto, Khan pledged to support longer tenancies, work with councils to develop landlord licensing schemes, name and shame rogue landlords and create a London-wide not-for-profit letting agency for ‘good landlords and responsible tenants’.
However, it is the London Living Rent, capped at one-third of local tenants’ income, which deserves most attention.
The rent-to-income gap has grown so large in London that London Living Rent will actually require huge discounts above and beyond the existing 20% discount for ‘affordable’ homes, and many in the industry have serious doubts about the viability of this particular policy.