Landlords raked in an estimated £85 billion in rent this year, more than double the £40 billion in 2010. The average rent on a new tenancy rose to an eye-watering £1,348 in November, a 10% rise on the year, and another £125-per-month that can’t be spent on food or heating.
Millions live in fear of a dreaded ‘no-fault’ eviction notice, which the Tories ditched their plans to ban in November. Big corporate landlords are rolling in cash, and many smaller ones struggle to keep up with mortgage payments as banks hike rates.
Ultimately, the super-rich get richer and the poorest pay the most. The Socialist Party fights for rent controls now, to bring an end to rip-off rents; and for the building of council homes to meet need, so everyone has access to a decent home.
