Pete Mason, Barking Reach Residents Association chair
Argent House tenants on the Barking Riverside estate in east London face a shocking 34% rent increase over two years – with a 20% rise this April alone. This is just 13 months after a 14% increase in March 2024.
Residents, many on the minimum wage, say the hikes are unaffordable, leaving some paying 81% of their income in rent. A full-time worker, earning the new minimum wage, would be left with just £352 for food, bills, childcare, and everything else, after rent.
Unlike previous years, tenants received no advance notice of the increase, leaving them no time to seek alternatives. When challenged, L&Q’s property manager claimed the rise was based on “current market rates”. The Barking Reach Residents Association calls this an “extortion racket”, due to homebuilders’ land banking, and profit-driven landlords pushing rents beyond reach.
Despite promising social housing tenants a 2.7% cap (CPI inflation + 1%), L&Q’s private rental arm imposed far higher increases to its shorthold tenants. With £1.1 billion in annual turnover – partly funded by housing benefits – residents argue L&Q can afford to freeze rents.
Barking Reach Residents Association demands:
- Immediate reversal of the 20% increase
- Rent rises capped at 2.7%, in line with L&Q’s social housing policy
- Long-term solutions, including public ownership of housing associations, to ensure affordability
Homebuilders and housing associations should be nationalised, under the democratic control of the working class. No one should spend 80% of their wages on rent, while landlords profit and homelessness rises.
With more tenants fearing similar hikes, pressure is mounting on L&Q to act.
