Member

However, I must challenge the noble Baroness on the administrative burden that her amendment would introduce, whether she envisages that the proposed body sets the maximum rent for each privately rented property or, less directly, sets the rules by which landlords calculate their rents. This proposal undoubtedly represents a significant expense to be borne by either the taxpayer or the sector. It is not clear what positive difference this proposal would make to renters. Most landlords already seek to set rents in accordance with market conditions, based on a consideration of the many factors—including property size, condition and location—set out in this amendment. If the intention underlying this amendment is to hold rents below the market rent, the evidence available suggests that this would reduce supply, discourage investment and lead to declining property standards. This would be to the detriment of landlords and tenants.