One of the biggest causes of the cost of living crisis in our country is the price of renting or buying a home. That’s why a Labour government will make sure that Britain builds 200,000 more homes a year by the end of the next Parliament so that more families can fulfil their dream of home ownership.
Nine million people are living in rented homes today, over a million families, and over two million children. 28% of households in Oxford are private rented. With tenants in Oxford facing rip-off fees from lettings agents and insecure tenancies, Labour has announced the biggest change in a generation to make the system fairer for renters.
The next Labour government will ban letting agents’ fees for tenants, saving renters on average £350 in costs, and will legislate to make three year tenancies the standard in the British private rented sector to give people who rent the certainty they need.
Andrew Smith MP said: “While the Lib Dem / Tory Coalition Government refuses to act, a Labour Government will give families the security of a longer tenancy and predictable rents to stop excessive rises so that they can manage tight family finances and plan ahead. If you buy your home, most estate agents will not charge you fees, but people in Oxford who rent are given no protection and they get charged £350 on average. That’s a lot of money for a lot of people and that’s why Labour will legislate to ban these rip-off charges by letting agents.”