As a landlord, I have been following the correspondence regarding re-introducing rent controls with interest (Letters, September 7). I have to agree (obviously) with Mike Stimpson that the introduction of controlled rents would inevitably lead to a reduction in rented accommodation.
I let a spacious two-bedroom flat in a well-kept purpose-built flat in Hove. I charge £850 a month – ie, £10,200 a year.
Out of this, I have to pay a maintenance fee of £1,500, leaving me £8,700 to pay for repairs, safety checks and, eventually, redecorating and replacement appliances.
The flat is worth at least £250,000 so, even using £8,700 as my return, the yield is only 3.48% – hardly excessive. I really don’t think many people would invest for any less.
Rather than discuss the symptom (high rents), why not discuss the cause?
High rents are caused by high property prices and these are caused by an excess of demand over supply. Governments have encouraged mass immigration (the demand) while at the same time refusing to build council houses (the supply) for people to live in. The result is the chaos we now have.
So what do we want to do? Do we, over time, seek to manage our population downwards? Or do we want to build all over Sussex? Can we have the debate?
J Sayers, Addison Road, Hove
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