“We oppose strict rent caps because, although they may appear to make housing more affordable, they could create unintended consequences. Limiting rental income could discourage landlords from investing in, maintaining and renovating their properties. Some may sell or withdraw their properties from the rental market, reducing the supply of homes. Developers could also become less willing to build rental housing if returns are restricted. Over time, this could lead to housing shortages, longer waiting lists and greater difficulties for families, workers and young people. Reduced investment could cause housing quality to decline. Instead of rigid price controls, our Conservative Party would focus on increasing housing supply, encouraging construction and investment, bringing empty properties back into use, and providing targeted support to those facing financial difficulties. Our goal is to make housing more affordable without damaging the rental market.”
Rent Control Hard Cap Act of 2024
Rationale
Hard rent caps protect tenants from excessive rent hikes, ensuring housing remains affordable and reducing homelessness in high-demand areas.
Proposed Changes
| Law | Previous | Proposed | ||
|---|---|---|---|---|
| 1 | Rent Control |
Light stabilisation, mostly market rents
|
Hard caps on rents
|
1
Rent ControlProposer
Party
Labour Of Varelia
Labour Of Varelia plants prosperity in every classroom and every handshake. Walls hold strong borders while minds reach farther than the eye can see.
Core pillars
Hugo Buchanan
Activist · Age 43
A former military officer turned investment banker who left finance after a viral rant against corruption went viral, becoming a reluctant but fiery advocate for radical reform.
Timeline
-
Draft3 February 2024
-
Vote Open3 February 2024
-
Vote Closed3 April 2024
-
Became Law3 April 2024
Vote tally
Live tally across each chamber. Weighted by seats held.
Parliament
PassedFor: 203 / 360 seats (56.4%)
Against: 0 · Abstained: 0 · Not voted: 157
| Party | Seats | Vote | Reason |
|---|---|---|---|
| Labour Of Varelia Proposer | 203 | Yes | No reason given |
| The Royal Conservative | 0 | No | We oppose strict rent caps because, although they may appear to make housing more affordable, they could create unintended consequences. Limiting rental income could discourage landlords from investing in, maintaining and renovating their properties. Some may sell or withdraw their properties from the rental market, reducing the supply of homes. Developers could also become less willing to build rental housing if returns are restricted. Over time, this could lead to housing shortages, longer waiting lists and greater difficulties for families, workers and young people. Reduced investment could cause housing quality to decline. Instead of rigid price controls, our Conservative Party would focus on increasing housing supply, encouraging construction and investment, bringing empty properties back into use, and providing targeted support to those facing financial difficulties. Our goal is to make housing more affordable without damaging the rental market. |
| Empty seats | 114 | Not voted |