Rent Reduction Bill 2023

Public bill · Private Member · Introduced

The Rent Reduction Bill 2023 would cap private rents at no more than a quarter of median monthly household income, using the lower of local or national figures and adjusting for household size. It would create a National Rent Authority, made up of tenant and worker representatives, to calculate the income figures, set household-size rules, and decide which homes count as luxury accommodation; luxury homes, limited to 5% of local rental stock, would be excluded. The new rent limits would apply straight away to new tenancies and within 12 months to existing ones.

Formal long title

Bill entitled an Act to amend the Residential Tenancies Act 2004 to reduce rents to affordable levels by limiting them to a maximum of a quarter of monthly household incomes and to establish a National Rent Authority for this purpose.

Last updated 30 August 2024