B1 Dispute Over Rent Rise Tenants and landlords squared off at the Rent Guidelines Board's annual hearing over the city's proposal for the largest rent rise in four years.
Low-rise tenants worry that the stadium planners' high-rise hotels and office towers, as well as the possible inclusion of a relocated Madison Square Garden, could inspire more luxury development, displacing working-class residents.
High rise tenants are being ignored like we were, say Grenfell survivors.
As rents rise, many tenants are forced to move.
During the inflationary years of the 1970's landlords were trying to pass on rising costs to tenants, each in proportion to the amount of space they occupied, recalled Robert F. R. Ballard, an executive vice president of Cushman & Wakefield, the brokerage and services company.
The scale of the homelessness pressures facing local authorities in London was highlighted last year when Westminster council revealed it was seeking to acquire 2,000 homes to cope with the rising numbers of tenants made homeless by local housing allowance caps, which limit payments £500 a week.
David Newnes, of LSL, who owns letting agents Your Move and Reeds Rains, says the supply of rental properties has not increased enough to keep pace with the rising number of tenants.
For example, London and south-east agency Foxtons charges landlords 13.2% of the annual rent for finding a tenant, rising to 20.4% if the landlord also wants the agency to manage the property.
The risk for buy-to-let borrowers is not only rising mortgage costs, but tenants failing to pay the rent.
So when the board pushed through double-digit increases because of inflation and rising fuel costs, apoplectic tenants nicknamed him Marvin Markup.
