Propertymark has renewed its warning that rent controls would cut landlord confidence and reduce the supply of private rented homes, as debate over intervention in the rental market continues to build.
In a policy paper published on 11 August, the trade body argued that capping rents may offer short-term relief to some tenants but would do little to solve the underlying shortage of homes. For landlords, the immediate issue is that any cap changes the expected return from a property at a time when costs, tax and compliance pressures are already weighing on investment decisions.
Propertymark said the answer to affordability lies in increasing supply, retaining landlord investment and avoiding measures that encourage owners to sell or switch tenure. That matters for investors because rent control proposals are no longer confined to academic debate – they are increasingly part of mainstream housing politics.
Propertymark points to supply risks in rent control debate
The organisation said rent controls can reduce mobility, make access harder for new tenants and discourage improvements where landlords cannot see a workable return. Its paper cited evidence from San Francisco, Berlin and Catalonia to argue that even where sitting tenants gain some protection, the wider market can tighten as homes leave the rental sector or fewer are offered to let.
Propertymark, said rent pressures are real but controlling the price of a scarce product does not create more homes, and warned that weaker investment would make it harder for tenants looking for a new tenancy.
This follows Residential Landlord’s July coverage of IPPR’s proposed rent cap model, which highlighted how policy discussion is shifting from emergency intervention to more permanent frameworks. The latest Propertymark intervention adds to that picture by setting out the landlord-side case against controls before England moves any closer to a formal consultation.
Propertymark said governments should focus instead on boosting housing supply, reviewing taxes that discourage landlords from staying in the market, keeping Local Housing Allowance aligned with real rents and supporting property improvements. In practice, that is a call for a more investment-friendly framework rather than another layer of price control.
What the warning means for landlords watching policy risk
For landlords, the significance is less about an immediate rule change and more about the direction of travel. A rent control framework in England is not in place, but repeated public debate raises the risk that investors start pricing in future restrictions on income growth.
That uncertainty can feed directly into portfolio decisions, especially for landlords already weighing higher borrowing costs, licensing fees and compliance work. It can also affect improvements, because owners are less likely to commit fresh capital where future rental growth is less predictable.
Residential Landlord has already reported on recent rent control pressure in Greater Manchester, showing that the issue is moving through regional and national politics at the same time. Propertymark’s latest paper suggests the sector now sees the main battle as preventing a Scottish-style policy route from taking hold elsewhere.
Its full paper, Rent controls treat the symptom, not the housing shortage, argues that stable regulation and stronger supply are more likely to improve affordability than capping rents.
Opinion
Landlords will read this as another sign that rent control is no longer a fringe idea. Once policymakers start talking about caps, the market starts adjusting before any law is written. If ministers want more homes to stay in the sector, they need to think hard about that signal.
