Businessmen making money out of housing properties have objected directly against the Government taking preparation of increasing social housing rent rates to as high as the ones in private sector ones. Renters renting housing properties in the social sector would be highly affected by the increase in rent rates that is likely to get as high 80% of what people are usually charged in the private sector.
The money that would be secured through the excess rates would be utilized in building over around 150,000 easy affordable houses which are on their way of completion within the next 4 years. However the excess that would be charged from the tenants are causing a great roar of anger to arise amongst housing community as many are likely to get affected by the sudden changes in housing plans.
It is estimated that rent would be increased to triple the amount. Many fear that would only reduce tenants’ interests in social sector. This would only end opportunities of getting affordable rents in London. Real estate renting would rather become a problem for tenants looking for budget apartments.
