The Future of Private Renting Shaping a fairer market for tenants and taxpayers Daniel Bentley January 2015 Civitas: Institute for the Study of Civil Society The Future of Private Renting • 1 Author Daniel Bentley is a former political correspondent for the Press Association and is now director of communications at Civitas. He was the co-author, with David G Green, of ‘Finding Shelter: Overseas investment in the UK housing market’ (2014). Acknowledgements This paper benefited enormously from the refereeing process, the participants of which should remain anonymous but know who they are. Thanks are also due to various colleagues and acquaintances who offered very helpful comments on earlier drafts, including Anastasia de Waal, Joe Wright, Jonathan Lindsell, Matthew Whittaker and Vidhya Alakeson. Any errors remain, of course, my own. 55 Tufton Street, London SW1P 3QL T: 020 7799 6677 E:
[email protected] Civitas: Institute for the Study of Civil Society is an independent think tank which seeks to facilitate informed public debate. We search for solutions to social and economic problems unconstrained by the short-term priorities of political parties or conventional wisdom. As an educational charity, we also offer supplementary schooling to help children reach their full potential and we provide teaching materials and speakers for schools. Civitas is a registered charity (no. 1085494) and a company limited by guarantee, registered in England and Wales (no. 04023541) www.civitas.org.uk The Future of Private Renting • 2 Contents Summary .................................................................................................... 3 Introduction ................................................................................................. 5 Chapter 1: Background – the rejuvenation of private renting ....................... 8 Chapter 2: Costs and consequences of the new landscape .....................