London Mayor sets out Private Rented Sector proposal
December 21, 2012
Boris Johnson, The Mayor of London, sets out to empower tenants and landlords with Private Rented Sector proposals.
Nearly 1 in 4 Londoners live in the Private Rented Sector and that number is projected to increase to 37% by 2025. The Mayor has recognised that the Private Rented Sector is important to those working in London who contribute to the city’s economic success.
The Mayor has called for the establishment of a new deal with landlords, letting agents and tenants based around a voluntary and transparent ‘London Rental Standard’ (LRS), which will be consulted on with the industry and launched next year by the GLA.
The LRS details 12 core commitments, including minimum expectations around protection of deposits, provision of contact details, emergency and urgent repairs response times, property conditions, complaints handling, fee transparency, as well as landlord and letting agent training and development through professional training courses.
The Mayor believes the majority of landlords offer professional services to their tenants, with around 68% of Londoners reporting that they are either satisfied or very satisfied with their landlord. However, with a large number of landlord and letting agent accrediting organisations, the Mayor wants to establish a set of ambitious universal standards that renters should expect from any accreditation scheme operating in the capital, matched with incentives for landlords to join….
The full Press Release can be found here…