London Mayor Boris Johnson has published the final version of his London Rental Standard, which will mean a huge push of all landlords and agents towards voluntary accreditation.
London Mayor Boris Johnson has published the final version of his London Rental Standard, which will mean a huge push of all landlords and agents towards voluntary accreditation.
Agents who sign up to the Standard must have Client Money Protection insurance. They will also have to be transparent about their fees, but these will not be banned, and Johnson has turned down the idea of rent controls – despite considerable pressure.
Existing accredited landlords and agents – various accreditation schemes are run by individual boroughs across London – will be ‘passported’ into the London Rental Standard over the course of this year. A major marketing campaign to encourage more to sign up will begin early next year.
The Mayor’s target is to have 100,000 accredited landlords and agents by 2016.
The Mayor’s London Rental Standard is the first ever comprehensive standard for private renting across London. Covering landlords and letting agents, and incorporating all of the main industry schemes, the standard will trigger a massive increase in accreditation and standards in the capital.
I guess the trouble is as its a voluntary scheme, the good landlords who do the right thing already will sign up. Its the bad landlords that probably wont sign up and will continue to not abide by decent standards and treat their tenants poorly. But its a step in the right direction.
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