According to the BBC, City Hall claims that the London Rental Standard scheme, which was set up last year, is not working. Only 14,350 landlords have signed up to the scheme, which is far less than the 100,000 landlords expected to join.
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What is the London Rental Standard? The London Rental Standard is an accreditation scheme whereby landlords and letting agents that tick all the boxes and are therefore ‘good’ landlords can display a badge to show potential tenants they are offering a high-standard rental experience. Criteria include quick repairs and improved property conditions. Landlords who voluntarily sign up can also enjoy discounted landlord insurance products from Endsleigh Insurance Services and discounts with my-deposit.
Deputy Mayor Says Scheme is a Success Despite the sign-up figures, the deputy mayor of housing, Richard Blakeway, still believes the scheme has been a rip-roaring success:
“Most landlords own just one property, whereas signing up a single branch of a letting agency reaches an estimated 200 homes.
“This is a huge success in one year and we look forward to working with thousands more landlords and agents to help get a better deal for renters as this scheme grows.”
Labour Disagrees The Labour contingent of the London Assembly disagrees, however. They say that the majority of landlords who have signed up to the scheme are already members of linked accreditation scheme, so in reality, only around 1,000 of landlords are genuine ‘new’ sign-ups.
“We need real change in the private rented sector,” says Tom Copley.
“Londoners need the peace of mind and security of longer tenancy agreements, caps on rent increases and an end to no fault evictions. Instead, Boris Johnson’s soft touch and self-regulatory approach is leaving private renters with little protection from bad landlords.”