The London Rental Standard has now been launched whose aim is to raise professional standards in the capital’s private rented sector by providing a consistent standard of accreditation to consumers and a vehicle for increasing the number of accredited landlords and agents. The London Rental Standard offers a voluntary way into accreditation for both landlords and letting / managing agents.

The Private Rented Sector Accreditation Scheme provided by the Guild of Residential Landlords has formally requested a licence to accredit landlords & agents and allow them to display the London Rental Standard badge. There should be no reason why the licence won’t be approved. The PRSAS says that anybody who joins from today (28 May 2014) onwards in London will get a full refund of the accreditation fee if the license is refused for any reason but they will remain accredited with the PRSA scheme. [1]

According to the introduction of the defined London Rental Standard:

The London Rental Standard will underpin a major expansion in landlord and agent accreditation, support the development of a single badge of accreditation for all accrediting organisations, and help to expose the small minority of rogue landlords and agents who neglect their responsibilities. It will be implemented by the Greater London Authority (GLA) in partnership with boroughs, the industry and tenant bodies. Consumers will benefit from increased transparency, accountability and redress, while landlords and agents will benefit from incentives, training and a commercial advantage in a highly competitive market. The aim is for the London Rental Standard to be adopted by all accreditation organisations so that there is consistency across the entire sector.