The London Rental Standard scheme was launched yesterday, backed by London’s mayor, Boris Johnson, and implemented by the GLA.
The scheme aims to raise professional standards in the rental market by encouraging landlords and letting agents to become accredited and by creating more transparency and reassurance for tenants. The Standard endorses financial protections, improved building conditions and effective daily property management.
The capital’s 2 million renters cover a wide cross-section of society, and the private rented sector is increasing rapidly. This calls for a secure framework to control and manage the rental market.
The LRS is amongst a number of developments looking to create such control, along with other developments such as rental property management software. The standards expected to be upheld by landlords and letting agencies through the LRS make renting a far more appealing prospect in the capital.
London’s mayor, Boris Johnson, has said, “The vast majority of the capital’s landlords provide a highly professional service, but with a vast array of accreditation schemes there is a strong case for landlords and letting agents to get round the table to agree a set of ambitious standards that will empower them and their tenants.” The launch of the LRS is evidence of the fruition of this case.
With effective property management and landlord-tenant dynamics in the spotlight after this launch, Arthur offers a further solution for all people under the wide umbrella of property.
Arthur is the best property management software on the market, aiming to maintain high standards in the rental sector and ease communication between all parties.
If you are a property manager, property owner, landlord or letting agent, your business will save time and money by using Arthur. Try out the free Arthur Demo today to see how!