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Boris Johnson officially launched the London Rental Standard (LRS) scheme yesterday, although the scheme actually went ‘live’ on Monday. Otherwise known as the ‘Boris Badge’, the LRS scheme is designed to be an accreditation scheme for so-called ‘good landlords’ in London.
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The LRS is linked to the Residential Landlords Association Accreditation Scheme (RLASS) throughout England and Wales, so if you are already registered as an accredited landlord with the RLASS, you automatically qualify for a Boris Badge, even if none of your rental properties are in London.
What is the Aim of the London Rental Standard?
According to the LRS:
“The aim of the London Rental Standard 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 voluntary scheme will offer a consistent standard of landlord accreditation in the private rental sector. The intention is to encourage good landlords and reward them for their hard work and investment in the sector. The LRS hopes to attract as many as 100k landlords in London over the next few years.
Is the LRS Good for Landlords?
It could be good for business to register for a London Badge. The Greater London Assembly (LGA) plan on encouraging tenants to use accredited landlords in the future, so landlords who don’t have a Boris Badge could miss out.
