Improving London’s Improving London’s private rented sectorprivate rented sectorMerton Private Landlord ForumMerton Private Landlord Forum

Rhona Brown, Senior Policy Officer, GLARhona Brown, Senior Policy Officer, GLA

25 September 201325 September 2013

Introduction

• London’s private rented sector

• The Mayor’s objectives

• London Rental Standard project

Background

• Consultation on Mayor’s plans – Dec 12-Feb 13

• Responses from 80 organisations and 5,000 tenants

• Consultation report published last month

www.london.gov.uk/housingcovenant

Growth in private renting

Growth in private renting - projection

0%

10%

20%

30%

40%

50%

60%

70%

1961 1971 1981 1991 2001 2011 2021

Owneroccupied

Socialrented

Privaterented

Overcrowding in the PRS

Prices up, rents up, earnings downPrices up, rents up, earnings downHouse prices

Inflation

Rents

Earnings

Families in the PRS

Mayor’s approach

The Mayor’s objectives

• New housing supply

• Promoting longer tenancies

• Improving letting agent market

• Tackling rogue landlords and beds in sheds

• Improving accreditation

London Rental Standard

•Robust and realistic minimum standards

•All industry schemes under one roof

•‘Single badge’ of accreditation

So, where are we now?

• LRS steering group• London Landlord Accreditation

Scheme• Passporting• Incentives• Marketing campaign