The Greater London Authority has taken the decision to discontinue the London Rental Standard (LRS), an accreditation that LuxuryDigs was a party to.
Communication from the Mayor of London office states:
“Although many letting agents became accredited to the LRS, these agents were predominantly already affiliated to professional bodies suggesting the scheme had minimal impact in raising standards amongst the worst letting agents and landlords. As a result the current administration feels that there would be limited value in continuing to dedicate scarce GLA resources to this project.”
It has been sighted that lack of consumer awareness and understanding of the scheme, along with its voluntary nature limited this accreditation from taking off.
Sanjeev Patel, Managing Director of LuxuryDigs states “We are sad to see this voluntary accreditation which signaled high standards disappear but we’d like our clients to know that LuxuryDigs remains a member of ARLA Propertymark and also the Property Redress Scheme.”