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New ratings scheme for private rental properties


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30 Sep 2013

A new system called ‘Rental Ratings’ – which will score private rental properties out of five - is to be launched in the UK.

The firm behind it say it is an attempt to self-regulate the sector and could be used by local councils as an alternative to licensing.

Rental Ratings, will work like the one to five star rating system for hotels, enabling tenants to see the quality of properties more easily.

The rating, which will be paid for by the landlord, will last two years before being reviewed.

Independent inspectors will use various criteria such as size, location, condition, outside space and car parking to calculate the score.

“It’s a game changer. It will give agents and landlords a brand new marketing tool. Rentals will no longer be priced just on location and the number of bedrooms as at present,” says Kirsty McGregor, the brains behind the scheme.

“Poor quality properties will be highlighted – just as a ‘no star’ rating in the hotel industry speaks a thousand words.

“I also think it could help increase standards. In time, if the private rented sector gets behind this as a way of demonstrating quality properties, local authorities could direct their efforts and resources to those landlords who choose not to have their properties rated.”

Letting Agents will be able to offer the scheme to their landlord clients as part of their service to them.

If you have recently invested in rental property, then make sure you get it covered with Discount Landlord. 


 
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