The private rented sector (PRS) is now the second biggest form of housing tenure in the UK and, with a fundamental growth in population, a fall in the availability of social housing and the increased inaccessibility of home ownership, there has been growing scrutiny of the sector and a call for it to become a more mature market offering good value for money along with security of tenure and properties which are let in good condition, however what is required is a better understanding of the sector by those powered to make changes.

Supported by leading members of the industry, including Savills, Kate Faulkner of Designs On Property has published an independent report on the private rented sector (PRS), the results of which were released on 4 February. In it, she calls for ten changes to help solve some of the key issues facing the industry in an effort to improve the PRS, driven by excellence, enforcement and education.

1. Fifteen clear, easy to understand checks, that a rental property is legally let, especially regarding electrical checks.

2. Compulsory client money protection for all letting and managing agents.

3. A taxation system where rented properties are treated as businesses, encouraging landlords to invest.

4. A rental market free from controls 5. A tick box on council tax forms to say a property is rented.

6. All landlords and letting agents must adhere to the same standard within the self-regulated sector, e.g. place the PRS code on the statute books and ensure all letting agents sign up to the Landlord Rental Standard.

7. Existing and new regulations to be enforced with a realistic budget, e.g. penalty notices for tenant/landlord offences, proceeds to be kept by the local authority and re-invested in further enforcement and education 8. Cross government, industry and organisations agree to educate tenants and landlords from one source.

9. Ensure the ‘how to rent’ guide is included in the national and higher education curriculum under Pfeg and NUS.

10. Mandatory CPD training for all involved in the PRS (e.g. lenders, insurers, landlords, letting agents, charities, housing associations) on property conditions and maintenance, e.g. working with organisations such as Peter Cox and CFOA.

Theresa Wallace, Head of Compliance for Savills Lettings, comments: “This report has outlined that whilst the PRS works well for most tenants and landlords, it does fail a proportion. The key challenges remain that over 35% of lettings agents are not members of a professional regulatory organisation; that one in five landlords have no income challenging their affordability; and that tenants who are forced to rent outside the self-regulated sector, compromise their rights and the responsibilities of their landlords.”

Ryan Toms, Head of Savills Rickmansworth and Northwood Lettings, adds: “These ten changes will help solve some of the key issues that face the industry and make for an improved PRS, driven by excellence, enforcement and education. As always, our advice to both tenants and landlords is to use a agent that belongs to a professional regulatory organisation such as ARLA, RICS or NALS, in order to ensure their rights and responsibilities are respected.”

* ARLA, NALS, British Property Federation, RICS, The Property Ombudsman Ltd (TPO), Belvoir, Chestertons, Concentric Lettings, Countrywide, Leaders, Knight Frank, Savills and Your Move all support The Private Rented Sector 360 Degrees report by Kate Faulkner