Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
Propertymark Warns PRS Database May Raise Costs Without Raising Standards
Propertymark has raised concerns that the proposed Private Rented Sector (PRS) Database could increase costs for landlords and letting agents without delivering improvements in standards. The industry body has cautioned the government against duplicating information already collected through selective licensing schemes.
According to Property118, Propertymark is urging that the PRS Database must be workable for both landlords and letting agents. The organisation warns that requiring all landlords to sign up for the database, as set out under the Renters’ Rights Act, could add to workloads without necessarily leading to better standards in the sector.
Propertymark specifically highlights the risk of duplicating existing information, which could result in additional administrative burdens for those operating in the private rented sector. The group is calling for careful consideration to ensure that any new requirements do not simply replicate what is already in place through selective licensing.
This development is particularly relevant for UK letting agents and inventory clerks, who may face increased administrative responsibilities if the PRS Database is implemented as currently proposed.
Source: Property118