A voluntary scheme aimed at improving rental standards has been criticized after only 12% of London landlords signed up in a year. City Hall said as of May 2015, 14,350 of private sector landlords had signed up to the London Rental Standard. Labour said the scheme was "failing renters" and the mayor's pledge to sign up 100,000 landlords by May 2016 would take decades. The standard, launched last May, offers letting agents and landlords a badge if they meet a set of criteria, including improved property conditions and quicker repairs and maintenance. Meanwhile, a report from Kent Reliance shows that Britons who rent out homes they own are banking a total of almost £4bn a month from their properties. Average monthly rents rose 3.9% in the first quarter of the year to £832.
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