Newly released figures have revealed that as of May 2020, 47% of properties in the private rented sector are now managed by ARLA Propertymark members.
According to the latest English Housing Survey published by MHCLG, there are currently 4.8m private rented homes. ARLA Propertymark has a total of 10,219 branches within its membership in England, with an average of 221 properties managed per branch. As a result, ARLA Propertymark members manage 2,258,399 properties, equalling 47% of the private rented sector in England.
David Cox, Chief Executive, ARLA Propertymark comments: “It’s extremely encouraging to see such a large proportion of the sector actively seeking greater regulation and professional standards than the law currently demands through choosing to be a member of ARLA Propertymark. This is especially important in our current uncertain climate where collaboration between the Government and private rented sector is more crucial than ever, and as the Government seeks to introduce Regulation of Property Agents.”