Paragon Bank research reveals that 62% of landlords support the establishment of minimum property standards for the private rented sector. The study, which surveyed over 500 landlords, found that 34% strongly back the idea, while 28% generally support it. Meanwhile, 8% were unaware of plans to introduce minimum standards.

As part of its Renters Reform Bill, the government has pledged to create a Decent Homes Standard for privately rented properties and has sought input on potential measures. Landlords now await the next steps.

Additionally, the survey indicated that 74% of landlords are frustrated by the lack of action from local authorities against landlords who rent out substandard homes.

The private rented sector has seen significant improvements in housing quality over the past 15 years, with buy-to-let finance playing a role in this progress. Paragon’s report, Raising the Standard of Privately Rented Property, explores these developments.

According to the government’s English Housing Survey, the percentage of non-decent homes in the sector has dropped from 44% in 2008 to 23% today. The number of decent privately rented homes increased by 83% between 2008 and 2021, from 1.8 million to 3.3 million. At the same time, non-decent properties declined by 29%, from 1.4 million to 990,000.

A Decent Homes Standard was introduced for social housing in 2001, leading to a reduction of homes not meeting the standard from 39% in 2001 to 13% in 2020.

Richard Rowntree, Paragon Bank Managing Director of Mortgages, noted that the majority of landlords already provide good quality homes to tenants, so they have nothing to fear from a Decent Homes Standard. He emphasized that it is only the minority of landlords who fall short of these standards that harm the sector’s reputation. Rowntree praised landlords for their efforts in enhancing rental property standards over the past 15 years.