According to a recent Paragon Bank research study, six out of 10 landlords are in favour of implementing a minimum set of property standards, the Decent Homes Standard, for the private rented sector.
The survey involved over 500 landlords, with 34% expressing strong support for the measure, and 28% offering general support.
A small percentage, 8%, were not aware of the plans to introduce minimum standards to the sector.
The UK Government has committed to introducing a Decent Homes Standard for privately rented properties as a part of its Renters Reform Bill.
The Government has sought consultation on potential measures and the sector is currently awaiting further developments.
Landlords have also voiced their frustration at the lack of action taken to address rogue elements within the sector. Nearly three-quarters (74%) feel that Local Authorities do not take sufficient action against landlords who provide sub-standard housing.
The private rented sector has seen a significant improvement in housing standards over the past 15 years, coinciding with the growth of buy-to-let finance, which is examined in Paragon’s new report, “Raising the Standard of Privately Rented Property.”
In 2008, 44% of homes in the sector were deemed non-decent according to the Government’s English Housing Survey. Today, that figure stands at 23%.
The number of good quality homes has increased, thereby diluting the presence of substandard properties.
In 2008, 1.8 million privately rented homes were classified as decent, rising to 3.3 million in 2021 – an 83% increase. Additionally, the number of non-decent properties has decreased from 1.4 million to 990,000 – a 29% reduction.
The Decent Homes Standard was initially introduced for the social housing sector in 2001, resulting in the proportion of homes not meeting the standard decreasing from 39% in 2001 to 13% in 2020.
Richard Rowntree, Paragon Bank managing director of mortgages, said: “The vast majority of landlords have nothing to fear from a Decent Homes Standard as they are providing a good quality home to their tenants already.
“It’s the minority of landlords who don’t meet these standards that are tarnishing the wider reputation of the sector.
“At Paragon, we employ our own in-house team of surveyors, who assess a rental property to a stringent standard, so we act as a natural barrier to poor quality homes entering the sector.
“Landlords have made great strides in improving the standards of rental property over the past 15 years and they should be celebrated.”
