In a recent research study by Paragon Bank, a considerable number of landlords expressed their support for the implementation of a minimum set of property standards, known as the Decent Homes Standard, for the private rented sector. The research involved more than 500 landlords, and a staggering 60% of them showed their support for the proposed standards, with 34% offering a robust expression of support, while 28% expressed general support. Conversely, a meagre 8% were not aware of the potential measures to be introduced to the sector.

As part of its Renters Reform Bill, the UK government has committed to introducing the Decent Homes Standard to privately rented properties. However, the Government has sought consultation on potential measures, and the sector is currently anticipating further developments in this regard.

Nevertheless, landlords have expressed their frustration over the lack of action taken to address rogue elements within the sector, as a significant 74% of them believe that Local Authorities do not take sufficient action against landlords who provide sub-standard housing.

Despite the concerns, the private rented sector has seen a remarkable improvement in housing standards over the past 15 years, primarily coinciding with the growth of buy-to-let finance, which is examined in Paragon's new report, "Raising the Standard of Privately Rented Property." According to the Government's English Housing Survey, in 2008, 44% of homes in the sector were deemed non-decent, compared to a substantial reduction to 23% in 2021. The increase in good quality homes in the sector has contributed significantly to diluting the presence of substandard properties. Moreover, the number of non-decent properties has seen a 29% reduction, dropping from 1.4 million to 990,000, while the number of privately rented homes classified as decent has seen an 83% increase, rising from 1.8 million in 2008 to 3.3 million in 2021.

The Decent Homes Standard was initially introduced in 2001 for the social housing sector, resulting in a decrease in the proportion of homes not meeting the standard from 39% in 2001 to 13% in 2020.

According to Richard Rowntree, Paragon Bank's managing director of mortgages, "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."