According to new research by Paragon Bank, landlords are spending an average of £8,500 a year on property improvements — a sign of continued commitment to raising standards across the private rented sector (PRS).

Key Findings at a Glance:

• 44% of landlords prefer buying ‘doer-upper’ properties needing improvement.

• 25% go for homes that are ready to rent.

• 32% are open to either strategy

These insights come from Paragon’s recent report: Improving Standards and Sustainability in PRS Properties.

How Much Are Landlords Spending?

Investment varies by portfolio size:

• 1–3 properties: £3,500 per year

• 4–10 properties: £8,100 per year

• 11+ properties: £11,800 per year

This ongoing investment is in addition to routine maintenance and aligns with government data showing a 20% reduction in ‘non-decent’ PRS homes over the past 15 years — now down from 41% to 21%.

What Are Landlords Improving?

Internal upgrades top the list:

• 76% have installed new boilers

• 65% have fitted new bathrooms

• 62% have updated kitchens

• Just 3% have installed heat pumps

External works include:

• 50% have fitted new windows

• 39% replaced roofs or external doors

• 27% landscaped gardens

• 6% extended their properties

Health & Safety Improvements:

• 54% resolved damp issues

• 22% addressed structural concerns

With upcoming changes under Awaab’s Law, landlords will face stricter requirements to deal with hazards like damp and mould quickly — making these improvements both timely and necessary.

💬 These figures show that most landlords are not only maintaining their properties but actively investing to improve them — which will be vital as new legislation raises the bar on housing standards.