Who Are the UK’s Landlords?
The demographics of our respondents reveal a maturing sector. The private rented sector is overwhelmingly populated by older, experienced investors, with only a thin pipeline of younger landlords entering the market.
Property118

RESULTS of the Property118 Landlord Sentiment Survey (Q1 2026)
If you were one of them, Thank You; it’s by far the UK’s largest landlord sentiment survey, EVER!
We have published the high-level results below, but this is just the tip of the iceberg. As always, the devil is in the detail.
The raw data captured will enable us to drill down to create thousands of additional unique datasets and valuable insights. That will, in turn, provide content for many more research articles in the coming weeks and months. Examples might include subjects like; what percentage of landlords over the age of 60 have no mortgages or an LTV of under 30% and use life insurance as part of their property rental business strategy, or …
What percentage of portfolio landlords who own over 20 properties are planning to exit completely, and why?
This is likely to be of interest to mainstream media, political analysts, future corporate sponsors, and academic research organisations, all of which we will be delighted to hear from.
All data collected is, of course, anonymised for confidentiality purposes.
This is just the beginning. The raw data will allow us to explore cross-tabulated insights, such as the relationship between age, leverage, and exit intentions, or regional variations in ownership structures and management approaches. These deeper analyses will follow in dedicated articles over the coming weeks and months.
2,380 landlords. 23,098 properties. The definitive snapshot of the private rented sector in 2026.
Property118 · Q1 2026 Results
The demographics of our respondents reveal a maturing sector. The private rented sector is overwhelmingly populated by older, experienced investors, with only a thin pipeline of younger landlords entering the market.
Key Insight: Over three-quarters of landlords (76.8%) are aged 56 or older. With fewer than 3% under 40, succession planning and portfolio exit strategies are becoming critical sector-wide concerns. This ageing demographic is likely to accelerate the rate of property disposals in the years ahead.
Key Insight: The overwhelming majority (86%) let standard residential properties. HMOs account for just 7.2%, which is noteworthy given the significantly higher regulatory burden landlords face with this property type.
Regional Spread: London and the South East together account for 37% of respondents, reflecting the concentration of property investment in higher-value markets. The North West (11.9%) shows strong representation, likely influenced by the growth of buy-to-let investment in cities such as Manchester and Liverpool. Scotland, Wales, and Northern Ireland remain underrepresented at under 8% combined.
Ownership structures, leverage, and management approaches reveal a sector that is increasingly professionalising, yet one where the hands-on, personally-owned model remains dominant.
The Incorporation Shift: The gap between current personal ownership (61.2%) and the preference for limited company SPVs going forward (52.1%) is one of the most telling findings in this survey. It signals that while many landlords are locked into legacy personal ownership structures, the sector has decisively moved towards corporate vehicles for new acquisitions. The rise of the Family Investment Company (10.9%) as a preferred structure also points towards growing interest in inheritance tax planning and intergenerational wealth transfer.
Key Insight: Over 40% of landlords manage their properties entirely themselves, with a further 16% only using agents for tenant finding. This means the majority of the private rented sector relies on landlords’ personal time and expertise rather than professional management, raising important questions about regulatory compliance and standards.
Key Insight: Nearly 30% of respondents have no mortgages at all, and over 60% are geared at 50% LTV or below. Only 2% are highly leveraged above 75%. This paints a picture of a financially conservative sector with substantial equity buffers, which may partly explain why mass defaults have not materialised despite recent interest rate rises.
Perhaps the most consequential findings relate to landlords’ plans for the next twelve months. The results should serve as a serious warning to policymakers about the potential impact on housing supply.
Critical Finding: A combined 57% of landlords plan to either sell some properties or exit the sector entirely within the next year. Only 6.8% intend to purchase additional properties. If these intentions translate into action, the impact on housing supply in the private rented sector could be severe, potentially displacing hundreds of thousands of tenants and placing further pressure on an already strained market.
Key Insight: Nearly a third of landlords expect to remortgage within the year. With interest rates still elevated compared to pre-2022 levels, many of these landlords will face significantly higher repayment costs, which could further accelerate the trend towards disposals.
Key Insight: Over 80% of landlords do not use life insurance as part of their property investment strategy, whether for inheritance tax planning or mortgage protection. Given the ageing profile of the respondent base, this represents a significant gap in financial planning and a potential opportunity for advisers.
Taken together, these results tell a clear story. The UK’s private rented sector is dominated by older landlords who own standard residential properties in their personal names, typically let to working tenants, and who manage much of the process themselves. They are, on the whole, conservatively geared and financially resilient.
But the mood is unmistakably cautious. The weight of cumulative regulation, tax changes (particularly Section 24), and the prospect of further legislative intervention through the Renters’ Reform agenda have tipped the balance for many. Nearly six in ten landlords plan to reduce their portfolio or leave the sector entirely over the coming year. Only a small fraction intend to expand.
The shift towards limited company ownership for future purchases is well established but cannot easily be applied retrospectively to existing portfolios without incurring significant capital gains tax liabilities. This creates a structural barrier that locks many landlords into less tax-efficient personal ownership, further eroding the incentive to remain in the sector.
For policymakers, the message is stark: without meaningful reform or at least a pause in the pace of regulatory change, the supply of privately rented homes is likely to contract significantly. The tenants these landlords currently house will need to find accommodation elsewhere, at a time when social housing waiting lists are already at record levels and new housebuilding remains well below target.
We plan to run the Property118 Landlord Sentiment Survey around the last day of every quarter. This was our first, and we’ve already received some extremely constructive feedback following the article announcing the lauch. The more feedback we receive in the comments below, the better our future surveys will become.
These surveys are YOUR way to influence future legislation, and perhaps even cause u-turns and repeals of existing legislation.
We also need your help to share this message on Social Media such as Linkedin, Twitter, Reddit, Facebook and X, to reach other landlords.
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Landlords to tighten tenant checks before Renters’ Rights Act
Landlords are tightening tenant screening ahead of the Renters’ Rights Act coming into force on 1 May, with nearly seven in 10 planning more stringent checks to manage eviction risk.
Paragon Bank’s survey of 500 landlords shows 69% intend to introduce more in-depth vetting of prospective tenants.
Another 70% say they will be more selective about where they advertise their properties.
Three-quarters say they feel prepared for the new regime and 42% point to the removal of Section 21 ‘no-fault’ evictions as the change most likely to affect their business.
Also, 43% raise concerns about tenants falling into arrears or engaging in anti-social behaviour.
The bank’s mortgage lending director, Lisa Steele, said: “The Renters’ Rights Act represents a major policy shift, and landlords are adapting their approach accordingly.
“Given the pressures expected on the courts through the change to the eviction process, landlords are understandably planning to make more expansive checks on prospective tenants as they don’t want the cost and time involved in a lengthy eviction process.”
She added: “This creates challenges for those new to the rental market who have not yet built-up a tenant reference history, as well as those with infrequent income schedules.
“This was always the challenge for the RRA; while in brings in extra protections, it could exclude some of those tenants at the periphery of the market.”
Paragon says that over the past year, 51% of landlords report at least one instance of rent arrears or a late payment.
Anti-social behaviour has been encountered by 27%, while 22% say tenants remained in a property longer than intended.
A further 18% report damage linked to pets.
Court capacity is also a worry with 65% wanting faster court processes to reduce delays.
And 39% say the number of mandatory grounds for possession should be increased.
Around 35% of landlords say they are expecting a direct financial impact from the Act.
In response, 53% say they will consider increasing rent and 37% plan to review rents more frequently.
However, 18% are looking at cost savings across their portfolios, including changes to maintenance schedules and white goods replacement.
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Landlords turn to incorporation as Renters’ Rights Act approaches
Buy-to-let incorporation is set to boom ahead of the Renters’ Rights Act coming into force, claims software company.
Data by Propoly reveals the number of companies being set up to hold buy-to-let properties has increased every year since 2015, with annual increases of up to 35.9%.
The company says for many landlords, with the Renters’ Rights Act just around the corner, incorporation is emerging as a popular strategy.
According to the data, analysed data on the number of companies that are set up each year to hold buy-to-let properties in the UK, and found that an estimated total of 401,744 such companies were operational in 2025.
This marked an annual increase of 13.7%, equivalent to the creation of an additional 48,252 companies compared to 2024.
Propoly has forecast that in 2026, the number of companies is going to increase by a further 7.6%. This will see the creation of another 30,354 companies, bringing the UK total to 432,098.
Sim Sekhon, group CEO at Propoly, said: “While tax efficiency has been a major driver behind the rise in incorporation, the upcoming Renters’ Rights Act is now playing an increasingly important role in how landlords are choosing to structure and manage their portfolios.
“As the sector becomes more regulated, many landlords are recognising the need to operate in a more formal, business-like way, and a limited company structure naturally supports that shift.
“The Renters’ Rights Act is expected to introduce stronger tenant protections and place greater obligations on landlords, from tenancy management through to compliance and dispute resolution. For many, this will mean tighter margins and a greater administrative burden, which is prompting a reassessment of how their portfolios are run.”
He adds: “Operating through a company can provide a clearer framework for managing these responsibilities, while also allowing landlords to take a longer-term, more strategic view of their investments.
“It enables better organisation of finances, easier reinvestment, and a structure that is more aligned with running a professional rental business rather than holding property as a sideline.
“That said, incorporation still isn’t the right move for everyone. There are additional costs, tax considerations, and lending challenges that need to be carefully evaluated. But as legislative change continues to reshape the private rental sector, we expect more landlords to consider whether a company structure offers the resilience and flexibility they need to adapt.”
Important context: Property118 is not currently recommending Section 162 incorporation for landlords with mortgages while legal uncertainty remains over the treatment of mortgage liabilities. Read our current position here: Why Property118 is not currently recommending s162 incorporation to landlords with mortgages
If you are weighing up your own strategy, whether that’s to sell, expand, or restructure to improve profitibility, it is worth having a discussion with a Property118 consultant to take a closer look at how your portfolio is structured as a whole now, and to forecast the outcomes based on multiple scenario’s.
These conversations are typically most useful for landlords with established portfolios and relatively modest borrowing who are beginning to reflect on how their assets could work more effectively in the years ahead.
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Important Notice – Scope of Planning SupportWhere our recommendations touch on areas requiring regulated input, we refer clients to appropriately authorised professionals for advice and execution.
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Financial penalties won’t solve empty homes crisis – Propertymark
More than 300,000 homes across the country have been left empty for over six months, prompting an industry body to call on the government and councils to take action.
Propertymark has published a policy paper outlining how the government can address empty properties and bring them back into use.
The industry body warns that financial penalties and council tax premiums, such as the 100% extra council tax charged on long-term empty properties in Brighton and Hove, are a “blunt instrument” that can actually discourage owners from investing in returning properties to the market.
Timothy Douglas, head of policy and campaigns at Propertymark, said: “Long-term empty properties are a visible reminder of a system that is not working as effectively as it should. At a time when housing demand continues to outstrip supply, leaving hundreds of thousands of homes unused is neither economically nor socially sustainable.
“Our research shows that while governments across the UK have introduced a range of measures, too many local authorities lack the dedicated resources, funding and strategic framework needed to deliver meaningful change. Financial penalties alone will not solve the problem.
“What works is sustained local engagement, professional advice, and properly funded empty homes teams that can support owners through the process of bringing properties back into use.
“This paper sets out practical, deliverable reforms that would help unlock this wasted stock, revitalise high streets and neighbourhoods, and provide much-needed homes for communities across the country.”
Propertymark recommends that the government and councils work collaboratively with the third sector to understand the underlying reasons why homes become empty.
The industry body says: “This could be an opportunity to engage local people, utilise data and intelligence, and identify local solutions.”
They also suggest that local authorities across the UK should have a dedicated officer responsible for tackling empty properties, a clear strategy for addressing them, and sufficient revenue and capital budgets to implement these plans.
Other recommendations include providing owners with financial support and practical advice instead of relying solely on penalties, and introducing a targeted government investment programme focused on areas with high concentrations of long-term empty homes.
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Charity calls for action to support older private renters as LHA rates remain frozen
A charity is urging the government to unfreeze Local Housing Allowance (LHA) rates after research reveals an increase in pensioners living in poverty.
New data by the government reveals the number of pensioners living in poverty in the UK increased by 200,000 in just one year.
Independent Age says the government should do more to help older private renters.
During the Autumn Budget, ministers announced that LHA rates will remain frozen for a second consecutive year in 2026/27.
According to government data, almost 1.7 million private rented households across the country were receiving housing cost support as of August this year, with 53% of those households facing a gap between their housing benefit payments and their monthly rent.
Independent Age director of policy and influencing, Morgan Vine, said: “We want to see Local Housing Allowance uprated, to ensure older private renters are not forced into dangerous sacrifices simply to keep a roof over their head.
“And the delivery of a comprehensive, all entitlement take-up strategy which can overcome the barriers that prevent people in later life from accessing the vital financial support they are entitled to. With the political will, a future without pensioner poverty is possible.”
As previously reported on Property118, chief executive of the National Residential Landlords Association (NRLA) Ben Beadle warned the current freeze on LHA rates, combined with a 2-percentage-point increase in taxes on dividends, property, and savings income in the Autumn Budget, will ultimately harm renters.
He said: “It beggars belief that the government thinks it is helping renters.
“Piling on further tax rises that will drive up rents, whilst keeping housing benefit rates frozen, is a one-way street to hitting low-income tenants the hardest.
“This can only be described as a deeply regressive package that will make life more difficult for renters across the country.”
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