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RESULTS of the Property118 Landlord Sentiment Survey (Q1 2026)

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RESULTS of the Property118 Landlord Sentiment Survey (Q1 2026)

2,380 landlords completed our recent Property118 landlord survey.

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.

WHAT COMES NEXT?

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.

Exclusive Survey

The UK’s Largest EVER Landlord Sentiment Survey

2,380 landlords. 23,098 properties. The definitive snapshot of the private rented sector in 2026.

Property118 · Q1 2026 Results

2,380

Landlords Surveyed

23,098

Rental Properties

9.7

Average Portfolio Size

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.

Age Range of Respondents

2,383 responses

56 to 70

54.3%

71+

22.5%

41 to 55

20.7%

Under 40

2.6%

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.

UK Region

2,520 responses

London

19.2%

South East

17.8%

South West

12.0%

North West

11.9%

West Midlands

7.5%

East Midlands

7.0%

East Anglia

6.8%

Yorkshire & Humber

6.5%

North East

4.0%

Scotland

3.7%

South Wales

2.7%

North Wales

0.6%

Northern Ireland

0.4%

Property Types (Typically)

2,520 responses

Houses, flats, bungalows

86.0%

HMOs

7.2%

Other

4.9%

Rather not say

1.2%

Commercial

0.6%

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.

Tenant Types (Typically)

2,520 responses

Working

63.3%

A mixture

28.3%

Benefits

3.5%

Students

3.3%

Rather not say

1.7%

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.

How Are Properties Owned and Managed?

Ownership structures, leverage, and management approaches reveal a sector that is increasingly professionalising, yet one where the hands-on, personally-owned model remains dominant.

Current Ownership Structure

2,520 responses

Personal

61.2%

Company

14.4%

Mixed

13.7%

Partnership

7.0%

Rather not say

2.3%

LLP

1.5%

Preferred Structure for Future Purchases

2,380 responses

Limited company (SPV)

52.1%

Personal name

30.1%

Family investment company

10.9%

Ordinary partnership

5.1%

LLP

1.8%

A striking disconnect: 61% of landlords currently hold property in their personal name, yet 52% say they would use a limited company for any future purchase. The Section 24 tax changes have fundamentally altered the calculus of ownership.

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.

Property Management

2,520 responses

Self-managed entirely

40.8%

Fully managed by agents

23.8%

A mixture

19.0%

Agents for letting only

15.9%

Rather not say

0.5%

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.

Mortgage Gearing (Average LTV)

2,520 responses

No mortgages

29.3%

31% to 50% LTV

17.3%

Less than 30% LTV

14.4%

51% to 60% LTV

14.4%

61% to 70% LTV

10.6%

71% to 75% LTV

8.4%

Rather not say

3.6%

76%+ LTV

2.0%

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.

What Lies Ahead? Future Intentions

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.

Over the Next 12 Months, Which Is Most Likely for You?

2,380 responses

Sell one or more properties

39.7%

Stay the same

36.2%

Exit completely

17.3%

Buy one or more properties

6.8%

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.

For every landlord planning to buy, more than eight are planning to sell or exit entirely. This is not a market in equilibrium.

Likely to Remortgage in the Next 12 Months?

2,380 responses

68.5%

Yes

31.6%

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.

Is Life Insurance Part of Your Property Strategy?

2,380 responses

80.4%

Yes

19.6%

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.

What Does This All Mean?

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.

Why your constructive feedback matters

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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