The latest survey from Lendlord shows a significant portion of UK landlords are gearing up to broaden their horizons in the property market in 2024. With ambitions flying high, about 38% of landlords surveyed are actively planning to add more properties to their portfolios in the coming year.
The survey took into account the perspectives of over 200 landlords. Not only are landlords looking to acquire more properties, but 20% are also considering renovations to enhance their current holdings. Meanwhile, 42% are focused squarely on renting out their existing properties, indicating a strong drive towards maximising current assets.
Strategic Moves
Landlords are not just expanding; they’re strategising. A substantial 45% are prioritising the increase in their portfolio’s value, while 38% are keen on boosting their rental income. Additionally, 17% are looking to diversify their investments, showcasing a sophisticated approach to property management and financial growth.
When it comes to financing these ambitions, landlords are exploring a range of options. Leveraging existing equity is on the table for 40%, while 35% are considering new mortgages or loans. Partnership formations are also a viable strategy for a quarter of respondents, underlining a collaborative trend in achieving property goals.
Navigating Challenges
The journey ahead is not without its hurdles. Landlords are bracing for market fluctuations, cited by 42% as a potential challenge, and the need to stay updated with regulatory changes, a concern for 38%. Moreover, maintenance management emerges as a significant worry for 20% of the Lendlord platform’s users, highlighting the operational challenges in property investment.
Looking to the Future
The future looks promising, with a whopping 82% of landlords expressing a desire to continue expanding their portfolios well beyond 2024. While most are aiming for growth, 13% are concentrating on optimising their existing assets, and a smaller group (5%) is seeking to secure a steady stream of passive income.
Aviram Shahar, co-founder and CEO of Lendlord, commented on the findings, expressing optimism about the sector’s outlook. “Despite the wide range of challenges investors are currently facing, there remains a strong appetite among landlords to grow and invest in their portfolios over the next twelve months,” Shahar noted. He further highlighted the high demand for rental property as a key factor that “continues to make buy-to-let (BTL) investments appealing in the long run.”