Almost three-quarters of landlords in process of or planning to grow portfolio

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  • 20/02/2024
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Almost three-quarters of landlords in process of or planning to grow portfolio
Around 69 per cent of landlords are already increasing or planning to increase the size of their property portfolio, going up to 77 per cent of portfolio landlords.

According to the Landlord Leaders survey from OSB Group, which recently made changes to its leadership team, approximately 42 per cent of landlords say they are optimistic about their future and one in five landlords say they are very optimistic.

Around 65 per cent say they are looking at or have already transitioned to becoming limited companies or incorporated entities.

Over two-thirds say they plan to invest in order to “stay ahead of legislative changes”, with 58 per cent having grown or planning to grow their headcount and 68 per cent spending more time thinking about the tenant experience.

The primary reasons for being a landlord are cited as earning potential, ability to pass down wealth and inheritance to future generations, investing in a fixed asset and having a positive experience on tenants’ lives.

Around three-quarters say they plan to engage with tenants to better understand their needs and foster good relationships, and a quarter want to positively impact their tenants’ lives.

 

Landlords play a ‘critical role in society’

Jon Hall (pictured), group managing director of mortgages and savings at OSB Group, said: “Landlords play a critical role in society, and this research clearly demonstrates that they are optimistic and committed to the future of the sector.

“The actions landlords are taking, such as future financial planning, investing in the growth of their businesses, and building better tenant relationships, are a clear sign of their drive to improve the private rented sector (PRS) for the long term despite the many headwinds. We hope to see this continue over the next 12 months and longer.”

Hall continued: “This latest research reinforces OSB Group’s view that the journey to professionalisation is one that many landlords are committed to. We will continue to support our landlord and broker clients and the Landlord Leaders Community members to ensure this optimism and action is replicated and recognised.”

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