Some 69 per cent of landlords have already or are planning to increase the size of their property portfolio, increasing to 77 per cent of professional landlords.
This investment - revealed in a survey by OSB finance house - comes at a time when 42 per cent of landlords say they are optimistic about their future, with one in five professional landlords saying they feel very optimistic.
Reflecting the increasing professionalisation of the PRS, 65 per cent are considering or have already transitioned to become limited companies or incorporated entities.
Additionally, more than two-thirds are investing or planning to invest in order to stay ahead of legislative changes, and 58 per cent have or plan to employ more staff while 68 per cent are spending more time thinking about the tenant experience.
Jon Hall, Group Managing Director Mortgages and Savings at OSB Group, says: “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 PRS for the long-term despite the many headwinds. We hope to see this continue over the next 12 months and longer”.
According to the research, the top reasons for being a landlord are earning potential and the ability to pass down wealth and inheritance to future generations, followed by investing in a fixed asset and having a positive experience on tenants’ lives.
The latter is reflected in landlord action, with 75 per cent of landlords engaging or planning to engage with tenants to understand their needs better and foster positive relationships, and a quarter have also expressed their desire to positively impact tenants' lives for the future.
OSB spoke with 1,000 landlords to assemble the survey.
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