Landlord Report 2026
Findings from the August Landlord Survey 2026, on the Renters’ Rights Act, Making Tax Digital, letting agents and landlords’ plans for the next two years.
The next two years
intend to increase the number of properties they own over the next two years, against 7% in the government’s 2024 survey.
The share planning to shrink or sell up, 29%, is almost identical to the 31% the government found. And seven in ten (69%) will re-let the next property that falls vacant.
Plan to grow
34%
7%
Plan to shrink or sell up
29%
31%
This survey, 2026 (UK)
Government survey, 2024 (England)
Key statistics
The August Landlord Survey 2026 asked 276 UK landlords between 4 and 25 September 2026 about the Renters’ Rights Act, Making Tax Digital, letting agents and their plans for the next two years.
Plans and confidence
34% of UK landlords plan to increase the number of properties they own over the next two years, against 7% in the government’s English Private Landlord Survey 2024.
29% of landlords plan to shrink their portfolio or sell up, almost identical to the 31% the government found in 2024.
69% of landlords will re-let the next property that falls vacant, compared with 59% in the government’s 2024 survey.
Landlords rate their confidence in being a UK landlord over the next five years at 7.1 out of 10 on average, falling to 4.7 among the over-65s.
Further legislation or regulation is the single biggest worry for the year ahead, named by 26% of landlords.
Renters’ Rights Act
81% of landlords say they understand the Renters’ Rights Act, at least in its main points, but only 46% have changed how they operate.
Only 23% of landlords know that a new landlord database and ombudsman are being introduced, the least-known measure in the Act, even though every landlord in England will need to register.
39% of landlords have tightened referencing or affordability checks since the Act came into force, and 32% now ask for a guarantor where they didn’t before.
Making Tax Digital
Only 35% of landlords could name the correct Making Tax Digital start date for their own income.
Among landlords with income of £50,000 or more, who should already be in Making Tax Digital, fewer than half (48%) say they are.
75% of landlords in Making Tax Digital expect it to add at least four hours of work every quarter, and 34% expect it to take more than a day.
Letting agents
27% of landlords left a letting agent in the last two years and now self-manage, and compliance and legal complexity is the most common reason landlords change how they manage (27%).
69% of landlords say they are likely to be self-managing all their properties in two years’ time.
The sample is self-selected and unweighted, so the figures describe an engaged group of active UK landlords rather than the sector as a whole. Full details are in the methodology.
Key findings
The headline numbers from the August Landlord Report 2026.
Renters’ Rights Act
say they understand the Renters’ Rights Act, at least in its main points, but only 46% have changed how they operate.
Each dot is 1 in 100 landlords. Bright: changed how they operate (46%). Pale: understand the main points but haven’t acted yet (35%).
Renters’ Rights Act
23%
are aware that a landlord database and ombudsman are being introduced, the least-known measure in the Act.
The seven measures we asked about. The database is the least-known.
Read chapter 02 →
Renters’ Rights Act
39%
have tightened referencing or affordability checks since the Act came into force. 32% now ask for a guarantor where they didn’t before.
Tightened referencing, 39%
Ask for a guarantor, 32%
Read chapter 02 →
Making Tax Digital
35%
of landlords could name the correct Making Tax Digital start date for their own income level.
Read chapter 03 →
Making Tax Digital
75%
of landlords already in MTD expect it to add at least four hours of work every quarter. A third expect more than a day.
Read chapter 03 →
Letting agents
27%
left a letting agent in the last two years and now self-manage. 69% say they are likely to be self-managing all their properties in two years’ time.
27%
Left an agent
69%
Likely to self-manage
Read chapter 04 →
Confidence
7.1
out of 10: average confidence in being a UK landlord over the next five years. Among the over-65s it falls to 4.7.
All landlords, 7.1
Over-65s, 4.7
0
10
Read chapter 05 →
How to read the numbers. Percentages are based on everyone who answered each question, so bases vary slightly from question to question and are shown on every chart. Where we compare with the English Private Landlord Survey (EPLS), we are comparing a UK-wide, self-selected sample of landlords who were sent this survey with a large, weighted, England-only survey of landlords registered with a deposit scheme. The comparisons are indicative, not like-for-like. Full details are in the methodology.
How to cite this report
Source: August Landlord Survey 2026. August, October 2026. augustapp.com/landlord-survey-2026
Partner view
A not-for-profit landlords’ association for the East Midlands, established in 1942.
“These findings match what we hear from our members every week. Most landlords have made a real effort to understand the Renters’ Rights Act, and the fact that so many have tightened their referencing shows they are trying to reduce risk rather than walk away. But the low awareness of the landlord database and ombudsman is a warning. Every landlord in England will have to register, and the sector has a lot of work to do to get that message out before the deadline.”
Vicki Hextall
Area Manager, EMPO
Chapter 01 · Who took part
These landlords are bigger, younger and more business-like than the picture painted by government data.
That matters for how the rest of the findings should be read. This is a survey of active, engaged landlords, many of them running property as a serious part of their income.
Bigger
74%
own or let five or more properties
This survey, 74%
Younger
12%
are retired, a third of the government figure
This survey, 12%
More business-like
30%
hold everything through a limited company
This survey, 30%
Government figures are from the English Private Landlord Survey 2024, for direct landlords in England, weighted by landlord. The comparison is indicative, not like for like.
Portfolio size
A quarter let twenty or more properties.
Chapter 07 shows the answers split by these five groups.
Three-quarters of respondents (74%) own or let five or more properties. A quarter (25%) have between ten and nineteen, and a further quarter (26%) have twenty or more. Only 7% are single-property landlords. The government’s English Private Landlord Survey 2024 found the reverse. 45% of landlords in England own one property, 38% own two to four and just 17% own five or more.
7%
let one property
20%
let two to four properties
24%
let five to nine properties
25%
let ten to nineteen properties
26%
let twenty or more properties
1.2
Where their properties are
Every nation of the UK is represented. The Midlands is the largest single region (29%), followed by the East of England (14%), London (13%), the South East and South West (12%), Scotland (11%) and the North of England (10%). Wales and Northern Ireland together account for 6%, and 3% have portfolios spread across several regions.
1.3
How they became landlords
Just under half (46%) bought their first rental property specifically to let it out. More than a third (37%) bought it to live in and let it out later, and 14% inherited or were given it. The first two figures are close to the government survey (52% and 37%). Inheritance is more common here than the 6% the government found.
Where their homes are
Every UK nation is represented, led by the Midlands.
11%
10%
3%
12%
29%
4%
14%
13%
Share of landlords
29%
10 to 14%
3 to 4%
3%
have homes spread across several regions
How they started
More than a third bought a home to live in, then let it out.
Area shows share.
Bought it to let it out
46%
Bought it to live in, then let it out
37%
Inherited or given it
14%
Question: How did you come to own your first rental property? Base: landlords who answered.
1.4
Experience and how they hold their properties
These are experienced landlords. A third (33%) have been letting for more than twenty years and 59% for more than a decade, close to the 58% with eleven or more years’ experience in the government survey. Only 7% have been a landlord for less than three years.
Just under half (45%) hold their properties as an individual or jointly with a partner or family member. Three in ten (30%) hold everything through a limited company, and a quarter (25%) use a mix of both. Incorporation is far more common in this sample than in the sector at large. The government survey found 93% of landlords in England let as individuals and 6% through a company.
Half of respondents (52%) have a buy-to-let mortgage on at least one property and a third (33%) own all their rental properties outright. A quarter (26%) let at least one HMO or house share, and one in five (19%) let a furnished holiday let or short let.
How this sample compares
August Landlord Survey 2026 (UK)
English Private Landlord Survey 2024 (England)
Letting for 11 years or more
59%
58%
30%
6%
Have borrowing or a buy-to-let mortgage
52%
59%
Use no letting agent at all
21%
52%
Government figures are for direct landlords in England in 2024, weighted by landlord. The government borrowing figure is landlords with borrowing on at least one property. The comparison is indicative, not like for like.
Portfolio at a glance
Experienced, and far more often incorporated than most landlords.
Years as a landlord
59%
have been letting for more than ten years. A third for more than twenty.
Ownership
45% hold their homes as an individual or jointly. 30% hold everything through a limited company and 25% use a mix of both.
Questions: How long have you been a landlord? How do you hold your rental properties? Which of these apply to your portfolio? (more than one answer allowed). Base: landlords who answered each question.
1.5
Age, gender and occupation
Respondents are noticeably younger than the sector average.
32%
are aged 35 to 44, the largest single group
24%
say being a landlord is their main occupation
66%
report a gross annual income from property and any self-employment of £30,000 or more
Men make up 55% of respondents and women 44%, with 1% preferring not to say.
The largest group (37%) are in full-time employment alongside their portfolio, 13% are self-employed in something other than property, 12% work part-time and 12% are retired, a third of the 36% of retired landlords in the government survey.
34% report £50,000 or more. Those are the bands that decide when a landlord is drawn into Making Tax Digital.
Chapter 02 · Renters’ Rights Act
Most landlords understand the Renters’ Rights Act. Fewer than half have acted on it.
The Renters’ Rights Act is the biggest change to private renting in England for a generation, and the survey went into the field a few months after its main provisions took effect.
81% understand it, at least in its main points
46%
understand it and have changed how they operate
35%
understand the main points and have changed nothing yet
12%
know the Act exists but don’t understand the details
7%
weren’t aware of it before taking the survey
2.1
How well landlords understand the Act
England only, where the Act applies
Restricting the analysis to landlords whose properties are in England, the picture is similar.
39%
understand it but have not acted
14%
don’t understand the details
3%
weren’t aware of it
Most of the “wasn’t aware” answers come from Scotland (25%) and Wales and Northern Ireland (18%), where the Act does not apply and different regimes are in force.
By age
Understanding rises sharply with age.
Say they have already changed how they operate
77%
Aged 65 or over
41%
Aged 35 to 44
Landlords in their thirties and forties are the most likely to say they understand the main points, but have not yet acted (50% of 35 to 44 year olds).
Newer landlords are least sure of their ground. A third (33%) of those letting for under three years know the Act exists, but don’t understand the details.
2.2
Which measures landlords know about
We listed seven of the Act’s headline measures and asked landlords to tick the ones they were aware of. No single measure was recognised by more than six in ten landlords, and none by fewer than one in five.
The measure landlords know least about is the one that will touch every one of them. Only 23% know that a new landlord database and ombudsman are being introduced. Every landlord in England will need to register on the database and join the ombudsman scheme, and the low awareness suggests a large communication gap before those requirements bite.
Which measures landlords know about
Only 23% know about the landlord database and ombudsman.
Tenants can request a pet, and landlords can’t unreasonably refuse
59%
Rent can only rise once a year, by formal notice
55%
Landlords can’t refuse tenants with children or on benefits
49%
All new tenancies are periodic, with no fixed term
47%
Section 21 “no-fault” evictions are abolished
46%
No more than one month’s rent in advance
42%
A new landlord database and ombudsman
23%
2.3
What landlords have done since the Act came into force
The most common response to the Act has been to become more selective.
Among landlords in England the pattern is the same. 41% tightened referencing, 36% raised asking rents, 32% asked for a guarantor and 12% changed nothing.
01
Single-property landlords
Changed nothing since the Act. A small group, so treat as indicative.
56%
02
Five to nine properties
Now ask for a guarantor where they didn’t before
54%
03
Twenty or more properties
Served or begun a possession claim
37%
04
Aged 55 to 64
Decided not to re-let a property
25%
Since the Act came into force
The most common response has been to become more selective.
Share of landlords who have done each since the Act came into force. More than one answer allowed.
Dark bars: the two ways landlords have become more selective.
Tightened referencing or affordability checks
39%
Increased the asking rent on a new let
33%
Asked for a guarantor where they didn’t before
32%
Increased rent on an existing tenancy
26%
Served or begun a possession claim
20%
Decided not to re-let a property
15%
Sold or listed a property for sale
13%
None, they haven’t changed anything
10%
2.4
What tenants have done
Landlords are already seeing tenants use their new rights.
32%
referred a complaint to a deposit scheme, council or ombudsman
28%
asked to keep a pet
26%
challenged or refused a rent increase
23%
gave notice to leave under the new rules
Just over a quarter (27%) have experienced none of these, and 1% aren’t sure.
Larger landlords, with more tenancies, naturally see more of everything. Among those with twenty or more properties, 42% have received notice under the new rules and 42% have had a complaint referred on. Landlords with ten to nineteen properties report the highest rate of rent-increase challenges (44%). Half of landlords with one to four properties have experienced none of these changes yet.
“There are certain risks in being a landlord. One may face tough situations such as rent arrears, damaged furniture and appliances, and neighbour complaints.”
A landlord with 10–19 properties in Scotland
3.1
Do landlords know when they start?
A third of landlords (32%) say they are already in Making Tax Digital. A fifth (21%) expect to start in April 2027 and 10% in April 2028. A quarter (24%) believe they start later or fall below the thresholds, and 14% simply don’t know.
We also asked landlords their gross income from property and self-employment combined, which is what HMRC uses, so we can check their answers against the rules. Most don’t match. Only 35% of landlords named the start date that applies to their own income.
Among landlords reporting £50,000 or more, who should already be filing quarterly updates, fewer than half (48%) say they are in MTD, and almost as many (44%) named a later date or believe they are below the thresholds. In the £30,000 to £49,999 band, due to join in April 2027, only 28% named the right year. Most (64%) named a different date, many of them believing they are already in. In the £20,000 to £29,999 band, due in April 2028, only 11% got it right and 36% don’t know.
Roughly half of the landlords who should already be in Making Tax Digital don’t think they are, and only a quarter of those due to join next April know it. Software providers, accountants and HMRC have a job to do before the 2027 wave.
Start dates
Roughly half of those who should already be in Making Tax Digital don’t think they are.
named the right date
Starting April 2026 · income £50,000 or more
44% named a different date and 8% didn’t know. 86 landlords.
Starting April 2027 · income £30,000 to £49,999
64% named a different date and 8% didn’t know. 78 landlords.
Starting April 2028 · income £20,000 to £29,999
52% named a different date and 36% didn’t know. 44 landlords.
3.2
How it’s going for landlords already in MTD
Of landlords who say they are already in MTD, 83% report submitting their first quarterly update on time and 12% submitted late. A further 5% don’t know whether it has been done, because their accountant handles it.
3.3
How landlords keep their digital records
The accountant is the single most common answer. 28% say their accountant does it all. A similar number use general accounting software such as Xero, QuickBooks or FreeAgent (26%) or dedicated landlord software (25%). One in seven (14%) run a spreadsheet with bridging software, and 5% haven’t decided yet.
Digital records and quarterly updates can sit in the same app: August, which publishes this report, is recognised by HMRC for Making Tax Digital. See how it works.
There is a clear split by management style.
Self-manage
21%
use a spreadsheet and bridging software
Self-manage
15%
rely on an accountant
First quarterly update
83%
of landlords who say they are in MTD report sending their first quarterly update on time.
0
Half
100%
12%
sent it, but late
5%
don’t know, their accountant handles it
Record keeping
Accountants lead, with software close behind.
My accountant does it all
28%
General accounting software, such as Xero, QuickBooks or FreeAgent
26%
Dedicated landlord software
25%
A spreadsheet with bridging software
14%
I haven’t decided yet
5%
I don’t think MTD applies to me
2%
3.4
How long MTD takes each quarter
Landlords expect Making Tax Digital to be a real burden. Three-quarters (75%) of those in scope expect it to add at least four hours of work every quarter, and a third (34%) expect it to take more than a day. Only 6% expect it to take less than an hour.
“Self-managing my properties is a full-time job in itself. I have also been managing clients’ properties and was keen to grow that side of my business. However, MTD now creates so much additional administration, I now do not have time to grow my business, or keep on top of maintenance and repairs.”
A landlord with 20+ properties in the South
Time per quarter
Three in four expect MTD to add at least four hours a quarter.
6%
14%
41%
34%
6%
Less than an hour
1 to 3 hours
4 to 8 hours
More than a day
No idea
In their words
“There is much more admin work from new rules. It’s stressful for small landlords. Clear simple advice would help a lot.”
A single-property landlord in the Midlands
Chapter 04 · Letting agents
The largest group use a letting agent only to find a tenant, then manage the rest themselves.
Only 21% of landlords in the survey use no agent at all, but most of the day-to-day management is done by landlords themselves.
58% manage their tenancies personally once they are let
37%
pay an agent to find a tenant, then take over
21%
use no agent at all
22%
use a fully managed service
19%
use a mix of arrangements across their properties
4.2
Two years of change
Movement is in both directions, and it is concentrated among larger and more experienced landlords.
Have left an agent to self-manage
45%
Twenty or more properties
41%
Aged 55 to 64
Have made no change at all
63%
Aged 65 or over
Moves in the last two years
27%
of landlords left an agent in the last two years and now self-manage.
Using an agent
Self-managing
27%
left an agent and now self-manage
26%
started using an agent
12% switched from one agent to another. 35% made no change.
4.3
Why landlords changed how they manage
Of the 172 landlords who made a change, 169 gave a main reason. The single most common was compliance and legal complexity, including the Renters’ Rights Act (27%). Only 4% said software made self-managing easier. That is a sign of the order in which decisions are made. Compliance and control push landlords into self-managing first, and the search for the best property management software follows.
01
Started using an agent
Main reason: compliance and legal complexity
37%
02
Left an agent to self-manage
Compliance 24%, wanting more control 23%, cost of fees 18%
24%
03
Switched to another agent
Main reason: poor service or communication
39%
Why they changed
Compliance is the main reason landlords change how they manage.
Main reason given by 169 of the 172 landlords who changed how they manage in the last two years.
Dark bar: the most common reason.
Compliance and legal complexity, like the Renters’ Rights Act
27%
Wanted more control
22%
Poor service or communication
20%
Cost of fees
14%
Portfolio grew or shrank
11%
Software made self-managing easier
4%
4.4
What letting agents charge landlords
Among landlords who pay or have paid for management, fees cluster between 8% and 15% of the rent.
26%
paid 8 to 10%
25%
paid 11 to 12%
24%
paid 13 to 15%
9%
paid more than 15%
8%
paid under 8%
8%
didn’t know what they paid
On a modest portfolio of five properties let at £1,000 a month, a 12% fee comes to £7,200 a year. Our guide to what letting agents charge breaks down the different fees.
4.5
Will more landlords self-manage?
Even among landlords who currently use an agent for management, 58% say they are likely to be self-managing everything in two years, and 46% very likely.
The over-65s are the exception. A third (34%) say self-managing everything is very unlikely, the highest of any group. Landlords with two to four properties are also more hesitant (27% unlikely), possibly because they are the group most likely to be juggling property with full-time work.
Two years from now
69%
of landlords placed themselves at 4 or 5 when asked how likely they are to self-manage all their properties in two years.
69% at 4 or 5
43%
5 – very likely
26%
4
19%
3
5%
2
8%
1 – very unlikely
Question: How likely are you to self-manage all your properties two years from now? Answers on a scale from 1 (very unlikely) to 5 (very likely). Base: 258.
Chapter 05 · Plans, worries and confidence
Despite talk of an exodus, more landlords plan to grow than to shrink.
Contrary to much of the commentary about a landlord exodus, more landlords in this survey plan to grow than shrink.
34%
plan to increase the number of properties
29%
plan to keep the same number
20%
plan to decrease
9%
plan to sell all their rental properties
7%
haven’t made plans
Question: Over the next two years, what do you plan to do with your portfolio? Base: 275.
5.1
Growing, holding or selling
The share planning to shrink or sell up, 29%, is almost identical to the 31% the government found among landlords in England in 2024. The difference is at the other end. 34% plan to grow, against 7% in the government survey. That fits the profile of this sample, which leans towards larger, incorporated and younger landlords, and the government’s own finding that company landlords were far more likely to plan an increase (27%) than individuals (5%).
Plans for the next two years
This survey, 2026 (UK, n=275)
Government survey, 2024 (England)
Increase
34%
7%
Keep the same
29%
42%
Decrease
20%
15%
Sell all
9%
16%
No plans yet
7%
20%
Government figures are for landlords in England in 2024. Its “decrease” excludes those selling everything (31% in total).
Plans by age
Age tells the same story.
◀ Decrease or sell all
Grow ▶
Under 35
n=16 · indicative
35 to 44
n=86
45 to 54
n=60
55 to 64
n=77
65 or over
n=31
Landlords holding properties in their own name are the most likely to be selling up entirely (14%), against 2% of those using a limited company.
Question: Over the next two years, what do you plan to do with your portfolio? Shares exclude “no plans yet”. Base: 275. The under-35 group is small, so treat it as indicative.
5.2
Will the next vacancy be re-let?
Among the over-65s, only 48% will re-let and 29% will sell.
The next vacancy
say they will re-let the next property that falls vacant, higher than the 59% in the government’s 2024 survey.
Seven in ten will re-let
11%
will sell it
4%
will use it themselves or for family
1% don’t know. Question: The next time one of your properties becomes vacant, will you re-let it? Base: 275.
5.3
What is driving those plans
Tax is the factor landlords mention most when they explain their plans for the next two years. Two in five (40%) name tax changes, including mortgage interest relief, Making Tax Digital, capital gains tax and stamp duty. Next come mortgage costs and interest rates (31%), then recent or forthcoming legislation such as the Renters’ Rights Act and EPC rules (29%). Market factors are further down the list: rental demand and yields (27%) and house price expectations (23%). Personal reasons such as retirement or family were cited by 26%, and tenant behaviour or arrears by just 11%. Taken together, tax, borrowing costs and legislation account for most of what is shaping plans: 65% of landlords cite at least one of the three.
The drivers differ by direction. Among the 81 landlords planning to decrease or sell up, legislation (41%) and tax (40%) lead, followed by mortgage costs (32%) and personal reasons (30%). Among the 93 planning to grow, the drivers are rental demand and yields (32%), house price expectations (32%) and, interestingly, tax (30%). For some landlords tax is a reason to restructure and expand rather than retreat.
“The whole idea of investing in properties was to supplement my state pension. I am very concerned about continuing to be a landlord. I am closely monitoring the new regulations and laws that are enforced on me, and if the situation gets to a point where it becomes non-viable, I would be looking to sell all the properties and reinvest in bonds and gilts.”
A landlord with 10–19 properties in the Midlands
What’s driving their plans
What is driving landlords’ portfolio plans
Share of landlords who name each reason for their plan. More than one answer allowed. Each tick is 2%.
40%
Tax changes, such as mortgage interest relief, MTD, capital gains tax and stamp duty
31%
Mortgage costs and interest rates
29%
Legislation, such as the Renters’ Rights Act and EPC rules
27%
Rental demand and yields
26%
Personal reasons, such as retirement or family
23%
House price expectations
11%
Tenant behaviour or arrears
5.4
The biggest worry
Asked to pick the single thing that worries them most over the next twelve months, a quarter of landlords (26%) chose further legislation or regulation.
The worry shifts with age and with who does the managing. More than half of the over-65s (55%) and 44% of the 55 to 64s name legislation as their biggest worry, whereas the 35 to 44s are most worried about mortgage rates (35%).
Biggest worry
Further legislation is landlords’ biggest worry for the year ahead.
The single thing that worries landlords most over the next 12 months.
Dark bar: the single biggest worry. One answer only.
Further legislation or regulation
26%
Void periods and finding tenants
19%
Mortgage rates
19%
Tax
13%
Rent arrears
9%
Maintenance and EPC upgrade costs
8%
Court delays getting possession
5%
Nothing in particular
2%
5.5
Confidence in the future
Landlords were asked to rate their confidence in being a landlord in the UK over the next five years, on a scale of 0 to 10. The average score was 7.1 and the median 7. Nearly two-thirds (63%) scored 7 or above, including 20% who gave the maximum 10. One in seven (14%) scored 4 or below.
Confidence is not evenly spread. Length of time as a landlord makes little difference. Landlords in Scotland (7.9) are marginally more confident than those in England (7.1). Unsurprisingly, those planning to sell everything are the least confident of all (5.4), and those planning to grow the most (7.7).
Average confidence out of 10, by portfolio size
One property
5.7
Two to four
5.9
Five to nine
7.5
Ten to nineteen
8.2
Twenty or more
7.1
Groups of 15 to 65 landlords. The single-property group is small, so treat it as indicative.
Confidence
7.1
out of 10: landlords’ average confidence in being a UK landlord over the next five years.
Average score by age, out of 10
Under 35
6.7
35 to 44
7.9
45 to 54
7.2
55 to 64
7.5
65 or over
4.7
0
5
10
Question: On a scale of 0 to 10, how confident do you feel about being a landlord in the UK over the next five years? Base: 257 respondents giving a valid 0–10 answer; age groups 13 to 83. Average score by age; the under-35 group is small, so its figure is indicative.
Age
of those who gave their age are 55 or older. In the government’s survey it is 64%.
65 or over, 11%
55 to 64, 29%
Under 55
Question: Your age. Optional. Base: landlords who answered, 270.
Who’s speaking
Of those who told us what they do:
37%
are in full-time employment
24%
say being a landlord is their main occupation
12%
are retired
Also 13% self-employed in something other than property and 12% part-time. Question: Which best describes your situation? Optional.
Further legislation is the single biggest worry for the year ahead, and for more than half of the over-65s.
name further legislation or regulation as their biggest worry for the next 12 months
“We have done our absolute best to be compliant, but are very worried about any small item we may have inadvertently missed which might land us with a large fine. With that and the threat of even more fees and legislation it feels like the sword of Damocles is hanging above us 24/7.”
A landlord with 5–9 properties in the Midlands, letting for more than 20 years
More of what they said
Rules, tax and costs, in their words.
Legislation
“Rules keep changing all the time. It’s hard to plan ahead, even when you own more properties. You can’t easily work out what you will earn in the future.”
A landlord with 5–9 properties spread across several regions
Costs
“Market changes have a direct impact on rentals. When a house is vacant, fixed costs such as the mortgage still need to be paid.”
A landlord with 10–19 properties in Scotland
Tenants
“Costs keep going up. More tenants ask for pets and push back on rent rises. Picking good tenants is getting harder.”
A landlord with 5–9 properties in the South
Legislation
“I reduced my portfolio in the last two years, selling two successful HMOs, both sold to private investors within five days, as a direct consequence of ongoing council-led legislation without any support from the council. The introduction of digital tax and the Renters’ Rights Act were the last straws.”
A landlord with 2–4 properties in the East of England
Legislation
“More red tape increases admin work. Uncertain regulations make investment decisions slower.”
A landlord with 5–9 properties in the North of England
Agents
“If one has a busy job, being a landlord can be a heavy burden. Authorising a formal agency to manage the property is a feasible option.”
A landlord with 10–19 properties in Northern Ireland
Costs
“The private rented sector is still a profitable occupation, as demand far outstrips supply. National and local government intervention is increasing costs for tenants whilst doing nothing to increase tenant security.”
A landlord with 10–19 properties in the North of England
Tax and MTD
“Not financially viable when owned in a personal name. May as well sell up after 20 years of housing people professionally…”
A landlord with 5–9 properties in the Midlands
Something positive
“Get decent people as tenants, respond quickly to any issues and keep rents on the low side. Three of my tenants have been with me for over 10 years and are happy to stay.”
A landlord with 2–4 properties in the Midlands
Since the Act came into force
Landlords with five to nine properties are the most likely to have tightened referencing.
Share in each group who have tightened referencing or affordability checks since the Act came into force. Across all landlords: 39%.
22%
1 property
17% raised the asking rent on a new let. Small group, indicative.
38%
2–4 properties
38% raised the asking rent on a new let
46%
5–9 properties
46% raised the asking rent on a new let
40%
10–19 properties
27% raised the asking rent on a new let
34%
20+ properties
22% raised the asking rent on a new let
Plans for the next two years
More than half of landlords with twenty or more properties plan to grow.
Landlords with ten to nineteen properties are the most likely to be shrinking, with 43% planning to decrease or sell all. A third (33%) of those with two to four properties plan to reduce or exit.
Increase
Keep the same
Decrease
Sell all
No plans yet
1 property (n=18)
33%
39%
17%
2–4 properties (n=52)
19%
33%
23%
10%
15%
5–9 properties (n=63)
29%
52%
14%
10–19 properties (n=65)
34%
20%
35%
20+ properties (n=67)
54%
12%
15%
12%
Confidence over the next five years
Confidence peaks among landlords with ten to nineteen properties.
1
2–4
5–9
10–19
20+
Average confidence score out of 10, by number of properties owned or let.
5.7
1 property
5.9
2–4 properties
7.5
5–9 properties
8.2
10–19 properties
7.1
20+ properties
7.1
All landlords
Changed nothing since the Act
56%
3%
Single-property landlords are the least affected: 56% have changed nothing. Among landlords with five or more properties, it’s 3% or fewer.
56%
1
22%
2–4
3%
5–9
2%
10–19
3%
20+
Guarantors since the Act
54%
of landlords with five to nine properties now ask for a guarantor where they didn’t before. Across all landlords, it’s 32%.
17%
1
12%
2–4
54%
5–9
35%
10–19
30%
20+
Methodology
Survey details
The August Landlord Survey 2026 was designed and run by August (Augur Technologies Limited), the property management platform for UK landlords. It was hosted on Typeform and open from 4 September 2026 to 25 September 2026.
Published 12 October 2026 · Richard Samuel, Chief Executive of August
