England’s private landlords continue to be predominantly small-scale investors, with nearly half owning just one rental property, according to a recent analysis by Propertymark. The sector is also characterised by an ageing demographic, with the median landlord age at 59 and almost two-thirds aged 55 or older. These findings highlight the importance of recognising the diverse makeup of landlords when considering future policy and regulatory changes.

Landlord profile remains largely unchanged

Propertymark’s review of the English Private Landlord Survey 2024 alongside the latest English Housing Survey data reveals that the structure of England’s private rented sector (PRS) has remained stable. Just under half of landlords own a single property, while 38% hold between two and four properties. Less than 20% of landlords have five or more properties, yet this minority manages nearly half of all tenancies.

This small-scale profile underlines the fact that the PRS is predominantly supported by individual investors rather than large institutional operators. For many landlords, property investment forms part of retirement planning or a means to supplement income, rather than a full-time business.

Commitment amid uncertainty

Propertymark’s chief executive, Nathan Emerson, emphasised the sector’s stability but noted ongoing challenges: “These figures show a private rented sector that’s stable in profile but still navigating uncertainty on tax and standards.”

He highlighted that many landlords remain committed to their properties and tenants, but there are “awareness gaps around legislative change” that point to a need for clearer guidance and greater engagement. Mr Emerson also stressed the importance of using regulated and professional letting agents to help landlords manage compliance.

As discussions continue around rental standards and tax policy, it is crucial that reforms take into account the varied motivations and circumstances of landlords, particularly the smaller investors who form the backbone of the sector.

Ageing landlord population and sector fragility

The median age of landlords is 59, with nearly two-thirds aged 55 or older, a figure that has remained consistent over recent years. This demographic trend reflects a sector largely sustained by later-life investors rather than institutional landlords.

While this stability has helped preserve rental supply, it also introduces potential vulnerabilities. Older landlords with limited property portfolios may find it increasingly difficult to absorb rising taxes, regulatory complexities, and the costs associated with capital works. This could lead to unplanned exits from the market, which may reduce rental availability and tenant choice.

Given that almost half of landlords rely on a single property, Propertymark warns that policy decisions must consider the realities faced by these smaller landlords. Measures that increase costs or administrative burdens without providing clear support risk disproportionately affecting this group.

Propertymark advocates for a stable regulatory framework that supports responsible ownership, encourages professional advice, and offers certainty regarding future rules.

Energy performance improvements remain limited

Among landlords with properties rated EPC D or below, only a minority intend to make energy efficiency improvements. The primary barrier cited is cost, particularly for smaller landlords who face higher borrowing expenses and reduced mortgage interest relief.

Additional challenges include higher taxation and restrictions on reinvestment budgets, which further constrain landlords’ ability to fund improvements. Practical concerns such as tenant disruption, difficulties in finding reliable contractors, and uncertainty over recouping costs through rent also dampen enthusiasm for energy upgrades.

Propertymark notes that many landlords are hesitant to invest in energy performance improvements without clear timelines, firm requirements, and defined exemptions.

Implications for landlords and policymakers

Comparing data from 2024 with that from 2021 shows that the core landlord demographic remains stable, but awareness gaps around tax and regulatory standards persist. Policymakers should recognise the central role that smaller landlords play in maintaining rental supply when designing future tax and compliance frameworks.

Ensuring that reforms do not inadvertently reduce the number of small-scale landlords is essential to preserving tenant choice and rental availability across England.

Looking ahead: support for landlords

The Landlord Association (TLA) is launching a new Trusted Partners Hub in the first quarter of 2026. This initiative will feature verified and approved service providers selected to support landlords, tenants, and property management businesses. Legal, trades, insurance, financial, mortgage, tenant screening, and other service providers are invited to register their interest to join the hub.