How well do you know landlords?

Every lettings agent thinks they know landlords inside out. After all, you speak to them every day, handle their properties, and deal with their tenants. But do you really know them? The latest English Private Landlord Survey 2024 is packed with fascinating insights into who landlords are, how they operate, and where their heads are at in the current market. And if you want to attract and retain landlords, these insights should absolutely shape how you market your services.

Who Are Your Landlords, Really?

Forget the stereotype of the mega-rich property mogul lounging on a yacht. The data shows that 45% of landlords own just one property, and a further 38% own between two and four. Only 17% own five or more properties – yet these landlords account for nearly half of all tenancies.

That’s a huge reality check. If most landlords are accidental or small-scale investors rather than full-time property tycoons, their motivations and pain points are likely very different from what you might assume. They’re not necessarily experts, they’re often juggling property management with other work, and they might be feeling pretty overwhelmed by legislation, tenant issues, and rising costs.

What’s Keeping Landlords Awake at Night?

Landlords in 2024 have more on their plate than ever before. The survey reveals that 31% plan to shrink their portfolio in the next two years, with 16% considering selling up entirely. Compare that to 22% in 2021 and just 16% in 2018, and the trend is clear – landlords are feeling the squeeze.

Why? It’s a perfect storm: tougher regulations, rising interest rates, tax changes, and uncertainty over the Renters’ Reform Bill.

If your marketing still talks about maximising returns and growing their portfolio, you could be missing the mark. Many landlords aren’t in expansion mode – they’re in survival mode. What they need is reassurance, compliance support, and expert guidance on keeping their investments viable.

How Are Landlords Letting Their Properties?

While 52% of landlords manage their properties themselves, a huge 43% use letting agents for tenant finding, and 18% use agents for full management. And here’s the kicker: landlords with bigger portfolios are far more likely to use agents.

This means your best marketing bet isn’t just targeting all landlords but being laser-focused on the ones who actually need your services – those with multiple properties or those who are struggling with self-management.

What Are Landlords Charging?

The majority of landlords increased rents on their last new letting (58%), with a median increase of 11%. Even for tenancy renewals, 52% put the rent up, albeit at a lower median of 8%. What’s driving this? Unsurprisingly, many landlords cited increased mortgage costs and market demand.

For agents, this is an opportunity. If landlords are hesitant to raise rents but need to, they need someone who knows how to price strategically and communicate increases to tenants effectively. That’s where you come in.

How Can You Use This Data in Your Marketing?

1. Speak their language – If you’re still using outdated assumptions about landlords, you’ll struggle to connect. Small-scale, part-time landlords with one or two properties need a very different message from seasoned investors.

2. Address their fears – Position yourself as the solution to their biggest headaches. Are they worried about compliance? Tenant issues? Void periods? Make sure your marketing highlights how you solve these problems.

3. Focus on full management – If the data shows that landlords with bigger portfolios are more likely to use agents, tailor your messaging towards this segment. Show them the benefits of outsourcing, and position your service as an essential, stress-reducing investment.

4. Provide market insight – Landlords are keenly aware of shifting market conditions. Show them that you’re not just a letting agent but a knowledgeable partner who can guide them through the current landscape.

   
   

The Bottom Line

The English Private Landlord Survey 2024 paints a clear picture of today’s landlords: mostly small-scale, increasingly cautious, and facing significant financial and regulatory pressures. If you want to win their business, your marketing needs to show that you get them. It’s not just about renting properties – it’s about helping landlords navigate a challenging market.

So, how well do you really know your landlords? And more importantly – do they know you as the agent who truly understands their needs?