On 4th December, 2024, the Ministry of Housing, Communities, and Local Government shared The English Private Landlord Survey (EPLS) report. We’ve read it so you don’t have to, and shared our top takeaways with you below.

If Appendices full of extra info and technical reports are your thing, don’t worry, we’ve shared a link to the full report as well.

The findings here are from a survey concluded in the first half of 2024, before the change in government. The survey respondents were direct landlords, who registered themselves with one of the three government-backed Tenancy Deposit Protection Schemes, so those using an agency might have a different experience and this is not a full-sector report. There were over 9,000 respondents to the survey.

TL;DR

Here just for the headlines? We’ve got you covered with our top ten:

• 83% of landlords earned a profit in 2023, but rising costs are cause for concern.
• 45% of landlords owned one rental property, representing 21% of tenancies.
• 38% of landlords owned between two and four rental properties, representing 30% of tenancies.
• Around three in five landlords had at least some borrowing on at least one of their properties.
• 26% of landlords said they identified damp or mould in at least one of their properties last year, with 18% sharing that tenants raised complaints about damp or mould.
• 58% of landlords increased the rent the last time they let to new tenants, with a median increase of 11%.
• Most tenancies ended at the request of the tenant, through not renewing, or giving notice.
• Over 40% of landlords in the survey viewed their properties as pension contributions, along with over 40% preferring property investment over other types of investment.
• Over 50% of landlords view their role as a long-term investment contributing into their pension, not as a business, whilst 19% considered it a full-time business, and 28% a part-time business.
• Whilst there was an increased awareness of regulations and legislation changes, implementation challenges remain across the sector.

Further Insights

91% of landlords said they provided tenants with the EPC (Energy Performance Certificate) at the start of a tenancy. The EPC provided to tenants has been a legal requirement since October 2008, so whilst the figures from this report are an improvement over 2018, at 84%, there’s still room for improvement to provide tenants with all the information they need before the tenancy agreement is signed.

Likewise, 68% of landlords provided the “How to Rent” Guide for their most recent tenants, up on 2018’s 52%, showing further progress.

99% of landlords confirmed a working smoke alarm installed on every storey of their property and over half of landlords had carried out a fire safety risk assessment.

In Summary

Overall, it was a mixed bag when it came to plans for the future, with some landlords planning to decrease their portfolio size, whilst others look to increase. Some landlords indicated an intention to sell their properties and leave the marketplace, and of course, new landlords will be entering.

One thing was clear across all segments; the approach to managing property is changing. With increasing updates to legislation and introduction of new laws regarding renting and tenancy, being confident on compliance, and having ease of access to required information and documentation is now an essential part of the scope of a landlord’s role, and the next two years will bring changes for landlords and tenants alike, impacting the way property rental in England works from hereon out.

togetha automatically sends important documents to your tenants as soon as the lease is signed, including Right to Rent, Electric Certificate, Gas Certificate, and EPC. Book a demo today to see how we can save you up to 20 hours of admin time every week, and save you money whilst you’re at it too!