38% of landlords want to expand their property portfolio in the next 12 months, according to a recent survey by Lendlord, the digital platform for property investors and landlords.

The Lendlord UK Landlord Survey, which polled over 200 landlords, also revealed that 20% are looking to renovate their properties in the next twelve months, while 42% plan to concentrate their efforts on renting out their existing properties.

When it comes to investment goals, landlords prioritise improving the value of the properties in their portfolio (45%) over the coming year, closely followed by increasing rental income (38%). Meanwhile, 17% of those surveyed are looking to diversify their portfolios over the next twelve months.

Turning to how investors plan to fund their endeavours, 40% intend to leverage existing equity in their portfolio, while 35% would consider taking out a new mortgage or loan. Meanwhile, 25% of investors are open to partnering with others to achieve their property ambitions.

Lendlord users also anticipate challenges in 2024. Market fluctuations (42%) are the top concern, followed closely by worries about keeping up-to-date with regulatory changes (38%). Additionally, 20% of Lendlord users express concerns about property maintenance management.

Looking beyond 2024, the overwhelming majority of respondents (82%) expressed a desire to continue growing and expanding their property portfolios. Meanwhile, 13% aimed to focus on managing and building on their existing portfolio, with only 5% prioritising achieving a steady passive income.

Aviram Shahar, co-founder and CEO at Lendlord, said: “Despite the wide range of challenges investors are currently facing, there remains a strong appetite among landlords to grow and invest in their portfolios over the next 12 months.

“Investors are renowned for their entrepreneurial spirit, and the results of Lendlord’s UK Landlord Survey illustrate their determination to capitalise on available opportunities and achieve their investment goals.

“There is currently high demand for rental property, which alongside the potential for both capital appreciation and steady income growth, continues to make buy-to-let investments appealing in the long run.

“The Lendlord user survey depicts a UK property market brimming with activity and ambition in 2024. As the market continues to evolve, Lendlord users are well-positioned to seize opportunities and manage challenges, thanks to their data-driven insights and strategic planning.

“The sector is set for an exciting year in 2024, with Lendlord users at the forefront of this market.”