New data suggests that an increasing number of landlords are operating as full-time businesses, and the number of properties per portfolio is increasing as the rental sector becomes more professional.
Pegasus Insight found that the average landlord portfolio rose to 7.3 properties, up from 6.6 in the last quarter of 2025.
This trend is particularly evident among LLC landlords, whose average portfolio rose from 12.8 properties in the fourth quarter of 2025 to 15.3 properties in the latest survey.
Pegasus says 21% of landlords now run their rental businesses full-time, up from 17% at the end of 2025.
About two-thirds of their holdings are now owned within a corporate structure.
The research also found that refinancing is set to remain a key driver of mortgage demand.
Nearly four in 10 landlords with mortgages expect to refinance within the next year, rising to 56% among those with four or more buy-to-let loans.
Portfolio landlords are approximately twice as likely to be active in the remortgage market as smaller landlords.
“The private rental sector (PRS) is becoming increasingly professional and sophisticated,” says Mark Long, founder and managing director of Pegasus Insight.
“The image of a landlord who owns one or two properties working alongside another profession no longer tells the whole story.
“The Poverty Reduction Strategy is undergoing a gradual but important structural transformation.
“We are seeing fewer landlords treating properties as a side investment, and operating more as professional firms with larger, more sophisticated portfolios.
“This has major implications for the mortgage market.
“Larger landlords tend to have more complex borrowing needs, make greater use of limited company structures, and are more likely to require specialist lending solutions and refinancing support.
“At the same time, these landlords are often the ones most committed to staying in the sector for the long term.
“As the market evolves, there is a growing opportunity for lenders and brokers who can provide the expertise, flexibility and products needed to support increasingly professional real estate businesses.”
