A growing number of landlords are operating as a full-time business and the number of properties per portfolio is increasing as the rental sector becomes more professional, new data shows.
Pegasus Insight found that the average landlord portfolio has risen to 7.3 properties, up from 6.6 in the last quarter of 2025.
The trend is particularly evident among corporate landlords, whose average portfolio has increased from 12.8 homes in the fourth quarter of 2025 to 15.3 homes in the latest survey.
Pegasus says 21% of hosts now operate their rental business full-time, up from 17% at the end of 2025.
About two-thirds of their properties are now managed by a corporate structure.
The research also shows that refinancing will remain an important driver of mortgage demand.
Nearly four in ten landlords with mortgages expect to refinance in the coming year, rising to 56% among those with four or more buy-to-let loans.
Portfolio landlords are almost twice as likely as smaller landlords to be active in the refinancing market.
Pegasus Insight founder and managing director Mark Long says: “The private rented sector (PRS) is becoming increasingly professional and sophisticated.
“The image of the landlord with one or two properties operating alongside another career no longer tells the full story.
“The PRS is undergoing a gradual but important structural shift.
“We see fewer and fewer landlords treating real estate as a side investment and more and more operating as professional companies with larger, more sophisticated portfolios.
“This has major consequences for the mortgage market.
“Larger landlords tend to have more complex financing needs, make greater use of corporate structures and are more likely to require specialist credit solutions and refinancing support.
“At the same time, these landlords are often the most committed to staying in the sector for the long term.
“As the market evolves, there are increasing opportunities for lenders and brokers who can provide the expertise, flexibility and products needed to support increasingly professional real estate companies.”