Almost two in five (38%) landlords have said that they would like to expand their property portfolio in the next 12 months, Lendlord has found.

In a recent survey of over 2,000 landlords by the digital platform for property investors and landlords, it was revealed that one in five (20%) landlords are looking to renovate their properties in the next year.

Furthermore, just over two in five (42%) plan to concentrate their efforts on renting out their existing properties.

Chief executive officer and co-founder at Lendlord, Aviram Shahar, 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 twelve 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."

When it comes to investment goals, landlords said that they prioritise improving the value of the properties in their portfolio (45%) in the next year, followed by increasing rental income (38%). Meanwhile, 17% stated that they are looking to diversify their portfolios in the same period.

Turning to endeavours, 40% of landlords said they intend to leverage existing equity in their portfolio, while just over a third (35%) would consider taking out a new mortgage or loan.

A quarter (25%) also said that they are open to partnering with others to achieve their property ambitions.

However, despite these ambitions, Lendlord found that portfolio owners also anticipate challenges throughout the next year.

Market fluctuations (42%) are the top concern, followed by worries about keeping up to date with regulatory changes (38%). One in five (20%) also expressed concern about property maintenance management.

Looking further into the future, the majority (68%) of respondents expressed a desire to continue growing and expanding their property portfolios, with just over one in 10 (13%) aimed to focus on managing their existing portfolio.

Shahar added: "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."

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