As we approach the end of the year, now is the perfect time for landlords to review their portfolio’s performance, tie up any loose ends, and get ready for the new year.
Being organised and proactive is key to the success of any business. For landlords, staying on top of finances and compliance not only helps to minimise stress but also lays the groundwork for a profitable business.
With several changes to the property rental sector expected in 2026, preparing early means you can enter the new year feeling confident, organised, and with a clear sense of direction.
To help you out, we’ve created this practical end-of-year checklist. Tick off each task to wrap up 2025, prepare for the year ahead, and begin 2026 in control and ready for whatever comes your way.
Prepare your January self-assessment tax return
Few things bring on the January blues faster for landlords than scambling to complete a last-minute tax return.
Remember, the deadline is 31st January, and if you’re late with your submission, you can expect a penalty from HMRC.
This time round, why not do all the legwork before the new year, to save yourself from unnecessary stress? Trust me, future you will be thankful you did!
- Collate all of your receipts, invoices, and bank statements and prepare your income and expenditure reports.
- Make sure you have your mortgage interest statements and evidence of deductible costs.
- If your accountant handles your tax return, send them your financial records so they can review them before January.
- If you haven’t already, sign up for PaTMa Property Manager to switch to digital record-keeping and accounting ahead of the Making Tax Digital deadline in April 2026.
Don’t forget to check if you owe a payment on account in January to avoid getting a nasty surprise in the new year!
Review your operational expenses
Want to increase your portfolio’s profitability next year? Well, the best place to start is by lowering your expenses. Reducing your operational costs now will help you start the new year in a stronger position, providing more long-term stability and giving you greater financial flexibility.
- Compare providers to make sure you’re getting the best deal on regular outgoings like mortgage payments, insurance, letting agent fees, and contractor costs.
- Check that you’re claiming all allowable expenses to reduce your tax liability.
- Ask an accountant for advice on how you can become more tax-efficient in 2026.
When comparing providers, don’t be shy about negotiating the price, especially if you’re renewing a contract.
Review your property portfolio’s performance
Even when everything appears to be ticking over just fine, you’ll find there’s always room for improvement. If you want to boost your portfolio’s performance in 2026, take time to review the following key performance indicators before the year's end.
- Calculate and compare each property’s annual net yield.
- Work out each property’s void rate.
- Track long-term capital growth and equity.
- Work out repair costs as a percentage of rental income.
- Evaluate each property’s return on investment (ROI)
- Identify underperforming properties to sell or refinance in 2026.
Understanding these figures will help you make more informed business decisions in 2026.
Prepare for legislative changes in the New Year
The rental sector is expecting significant legislative changes in 2026, so landlords need to be ready to adapt the way they run their business before the new laws take effect. If you don’t, you could face reputational damage, fines from HMRC, or even legal action.
Put aside some time before the new year to review the upcoming changes and make a list of things you need to do to prepare and stay compliant in 2026.
The key legislative changes expected in the property rental sector in 2026 are:
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The Renters’ Rights Act
The Renters’ Rights Act received Royal Assent on October 27th 2025, with the changes due to be introduced in phases throughout 2026, starting from May 1st. The Act will abolish Section 21 evictions and require all assured shorthold tenancies to transition to periodic tenancies, among a host of other changes, which you can learn more about on the Gov.uk website here. -
The introduction of Making Tax Digital for Income Tax Self-Assessment (MTD for IT)
From April 2026, all landlords with a gross annual rental income of £50,000 or more will need to start keeping digital records of their property income and expenses and submit quarterly updates to HMRC online, instead of just completing an annual tax return. Landlords should sign up for and start using an MTD-compatible software like PaTMa before this date.
Why not create your own timeline of changes, including any updates you need to make to your onboarding or property management processes, and when you should make them to stay compliant.
Review insurance cover and safety certificates
The end of the year is a great time to check the validity and renewal dates for your portfolio’s insurance and safety certificates to ensure you start the new year with adequate protection.
- Check your insurance renewal date and set a reminder to compare providers closer to the time.
- Review your level of cover to ensure your insurance still covers the appropriate property type, tenant profile, and rental income.
- Check that your Gas Safety Certificate and Electrical Installation Condition Report (EICR) are both still valid and book inspections for the new year if needed.
If you manage an HMO, it’s particularly important to make sure that your insurance includes adequate landlord liability cover, as HMOs are higher-risk properties.
Tools like PaTMa Property Manager can be used to store important insurance and compliance information and set reminders for renewal dates.
Inspect rental properties and plan maintenance and repairs
Carrying out regular property inspections helps to identify problems before they have time to snowball into more expensive repair jobs. The cold and wet weather can cause issues like mould, damp, and leaks if the property isn’t being well-maintained, so now is a great time to book a visit to carry out an inspection and plan any necessary repairs before the cold weather sets in.
- Book a date and time to inspect properties.
- Inspect and clear roofs and gutters.
- Look for signs of condensation, damp, or mould and remind tenants what they can do to minimise these problems.
- Perform winter garden maintenance.
- Test the smoke and carbon dioxide alarms (there’s a higher chance of fires during the holiday season).
When carrying out the property inspection, take photos to document the condition of the property. This is useful for your own records and to use as evidence if any disputes arise in the future.
Review tenancies and tenant relationships
The holiday season is a great time to review tenancies and check in with tenants, especially if you’re visiting the property anyway for an inspection.
- Check tenancy end dates and notice periods for each property.
- Send renewal offers to tenants who are approaching the end of their tenancy or set reminders to do so next year.
- Compare your rent rates to those of similar properties nearby to ensure you’re still charging competitively.
- Send a holiday greeting card to tenants and thank them for looking after your property.
Small, thoughtful gestures can make a big difference. Checking in to see how tenants are getting on, sending a Christmas card, or leaving a tin of biscuits for long-standing tenants after a property inspection can all help to create a more positive landlord/tenant relationship, improve communication, and ultimately reduce tenant turnover.
Look for new opportunities and set goals for 2026
Want to make 2026 a year of growth? After reviewing your finances and tenancies, you’ll be in a better position to start making informed decisions about what direction to take your rental business in in 2026.
- Decide what you want to prioritise in 2026 – is it growth, diversification, property renovation, or something else entirely?
- Set SMART business goals for the year ahead to help you stay focused.
- Use the PaTMa Deal Finder to make data-led decisions on how to grow your portfolio.
- Research specialist landlord tools like PaTMa Property Manager to help streamline property management, accounting, and tax submissions.
A little planning now can save you a lot of stress in the new year. Work your way through this checklist, and by the end, you’ll have a clear idea of where you stand with your finances and what you need to do to get ahead of the changes due in 2026.
Let’s begin the new year feeling confident, organised, and ready to make 2026 your best year yet!
