With over a quarter of retired households across the UK now renting, a leading figure in the lettings sector wants better landlords, longer-term tenancies and improved management services to encourage still more retirees to quit owning.
Peter Girling, chairman of Girling Retirement Rentals, says while ARLA, NALS, TPO and other bodies do a good job at keeping the PRS professional "the are some rogue landlords giving the industry a bad name" and creating what he calls a "negative mindset" for those in later life who might be considering renting instead of owning.
"The industry as a whole needs to work together to weed out those that give the rental sector a bad reputation, help change perceptions that renting is less desireable than ownership, and ensure a highly professional service for all" he says.
Research from Prudential UK shows that 26 per cent of retired households now rent, with a higher proportion of younger demographic groups now renting too - for example, one-third of renters are now aged 41 or older whereas just two years ago the proportion was a third.
Over 40 per cent of renting retirees had previously owned, and put their decisions to sell and rent down to a need to pay off debts, increase their own retirement income, and to release equity for their children or grandchildren.
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Comments
"....a higher propertion of younger demographic groups now renting too - for example, one-third of renters are now aged 41 or older whereas just two years ago the proportion was a third."
Er - and the difference over those last two years is....!!!