Number of elderly renters likely to rise, claims sector supplier

Number of elderly renters likely to rise, claims sector supplier


Todays other news
The government is starting with training for managing agents...
The provider says this will help agents and landlords fearful...
She has personally developed 49 resi and commercial units in...
Rightmove describes this as a "significant update"...
Other regions are to be featured in the second half...


The head of a retirement rentals brand says the phenomenon of the elderly tenant is on the increase.

Jamie Turnbull, business director at My Future Living, cites a new analysis by Paragon Bank revealing that over half of homes in the private rented sector are anticipated to be headed up by someone over 45 within the next 15 years.

A recent report from the Centre for Ageing Better says today there are almost 11m people aged 65 and over – 19 per cent of the total population – but in a decade’s time this will have increased to almost 13m people or 22 per cent of the population.

Turnbull says, “Renting is a popular choice for older people, especially homeowners who want to downsize after retiring. Renting in a retirement community offers several benefits including the chance to free up capital in a home and move to a smaller property where they don’t have to worry about maintenance, as this is included in the monthly rent. 

“Being part of a sociable community is a big attraction too, plus developments are usually located in convenient locations for shops, transport and health facilities. The majority of retirement rental properties are available on assured ‘lifetime’ tenancies, which give the same security of tenure as homeownership. This means renting can be a viable option, especially for those who have never rented.”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
This is according to research from the Centre for Policy...
The three organisations have been long-standing supporters of Build To...
A comprehensive market analysis produced by Connells’ brand Hamptons...
He’s at the next edition of the Zoopla Property Pitch...
It now progresses to the so-called Report Stage....
The House of Lords committee stage now continues until May...
Richard Donnell is a leading lettings market analyst...
Recommended for you
Latest Features
The government is starting with training for managing agents...
The provider says this will help agents and landlords fearful...
She has personally developed 49 resi and commercial units in...
Sponsored Content
With less than a month to go until the UK...
The UK government has implemented 16 financial sanctions rule changes...
The owners of the Rentman software application (for property Lettings...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here