A GROWING number of older people are now renting properties, which might be positive news for potential landlords put off by the thought of rowdy tenants partying the night away.
The demand for affordable homes to rent by older generations is confirmed in a survey by the Local Government Association, the LGA, which represents more than 370 councils in England and Wales.
Its experts anticipate that between 2008 and 2039, 74 per cent of projected household growth will be made up of households with someone aged 65 or older. An increase in age-friendly housing will be crucial to helping older people stay healthy and happy for longer, and reducing demand on NHS and care services.?
The findings come as no surprise to Carl Davis, a partner at Nigel Davis Property Services, the Wellingborough-based independent letting specialists.
He said: “Changing lifestyles mean that many older people are looking to rent a good quality home which meets their particular needs. For some this could be moving closer to their family while for others it might be a property closer to amenities.
“There are always pundits with doom and gloom warnings but we are finding that this is not the case. Those landlords, who are prepared to look at the opportunities, can be rewarded with a regular return on their money.”
A drop in home ownership for the under-25s brings other opportunities for landlords.
“For some tenants the challenge of finding a deposit to buy a property is proving too much but other people have done the calculations and believe renting a home makes sense,” added Carl. “In the past many people, have aspired to buying their own homes but changing lifestyles mean many are looking at the rental market.”
Landlords are encouraged to take specialist advice to make the most of the opportunities.
“We are able to assist throughout the whole process from sourcing a property to purchase, right through to managing the property on an ongoing basis for the new landlord. This support gives many landlords, especially those new to the buy-to-let market, the confidence to commit their finances.”
For information about the full range of services provided by Nigel Davis Property Services call 01933 272292, email carl@nigeldavislettings.co.uk or visit the website at www.nigeldavislettings.co.uk
