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Senior Citizens Becoming Part Of The New ‘Generation Rent’

Posted by bonnix on July 18, 2016
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Certain property developers specializing in retirement properties, report that there have been a growing trend for some retirees to make some new lifestyle changes and downsize into a rental property instead of purchasing a new one.

Enquiries from senior citizens about renting have revealed a steady growth of around 7% each year over the last four years, and London being one of the Top Five search areas.

A lot of seniors are now looking forward to an active and healthy retirement, so they are most fascinated by the liberty and flexibility that renting can somehow bring.

Downsizing into a rental property suggests that they can release funds for certain reasons such as for travelling or something to lend to family members, and move on once again into someplace else, if that lifestyle suits them.

There are quite a lot of senior citizens that are now deliberately deciding on renting after they retire, so they can delight in the flexibility that renting out properties can offer.

Renting can provide retirees the opportunity to use the funds stored in property, allowing them to fund anything they want to do; everything from holidays up to BTL investments or maybe to help some family members who are in need.

Renting out properties also means that retirees do not have to burden themselves about the preservation and maintenance of a larger property. From a landlords’ point of view, the huge majority of retirees would most probably make an outstandingly responsible tenants.