19th December 2011

Consider renting out your house in retirement

Renting out your house during retirement could be a good way to supplement income while maintaining possession of the family home.


That is according to the Association of Residential Letting Agents (ARLA), which has said that rising rents has made this an increasingly attractive option to many retirees.

While in the past many people entering retirement had to sell their home and downsize to a smaller property to provide themselves with extra funds, now they have the alternative of renting out a smaller property to live in and putting their own home on the lettings market.

"With many potential buyers struggling to secure a mortgage, letting your family home rather than selling offers a strong alternative," said ARLA president Tim Hyatt.

ARLA's research shows an increasing number of people are using the private rented market to fund their retirement, with more than two-ifths (42 per cent) of today's landlords having originally invested with a view to creating a retirement nest-egg.

"ARLA members also report that achievable rent levels are increasing, while demand for good quality rental properties remains high," added Mr Hyatt.

"While market conditions remain so inclined, it could be prudent to let out the family home, and use the monthly rental income to invest in renting a smaller retirement home."

The organisation has published a number of tips for those renting out their homes for their first time, detailing essential landlord responsibilities such as using a tenancy deposit scheme and notifying the mortgage provider and home insurance company.

It also advises those becoming a landlord to consider using professional property management services.

"Enlisting a managing agent to oversee the property can be of great assistance, especially if you are moving away from the area," said ARLA.

"At the very least, working with a lettings agent to advertise and fill your home should make the process smoother."

Please contact Martin & Co St Albans on 01727 898236 for advice and a free market appraisal.

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t: 01727 898 236
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Once again, thank you very much for all your time and your utmost professionalism which unfortunately is not often found
with many letting agents these days.


Mrs M 


I would like to say, on behalf of my family and I, we are so happy to be in our new home and would like to thank you both for the excellent service you have provided to both landlord and tenant. It has almost been a pleasure to move! Mr R 


We would love to stay in our current home and under your property management, clearly the best and nicest in St. Albans. Mr & Mrs H 


I just wanted to send a warm thank you to both for your efforts in assisting Matt and I with our new rental property, in St. Albans. We appreciate your professionalism, as well as your personal endeavours. Mr & Mrs G 


Just to confirm we'll be going with your tenant. I have to say the service from you guys has been fantastic.....head and
shoulders above your competitors! Mr H


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I fell on my feet the day I walked into your office! Sounds like you are building up a good reputation. As I said, if you need any references from me for future clients I am happy to provide them." Mrs J


"I am writing to thank you very much for the great efforts you have made in letting my property. This has not been an easy task, and you have approached it throughout in a thoroughly professional and efficient manner. The proof of this is that you have managed to find excellent tenants and so made the task of letting the property easier than it has ever been. Dealing with you has been an absolute pleasure and I very much look forward to using your services in the future. I have no hesitation in recommending you to anyone who has a property to let. Indeed I have already mentioned you and your business to colleagues of mine, and will continue to do so in the future."


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"Thank you very much for your introduction to Martin & Co St Albans. I’ve just let a property through them. Richard is a fine gentleman and has been extremely helpful and professional in the letting process." Mr M


"Thank you for your detailed response Richard. You have been by far the best agent so far, your advertising of the
house on Right Move is by far the best and you’re constantly top of the listings. Good going!" Mr H


Thanks, that's great news! Really appreciate it once again! You're the best! Mr R


'Your service has been first class so thank you very much! I will definitely be recommending you to anyone I know in a rental postion.' Mr. D


Thank you so much for all your help, you’ve really helped to make things less stressful for me. Mr B


Thank you very much for your time today, it is very refreshing to deal with a competent, thorough and professional letting agent! Mr P


Once again many, many thanks for all your help and very speedy responses. It really is a pleasure to deal with agents who know what they are doing. Kind regards. Mr M


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Thank you to both you and Merril for your professionalism and help during the last two months. Mrs L


Wishing you both a very Merry Christmas and all the best for the New Year. Thank you for making the move as straightforward and as enjoyable as it possibly could be.


Ms B 

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