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More pensioners becoming Landlords!

More pensioners becoming Landlords!

There has been a steep rise in landlords aged 65-plus.

Insurers Simply Business looked at more than 300,000 landlord insurance quotes and found a rise in the number of retiree landlords – up 11% so far this year on last, and up 33% since 2009.

There has been a particular increase in female pensioners renting a property, with an increase of 12% in 2012 and 43% since 2009.
 
Some are letting out their old homes. With the housing market depressed and homes difficult to sell, many retirees now opt to keep their property and let it out when downsizing or moving in with family.
 
Significantly, most pensioner landlords (93%) own just one rental property. Research also shows that most retiree age landlords (74%) have been letting out a property for more than three years.

By contrast, the number of landlords aged 18 to 25 has decreased by 38% over the past three years.