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Retirement rentals?

Retirement rentals?

There are claims within the industry that the government need to encourage investment in specialist retirement houses / apartments. The claims come from a retirement lettings specialist, Peter Girling of Girlings Retirement Rentals who claims demands for purpose built retirement housing is outstripping demand by some margin.

“We have thousands of new enquiries each year from people attracted by the affordability of renting and the availability of assured lifetime tenancies. However, there are simply not enough retirement properties to meet this demand” Girling claims. 

The Campaign for Housing in Later Life, a campaign launched by the Home Builders Federation created in 2013, claims that of the over 60’s in the UK some 3.5 million are ‘interested’ in retirement housing. Currently supply is nowhere near this figure with just 400,000 available for rent and a further 106,000 available for ownership.

William Taylor of Martin & Co Huddersfield (Estate Agent Huddersfield, Letting Agent Huddersfield and Property Management Huddersfield) states “There are a small number of retirement developments in Huddersfield, but mainly aimed at ownership. We have been able to work with a few of these properties in recent years and have always had a high demand. One avenue that was discussed with me was that the younger generation of the family were able to take on the family home whilst supporting their elderly relatives in rented accommodation. The tenants themselves have always spoken highly of the developments we deal with due to their social aspect and reassurance of quick response care if there were any accidents of health issues. I think there is definite scope for development into this area, but publicly and privately.”