22 Jun

Increase in retired renters

Increase in retired renters

There has been an increase in the number of retired people renting properties in the UK, according to new figures from the National Landlords Association (NLA).

Over the past four years there has been a 13 per cent increase in retired private renters and there are concerns that those approaching retirement age could find it harder to become a tenant.

The number of landlords who let their properties to retired renters has decreased from 19 per cent in 2013 to nine per cent, as competition for rental properties remains strong.

Carolyn Uphill, chairman of the NLA, said: "More and more people are turning to private rented housing at every stage of their lives, including in retirement. Landlords appreciate the stability and assurances often provided by older households, but are finding it increasingly difficult to build businesses around the needs of potentially vulnerable tenants."

She added: "Successive cuts to the welfare budget, uncertainty about pension provisions, and the devastating impact of the Government’s tax changes are likely to mean that private landlords will soon be unable provide homes in high cost areas like Central London for anyone without a well-paying job."ADNFCR-1222-ID-801820514-ADNFCR

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