According to research, a new generation of Landlords is emerging as people are investing their money in rental properties in order to help their retirement funds. The research claims that this trend of people looking towards retirement investing in buy to lets has been growing over the last four years, and the number of landlords in their 60’s keeps on rising.
Some of these people are accidental landlords who had perhaps planned on selling their home to retire to a new house or a new area but found that the value was less than they were hoping for. In these cases some home owners have turned to renting their house out, in turn giving them an opportunity to still move on to another property. Others have decided to enter the buy-to-let market to seize the opportunity to take advantage of market conditions, and purchase a property at a reduced asking price, providing themselves with a rental income to further boost their existing pension provision.
This research coincides with another study which has shown that housing benefit tenants looking for a rental property has increased recently as demand is outweighing supply. With a shortage of Local Authority Housing, investors, whatever their age, are well placed in meeting the demands from housing benefit tenants whilst also adding to their income or retirement funds.
For further advice on renting out a property, please contact our Property Management team on 0161 626 6800.