A new report from the Social Market Foundation and sponsored by the Paragon Bank has thrown new light on what today’s older tenants expect from the rental sector, and how they see their long-term housing requirements.
SMF’s survey of over 1,300 tenants showed that 61 per cent of tenants in the 35 to 54 age bracket currently expect to still be renting in 15 years’ time, falling to just under a third for those aged 34 or under.
Over four in five renters aged 55 or over believe they will still be renting in 15 years.
In terms of what is important to more mature tenants with regards to the location of the property, there are clear differences in priorities compared with those in younger age brackets.
Nearly half of those aged 55 or over said that being close to shops was in their top three priorities, compared to 32 per cent of those aged between 35 and 54.
Good transport facilities (40 per cent), being close to friends and family (36 per cent) and proximity to health services (34 per cent) also scored highly for those aged 55-plus.
With regards to what renters want from a property, 41 per cent of those aged 55-plus said having an unfurnished property was in their top three priorities, compared to 16 per cent of 35 to 54 year olds and 11 per cent of 18 to 34 year olds.
This age bracket also expressed a greater desire for pets, with 21 per cent stating this was a top priority, compared to 14 per cent of those aged 34 or under.
We're excited to announce that we're working on building a shiny new website for readers of Landlord Today! As part of this process, commenting on articles will be temporarily disabled. We look forward to sharing our new and improved Landlord Today website with you shortly!
.png)
(1).png)
