Renting is on the rise among senior citizens

Renting is on the rise among senior citizens amid a boom in demand for retirement living lets. 

Specialist senior living properties to rent are set to jump by 160 per cent over five years, according to property consultancy Knight Frank. 

On the increase: Specialist senior living properties to rent are set to jump by 160 per cent over five years

On the increase: Specialist senior living properties to rent are set to jump by 160 per cent over five years

On the increase: Specialist senior living properties to rent are set to jump by 160 per cent over five years

Lockdown is thought to have accelerated the trend towards later-life renting. 

Retirement property firm Inspired Villages said it had seen a ‘marked rise’ in interest since March. 

Chief executive Jamie Bunce said: ‘The option to rent offers customers a chance to experience the benefits of village life.’ 

Tom Scaife, at Knight Frank, added: ‘Renting in later years gives the flexibility to move around quicker and easier.’

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