With data showing a huge jump in the number of seniors in the private rental sector over the last decade, what impact is this having on those looking to invest in property?
According to data analysis of government figures conducted by the NRLA (National Residential Landlords Association), the number of privately rented homes that have someone aged 65 or older living there has risen by 45% over the last 10 years between 2009/2010 and 2019/2020.
With the number of older and/ or disabled tenants renting or looking to rent, figures show that there’s a lot of work that needs to be done to create a suitable number of properties adapted to their needs.
Financial support for landlords
A shocking 25% of all privately rented households in England that need adaptations say that their needs aren’t being met by the property they currently live in. There is actually monetary support for landlords to help them make any adaptations required by their tenants, but it’s not widely known.
There is something called the Disabled Facilities Grant (DFG) which funds necessary adaptations being made to properties to improve tenants’ quality of life, but according to one survey, nearly 80% of landlords didn’t know that this assistance was available to them.
The NRLA thinks local authorities should be working to raise awareness of this support so that the figure of 25% of rented households requiring adaptations can be reduced dramatically as tenants are able to get the changes they need.
Are you looking to rent as a senior?
If you’re a senior looking to move home in West London, we have lots of local information on our website which might be of interest to you. From the most popular roads with seniors to local businesses and activities, you might enjoy as well as useful local services.