If you are a landlord, it is helpful to know what sort of tenant you would prefer to let to. It might be there is a predominant demographic of tenants in your local area, and by presenting your rental property to meet their needs, you enhance your chances of letting your rental property.

At Andrew Lees, we are here to assist you.

We are pleased to say we know the local rental market well in Bridgwater. If you are looking for guidance on the market, or who the most likely tenants are, we can help.

Not only do we engage local landlords and tenants, we stay in touch with national studies and research. It seems as though there is growth in later-life renting, and this isn’t going away.

If you are a Bridgwater landlord, make sure you are aware of this market, and how you can reach them.

This is a growing area of the English rental market

Paragon Bank states that in the past decade, the number of English households in the 55- to 64-year-old category who are in the private rental sector with an Assured Tenancy has risen by 118%.

Some of the reasons cited by the respondents include:

  • 68% of people aged 55 or over said renting suited their needs or that they enjoyed renting

  • 63% of respondents said they were happy to not have to worry about repairs around their home

Later life renting makes sense for many reasons

Jamie Turnbull is the Business Director of Girlings, and he has spoken about some of the benefits that older tenants receive from renting. Some of these benefits include:

  • No longer having to worry about property maintenance

  • Having a secure and safe living environment

  • If the tenant(s) has downsized by selling a property, they have money to use as they see fit

  • Renting allows many retirement aged tenants to live in the heart of their town and centre, being closer to facilities and transport option

  • Smaller properties should be easier to clean

Jamie Turnbull said; “As people age their housing needs change. Many want to live independently but also be part of a community of people so they have likeminded people to socialise with. They also want to feel safe and secure with people around them should they ever need help.”

Jamie Turnbull continued by saying; “Renting in a retirement development can offer all these benefits. It also enables people to downsize from a larger home to somewhere smaller and more manageable, releasing capital in a home if they own it. Most of our properties come with assured tenancies too so people have the same security of tenure as home ownership.”

Jamie Turnbull concluded by saying; “Renting can also be an easier way to move to somewhere new without the commitment involved with buying a home. Many people want to retire to popular retirement hotpots such as by the sea or close to lots of amenities.”

As an experienced letting agent serving the Bridgwater community, and many of the surrounding areas, we are here to help. We promise to stay in touch with the latest technology, helping our clients to achieve more, and we aim to support the local community as best we can. If there is anything, we can assist you with; please contact Andrew Lees Lettings today.