More retired renters now

Published on Mon, 12th Jun 2017 12:00

Retired tenants are becoming a larger part of the rental market, according to the UK's largest letting agency.

Countrywide reports that pensioners paid a total of £3.7 billion in rent over the last 12 months.

This represents a rise of over 200% in the last decade when compared to the £1.2 billion paid in 2007.

“The rental market can no longer be typified by the image of carefree, young professionals," says Johnny Morris, Countrywide's research director.

"More than half of tenants are over 30 and the number of pensioners renting has reached record levels."

He adds: "With younger generations growing up much less likely to be homeowners, tenants are getting older with an ever more diverse group of people calling the rented sector home."