Rental FAQs
The comments provided in this document are intended to give an overview of selected topics which, in the experience of Retirement Villages Group Ltd, have been raised by prospective rental tenants at villages within the Retirement Villages Group Ltd wider estate that offer rentals. Whilst the intention of the document is to provide clarification in respect of the topics covered, the terms of any legal documents to which prospective residents will be required to commit, as a condition of renting a property, will in every instance take precedence over any comment made in this Frequently Asked Questions document.
Can I rent in a Retirement Village community?
| Yes, there are multiple rental options, including long-term rentals, Rent to Buy, and Flexi-Rent for short-term stays |
What are the rental charges?
| exact rental charges, as they vary depending on: The location of the village The property type The tenure option (Regular Rent, Flexi-Rent, or Part Buy, Part Rent) What is included in the rental charge? Full access to resident facilities within the community Service charge (covers communal area maintenance) Flexibility to move in quickly No Stamp Duty Land Tax (SDLT) on rental properties What additional costs are there? Council tax Utility bills (electricity, water, heating, etc.) A refundable deposit (usually equivalent to one month’s rent) Potential increases in rent over time (subject to review) How to find out exact rental charges? Contact us directly to get pricing details specific to your chosen location |
Are your rental retirement properties unfurnished?
| Certain adaptations can be made to suit the tenant’s needs, such as installing blinds or adding furniture if necessary |
How long are your leases and can they be renewed?
| Rental leases are available through Assured Tenancies, also known as Lifetime Tenancies, offering a security of tenure similar to home ownership. Renewal: Provided that rental agreements are honored and payments are up to date, tenants can renew their leases for further terms indefinitely |
What is Part buy, part rent?
| This option allows residents to buy a percentage of the property and rent the rest, making it easier to release some equity while maintaining partial ownership. Rent is only paid on the share being rented, and an assignment fee is only charged on the owned portion |
What tenure options are available at Retirement Villages?
| Full Purchase (Leasehold) Part Buy, Part Rent Rent Rent to Buy (Allows renting before committing to buy) Flexi-Rent (Short-term rental with option to switch to purchase |
Can I rent in any Retirement Villages village?
| Rental options are available at all new properties and a selection of pre-owned properties. Availability may vary depending on location |
What do I need in order to rent a retirement property?
| A "Bank Reference" or financial statement in the tenant's name is required to ensure that rental costs can be met comfortably |
Do I need to pay a deposit to secure a rental retirement property?
| Yes, a security deposit equivalent to one month’s rent is required before moving in. The deposit is held in the Deposit Protection Service (DPS) and is refundable upon a satisfactory inspection when vacating the property |
Can my rental payments increase?
| yes, rental prices may be subject to periodic review. |
Can I sublet my rental retirement property?
| No, we dont allow sub-letting. |
Can i buy a retirement property to rent out?
| No, we dont allow sub-letting |
Can I rent as a trial before buying?
| Yes, through the Rent to Buy scheme, you can rent for up to 24 months before deciding to purchase the property, For Flexi-Rent or Short-Term Rentals, rent adjustments may occur when renewing the contract. |
Can I rent short term at a retirement community?
| Yes, short-term rentals are possible through Flexi-Rent, which allows tenants to try different properties before committing. |
Can I rent-to-buy at a retirement community?
| Yes, the Rent to Buy option allows tenants to live in a property while still selling their existing home, with the ability to complete the purchase within 24 months. |
What is the cost of ground rent?
| Depending on the specific lease, a Ground Rent will often be payable and may increase over time. Our Key Facts and Financial Implications documents, available from the Village Manager, provide fulldetails.’ |