Everyone’s different, but we all want to live happy, healthy, independent lives – and that might be why you’re considering renting in retirement. It’s certainly why we’ve introduced different purchase and rental options, so you have the option to choose what works best for you.
Renting in retirement is becoming increasingly popular. Rather than committing equity into a property purchase, people are releasing this money and preferring to pay a monthly inclusive charge (covering the rent and resident service charge), keeping their options open.
While some people want the freedom to try different living options and not be pinned down to one particular UK location for years and years; others will use renting to allow them to keep close to their wider extended family and remain flexible. For others, the option to release a sizeable amount of equity when selling their former home can open up endless opportunities.
Renting in retirement can give you the flexibility to enjoy living life the way you want to live it.
In considering any equity release you should consider your future income needs and seek independent financial advice.
Advantages of renting over buying
No stamp duty to pay
Like any private rental agreement, tenants at any of our communities are not required to pay stamp duty if they are not purchasing a property.
Many choose to take advantage of the equity released from the sale of a property to provide them with financial freedom, using this to boost their pension or fund travel plans.
Helping family earlier
Rather than passing on a property to family, retirees are choosing to sell their home and use the equity to help their family earlier – perhaps to support grandchildren, or freeing children from their own mortgages.
Renting in retirement provides greater flexibility
Renting provides a certain flexibility that purchasing a property doesn’t. Those that choose to rent their home have the flexibility to move to any location they desire.
The charges pay for village maintenance, including the staff that provide a housekeeping service (in some locations), laundry service, external property tasks, all the grounds upkeep and ensure the clubhouses look exceptional and the amenities tick over nicely.
The perfect time to move
Ask us about our rental offers! Alongside these many benefits we also regularly have rental offers available, which could make renting in retirement an even better option.
We are making it easier to take the first step
Renting in retirement: Your options
At Retirement Villages Group we have two rental options available. By taking advantage of either rental package you’ll have full access to the community’s amenities, including the vibrant clubhouse, social calendar and stunning private grounds.
Option one: Rent to Buy
Take the pressure off selling.
Our rent to buy scheme allows you to move into your new home much sooner than if you await a house sale, meaning you can start to enjoy village life immediately.
This works in three simple steps:
- You exchange contracts on your new Retirement Villages home and pay a 10% deposit.
- You move into your new home and enjoy six months, rent free.
- You then have between 6-24 months paying full rent until completion.
Rent to Buy removes some of the time pressure from selling your existing home. It also means you can enjoy six months rent-free living – the only additional costs are your council tax and utility bills.
Contact us to learn more about renting a retirement property with our Rent to Buy scheme.
Option two: Long-term rental
Find your place, without any permanent commitments.
If you feel that retiring is your perfect chance of adventure and you’re not 100% sure where you want to put down roots, then a long-term rental could be the perfect option for you. An excellent benefit of this option is that you can move across our different retirement communities – truly making the most of flexible living.
Equally, renting gives you a great opportunity to try out the lifestyle without making a permanent commitment from the outset.
How does a long-term rental work?
We offer a minimum 12-month Assured Tenancies. The monthly rental fee includes full use of all of our community amenities. The only additional costs incurred will be your council tax and utility bills.
Of course, the great benefit of a long-term rental is no stamp duty to pay.
Contact us to learn more about long-term rental options for retirement properties:
Renting in a retirement village
There are many different types of retirement homes available to rent, including apartments, cottages and bungalows. Support options are available too, should you need them now or in the future.
Please note: only properties owned by Retirement Villages Group are available through a rental package. Rental properties are available at:
- Charters Village
- Debden Grange
- Gradwell Park
- Elmbridge Village
- Gradwell Park
- Lime Tree Village
- Mayford Grange
- Moat Park
- Roseland Parc
- Thamesfield Village
To learn more about renting in retirement and at our communities, please do contact us. We would be delighted to tell you more about how it can work for you, the properties available to rent and even to book a look around so you can see all our communities have to offer.
To learn more about our short term rentals, please see our short-term fully furnished page.