Pensioner Landlord Numbers are on the Rise

05 August 2012 Categories: News

Pensioner Landlord Numbers are on the Rise

According to specialist insurers, Simply Business, the number of pensioners choosing to let their property rather than sell is on the rise, suggesting that the older generation are making the most of the assets they have while the property market is still trying to recover from the decline it has experienced over the last few years.

Research conducted by Simply Business that analysed over 300,000 insurance quotes found that the number provided to retiree landlords was 11% higher than last year, and a staggering 33% higher than 2009 when the buy to let market hit hard times. It is thought that pensioners are now choosing to let their home rather than sell when they move into sheltered accommodation or in with family members.

CEO of Simply Business, Jason Stockwood, commented on the findings of the research, saying “In today’s economic climate, choosing to rent out your property rather than sell immediately has been a good option for many when looking to move, and with the current squeeze on pensions this is proving a good source of income for people of retirement age.

“Buy-to-let can be a tough marketplace to enter, but there is a great deal of support available for those looking to take the plunge, and we provide specialist insurance for people of all ages to start and even grow their portfolios.”