The UK seniors’ rental market is growing rapidly, with the number of senior rental units expected to increase by as much as 150% by 2029, according to a Knight Frank report[i]. Changing demographics and lifestyle choices are driving this trend, as older adults increasingly seek sociable, supportive environments rather than the demands of maintaining larger homes.
According to My Future Living, the UK’s leading retirement rental brand, this shift reflects a growing desire among retirees for flexibility, financial peace of mind, and independence, alongside the benefits of a ready-made community. Renting later in life can release people from the costs and responsibilities of homeownership, while providing the security and sociability of developments designed specifically for older adults.
For Margaret James, her retirement flat at Charles Dickens Court in Portsmouth has been more than a home for 32 years; it’s a place of independence, security, and friendship. After the death of her husband, Margaret chose to stay in the community she had come to love. “It’s safe, central, and there’s a real sense of community. We live independently but have lovely communal gardens, plus a communal lounge where residents can meet up for a natter. This is my home and always will be,” she says.
For Paul and Lindsey Jones, downsizing from a spacious Victorian house to a one-bedroom apartment at Hometor House in Exmouth has brought both freedom and financial relief. Facing rising costs and the burden of maintaining their large home, they chose a retirement rental that offered a manageable place to live within a vibrant community.
“It’s much cheaper to run, the apartment is highly energy-efficient, and the assured tenancy gives us peace of mind,” Paul explains. “We have more time for socialising, walks, and exploring the area. The community is fantastic, from tea parties to bingo nights, and the development manager has been wonderful in helping us settle in. We love our new life and the freedom it brings.”
Joanne Couch, Director of Finance & Operations at My Future Living said: “Community is at the heart of retirement renting. Residents consistently tell us that having social connections, and a sense of belonging is just as important, if not more so, than the practical benefits of retirement living. Our apartments offer independence, long-term security, and maintenance-free living, but the friendships, activities, and support network within these communities are what really make for a happy retirement.
“The Knight Frank’s report shows demand for private rental options in the senior market is growing fast, and we are proud to offer high-quality apartments where older people can live independently, safely, and socially.”
My Future Living features retirement rental properties throughout the UK, including a two-bedroom apartment in an over-55s development called Lucena Court in Stowmarket for £875 per calendar month, including service charge and ground rent. This development is pet friendly and has the security of a long term rental contract.
Most developments have communal lounges, gardens, a lift, guest suites and an onsite manager, plus there is a 24-hour careline in most apartments for out of hour’s emergencies. Many of My Future Living properties are available on long term assured tenancies. To find out more about available homes and retirement rental options, visit: www.myfutureliving.co.uk