There’s a reason retirement communities are so popular amongst the residents that live in them. This unique lifestyle choice is all about that - lifestyle. To us, at least, retirement village life is about living well, choosing yourself and maintaining your independence, all while surrounded by like-minded individuals.
What makes this lifestyle choice even more unique is the number of tenure options available to you in the UK. From buying a property, to renting, to somewhere in between, it’s all about making choices, not compromises.
And when making any big life change, it’s important to weigh everything up to ensure you’re confident in your decision. If you’re considering renting in retirement for all the freedom and flexibility it offers, let's take a balanced look to help you decide if it’s right for you.
Understanding the rental process
Retirement villages often offer fixed-term leases, typically lasting 12 months, which could be ideal for those seeking a trial period before making a long-term commitment. Before signing anything, make sure you understand the renewal policies; some villages may offer automatic renewals, while others might require a new agreement. Always be sure of the terms of the agreement beforehand.
Our villages offer assured tenancy leases, typically for 12 months. This means you can settle in knowing you're secure for the whole term, promising stability and peace of mind. We appreciate how unique everyone's circumstances are too, which is why we also offer our Flexi-Rent option - this lets you move into one of our communities as a tenant right away, in a home of your choice. If you love it, you even have the option to buy. If not, no problem - there’s no strings attached.
Beyond the base rent: what to expect
While the base rent might cover many essentials, always clarify what additional costs you may need to consider, like council tax and utilities. It’s also worth clarifying service charges for amenities like housekeeping or communal facilities (they’re included in the rental costs at our communities, but we can’t speak for everyone).
It’s all these amenities and services that make the retirement community lifestyle what it is: a place to thrive; a buzzing social hub; somewhere you can belong. Consider if this is the lifestyle you want in retirement and, most importantly, if it’s financially viable for you. Safeguarding your finances and spending wisely, especially in retirement, is fundamental to enjoying a stress-free later life.
If you choose to rent in one of our communities, a weekly house clean and laundry is covered - our residents love how much this frees up their time to enjoy our onsite facilities. You’ll also find that most maintenance is included too. Which brings us to our next point...
Maintenance: hassle-free living
One of the major advantages of renting in a retirement village is that it takes away the responsibility of managing your property’s maintenance.
Typically, village management handles landscaping, minor repairs and the upkeep of communal spaces. For any repairs within your unit, it’s useful to clarify with the administration what’s covered and what falls under your responsibility so there are no surprises.
We have a dedicated maintenance team in each of our communities that manages the upkeep of communal grounds, buildings, and essential equipment. They’ll also take care of minor structural repairs to your home. And they’re on hand for emergencies that occur outside of normal working hours, so you know you always have a number to call if you need help.
Considerations for space and comfort
Benefits of renting: flexibility and freedom
Renting can offer a lot of flexibility compared to owning. If your circumstances change, or you’re simply looking for a change, renting makes it easier to relocate. Whether you’d like to move to another retirement village that better suits your needs or to a different location altogether, moving out of your property is a lot easier if you don’t have to sell.
This flexibility means you can adapt your living arrangements to match your lifestyle in retirement without the burden of selling a property.
Making an informed decision
While renting doesn’t offer property equity in the future, by choosing to rent in retirement, you’ll free up the capital from the sale of your previous up. This release of funds opens so many doors in retirement, like travelling, trying new hobbies or supporting family.
However, always remember that, when considering your finances in retirement, it’s important to understand potential rent increases and the terms outlined in your rental agreement for termination to avoid surprises and plan effectively.
Before making a final decision, consider seeking advice from a financial advisor or a solicitor specialising in elder law to ensure you fully understand the agreement and your rights. This careful consideration will help you enjoy a secure and fulfilling retirement.
Renting in a retirement village may be the right move if you’re seeking independence and flexibility, alongside the support of a buzzing, thriving community. By carefully considering the benefits and responsibilities, you can make a choice that aligns with your retirement goals for a fulfilling, enjoyable lifestyle.
Ready to start window shopping? Browse our current retirement properties to rent to see if any might feel like home...