I have always targeted my lettings at the under 40s singles and couples and this market of tenants has provided me with rich pickings over the last 20 years. My market composed almost exclusively of tenants that didn't want to be tied down with a mortgage but had enough money to find a place of their own. The natural course of action being to then once they had enough money to buy they would then move on to the housing ladder and set up home. This market is still prospering an my tenant base is rapidly ageing as my tenants have stayed longer and have deferred the next step of buying a home. (Great new for me).
A recent article has prompted me to re-examine my customer base. Census figures show that there are now 1 in 6 of us that are 65 or over (or passed the traditional retirement age). There are now over 9 million people over 65. This makes me think. Should I be looking to the future and be buying a bungalow to cater for this rapidly expanding sector of the lettings market. Is the new essential fitting in a buy-to-let a Stannah lift rather than a power shower? I just wondered if any other landlords were thinking the same?
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I have looked at this before. As the tenant age there is presure to put in wet rooms disabled kitchens and stair lifts, ramps to get them in
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Best to stick with Ground Floor Purpose built Flats for maximum market opportunities - suits any age group!
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