Responding to research by the BBC that revealed growing numbers of older people living in private rented housing, David Smith, policy director for the Residential Landlords Association commented: “With Government data showing that rents are increasing by less than inflation and that average weekly rents are lower than weekly mortgage payments, it is not surprising that more older people who are finding it difficult to afford to buy a property are now renting.
“We recognise that older tenants, especially those with children, want security in rented housing. Although official statistics show that tenants have, on average, lived in their existing rented homes for almost four years, we have called on the Government to do more to support the provision of longer tenancies. This includes addressing the problem that mortgage lenders often prevent landlords offering longer tenancies with an RLA survey showing that 44% of landlords have mortgage conditions that limit the maximum length of tenancy that can be offered.
“The growth in the number of older tenants is one factor behind an increase in demand for rented housing at a time when an increasing number of landlords are not investing in more properties or are selling off homes because of Government tax rises on the sector. This is making it more difficult in areas of high demand for tenants to find decent accommodation.”