Real Estate Management Company in Los Angeles News – Most People Over Age 55 Are Renting
In the latest Real Estate Management Company in Los Angeles news we know that more people over the age of 55 are renting instead of buying homes.
Why the sudden change?
There was a time in history when it seemed like every person over the age of 55 owned their own single-family home, condo or town-home but times have changed and in today’s world it’s not uncommon to find older individuals who want to rent instead of buy.
Why Are More People Over the Age Of 55 Renting Instead of Buying?
Thanks to recent data from the National Association of Home Builders we know that more people over the age of 55 are renting instead of buying.
This change in their habits could be due to the fact that some older people want to live closer to their adult children instead of buying a home in the towns where they are living.
For other older individuals, the choice to rent instead of buying a home could be due to their desire to remain flexible in their housing choice and not be tied down to living in one place like their parents did before them.
What’s the Appeal of Renting to Older Renters?
If you own rental property you most likely will have heard about the benefits of renting to Millennials, but what’s the appeal with renting to an older renter over the age of 55?
Older renters typically have more disposable income to work with and often don’t hesitate when it comes to living in a rental home that’s part of a community and has amenities while other older renters won’t think twice about living in an area that’s near recreational options like the beach, parks, hiking or biking trails.
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