How Retirement Renting is Helping Retirees Beat the Squeeze

As the cost-of-living crisis continues to challenge those on fixed incomes, more retirees are turning to rental living as a way to gain financial security, reduce unexpected costs, and enjoy a worry-free lifestyle in later life.

My Future Living, the UK’s leading retirement rentals brand, is urging retirees to consider the benefits of later-life renting. From reduced energy bills to long-term security and support with maintenance headaches, it’s a financial and emotional game-changer for those being hit with higher bills.

For Michael Broome (80) and Anna Harvey (70), making the switch to retirement renting proved life changing. When they were faced with spiralling costs and housing insecurity, the answer for them came through renting in retirement. After losing their rented bungalow of 19 years, they found an unexpected lifeline in the seaside community of Oakhaven in Harwich— and haven’t looked back.

“We were devastated when we had to move,” says Michael. “But now we feel like we’re on holiday every day. Our new home is modern, warm, and affordable — and we’ll never face sudden eviction again.”

Joanne Couch, Finance Director of My Future Living, explains: “With the cost-of-living increases hitting retirees hard, renting in a retirement community can offer real financial relief – lower energy costs, no unexpected maintenance bills, and the security of a long-term home. It’s not just about saving money; it’s about peace of mind too.”

One key advantage is the potential for lower energy costs. Many residents downsize from larger properties, moving into one or two-bedroom apartments that are easier and cheaper to heat. Apartments tend to retain heat better than detached houses, cutting down on heating needs during colder months.

There are also no costly surprises when it comes to repairs or maintenance. With some services and support with upkeep included in the rent, residents avoid large one-off expenses such as boiler replacements or roof repairs, a significant comfort as prices rise across the board.

Anna comments: “Moving here has been a dream come true. We were so worried after losing our bungalow, but we now have a new sense of peace and security. The community is wonderful, and the staff have been so supportive. We’re happier than we’ve been in years.”

Beyond affordability and security, Michael and Anna now enjoy a vibrant community, well-maintained gardens, and access to regular social events. With the sea just minutes away, Michael and Anna have embraced their new lifestyle.

“We feel incredibly lucky to have found this place,” says Michael. “It’s more than just bricks and mortar and knowing we have an assured tenancy means we’ll never have to face the uncertainty of moving again. It’s a huge relief.”

For more information and other available properties visit www.myfutureliving.co.uk.