5 Things Senior Tenants Look for In Rentals
We get it—you love your house. In fact, we’d be willing to bet that you’ve thought a time or two about never moving out of your house. Especially for those people who have lived in their homes for years, it can be a
real downer when it comes time to consider moving on. Whether you’re considering moving out for yourself, or for a loved one, looking for a rental can sometimes be the easiest way to take the heat off of your shoulders. Not only does a property manager care them for, but also they’re a means to making some of your hard earned money back.
Homes are big, expensive, and over time require more care and money to be put into them. This care is, more often than not, something that seniors are unable to do. But what exactly are seniors looking for in their rentals? What are they hoping to get out of moving out of their beloved home and into something newer?
Let’s face it: homes can be a hassle, and by the time your inching into your senior years, they’re typically too large for you to care for. Take, for example, the eighty-five-year-old woman who lives alone in a four
bedroom, three-story house. While it may have been perfect for the family that she raised there, it’s now large and dangerous to move around in. Many times when seniors are looking for a new place, they want to downsize and live in something more manageable. This can mean one or two-bedroom homes on one floor, with the basic essentials needed to live comfortably. Downsizing is a means for the senior to gain back some of their independence and live safely at home alone.
The plus side about downsizing, and downsizing to a rental, is that it saves homeowners money. Putting that big home on the market will cover the cost of rent in the years following, while leaving money left over that can be put in the bank. Depending on where you’re looking, rentals suitable for seniors can be as much as five times less than what might be paid on a mortgage. When looking to move into a new, smaller place, consider the benefits of selling and moving onto a rental before making another purchase.
When senior tenants are looking for a rental to live in, they typically keep an eye on the biggy: being safe. Tenants who feel uncomfortable with the amount of steps, distance from the curb to the front door, or even hardwood floors will move on and search elsewhere. Property managers should be willing to be amenable to the needs of their senior tenants, offering to carpet over hardwood floors, or install lifts wherever necessary. Safety can also stretch to how well lit the area is and whether the senior tenant feels comfortable at night in their surroundings. Though it should always be done so, make sure that all lights surrounding the outside of the home are working prior to showing it, ensuring that the outdoors is safe.
As we get older, our tolerance toward loud noises and crazy parties changes. Where we once might have been able to withstand the screams of children during the summer days, as we get older we might find them tiresome. Of course, this is not to be said for everyone. Many senior tenants still prefer the liveliness that can come from a neighborhood filled with kids. Take a good look around at the neighbors of the potential senior homes. Take note of whether or not there are children, families, college students, ect…. Consider the future and what you’ll want ten or fifteen years down the line. Comfort in the home is number one for any person of any age, which means that great care should be taken to move into a neighborhood surrounded by fellows of your choice.
Location, location, location, it’s the realtor’s motto and has a striking sense of truth to it. Particularly for those senior members of the community, location can mean a sense of freedom or confinement depending on where you look. Places near grocery stores, restaurants, and various forms of entertainments give senior tenants the ability to spend their days running errands without needing to travel too far. Rentals near public transportation systems are also an ideal situation for those unable to drive themselves places.
Rentals are a big selling point for senior tenants. Because property managers typically help out with things like the yard work and plumbing, they can take a load off of any person’s hefty list of things to do. Not to mention, with money going into savings and a smaller home to clean, the right senior rental can bring life back into a home at the same time.