PropertyZar

The 3rd largest group of renters now fall in the 60+ age group. This has increased by over 42% over the last 10 years.

The aging tenant trend will probably increase over time. 60+ renters are the fastest growing group of tenants.

What’s Driving This

One obvious answer is the decline in home ownership. Many seniors are deciding to rent instead of buying or remaining homeowners. Reasons such as the cost of home maintenance, choosing to downsize etc. So, with the rise of senior tenants, what should you do to prepare for the next 10 years.

Housing Challenges For Seniors

Seniors face challenges that are unique to them. Challenges include the physical property as well as affordability and availability to medical services.

How To Prepare Your Rental Unit For Older Renters

• Consider non-slip flooring in key areas inside and outside
• Fix any trip hazards such as uneven walkways, and tiles
• Add ramps where needed
• If stairs exist, make sure you install handrails on both sides
• Make sure all entryways have