LETTINGS NEWS: Region should stand by for ‘pension pot landlords’
Britain’s leading letting agents’ body is predicting a surge in ‘pension pot landlords’ over the next few years thanks to changes in pension rules coming into force this spring.
The forecast comes from the Association of Residential Letting Agents – a body which helps maintain standards in the lettings sector – in response to a reform allowing over-55s with pension pots to use them for a range of purposes, including buying property to let.
“A lot of people will be looking for a steady investment return and will see property as an easy investment” says ARLA chief David Cox.
The East of Exe area may see many examples of this: about 41 per cent of the East Devon council area are aged 55 and over, while in Exeter the figure is around 31 per cent.