Looking to rent a retirement property?
With an increasingly ageing population, there are more retirement living options in the UK than you may realise. Around a quarter of the UK population are aged over 55 and the ONS anticipates there will be over 21,000 centenarians living in the UK by 2030. That's a lot of people looking for senior living options to meet their individual needs.
If you're over 55 and are considering moving home then you may consider another residential property, assisted living, a live-in carer, moving in with family, or sheltered housing.
Or, you may consider renting or buying your own retirement property in an integrated retirement community like Mayfield Villages. Please note that we do not currently offer rental properties at Mayfield Watford. To live here you own your property.
To rent or not to rent...
What are the options?
Most senior living options are considered 'downsizing' although retirement properties can be larger than this term suggests. At Mayfield for example, some properties are over 900 sq ft.
When renting or buying property, the most common senior living options are:
- Rent or buy a smaller residential property (often referred to as 'downsizing')
- Move in to sheltered housing or an assisted living development. Most offer rental only
- Move in with family
- Buy a property in an integrated retirement community like Mayfield Villages
- Rent a property in an integrated retirement community
If you or your partner have an immediate care need then this can reduce the options available to you. Renting a smaller residential property would probably not be an option in that situation, for example.
Why move at all?
You may consider moving to be closer to family or perhaps because the upkeep of your existing home is becoming a little too much. Another reason many people choose to downsize to a specialist retirement village like Mayfield is because of an imminent care need or the realisation that care may be needed in the not so distant future.
At Mayfield Watford we provide first class facilities (including pool, gym, beauty and hollistic treatments, hair salon and a bistro) right on our homeowner's doorsteps with around-the-clock care services available should you ever need it.
Frequently asked questions
Can I rent a property at Mayfield Watford?
We don't currently offer a rental option at Mayfield Watford, although anyone over the age of 55 can buy a property here. One bedroom properties are available to own from £424,950. Note: A monthly management fee and deferred management charge apply to the sale of all properties.
If you would like to register your interest in a rental option please order a brochure and be sure to opt in to email and phone so we can contact you with relevant information.
Can I bring my pet(s)?
Yes of course. As well as the financial security of owning your own home, at Mayfield you can enjoy all the benefits of joining our vibrant community, let us take care of the responsibilities of maintaining gardens, exteriors and security, and you can enjoy all your home comforts, including your pets! How it works at Mayfield
What fees do I need to pay if I live in a retirement village?
At Mayfield we collect a monthly management fee and deferred management charge, to cover the village costs and the expense of any major works required. This covers exterior maintenance of your home, buildings insurance, Mayfield Club membership, 24/7 security, village and grounds upkeep, and charges associated with the business such as staffing. When the time comes for structural repairs or improvements such as resurfacing road and pathways or reroofing, these are all covered.
Your monthly management fee is charged per month depending on the option you choose when you buy a property here, and the deferred management charge is payable from the sale of your home, or change of occupier. This means everyone who lives in a Mayfield village can relax, knowing there will always be enough funds to carry out any works and guarantee that each property can increase in value on the housing market. As soon as you’ve sold or let your property you contribute 1% of the achieved market price or agreed valuation, per year of occupation, before gaining profits.
I rent my current property, can I still buy a property at Mayfield?
That is certainly an option. Our sales team are very experienced in property sales and can talk through all options available to you as a new homeowner. Retirement mortgages are also an option that some people consider. We can arrange a visit, either face to face or over the phone, to talk through your requirements and current situation.
Can I sell my Mayfield property later?
When you come to sell your home, our staff will help complete the sale as quickly and as efficiently as possible. On all resales, Mayfield will charge a sale administration fee of 1% of the greater of the achieved market price or agreed valuation. This covers the costs that Mayfield incurs in administering sales and explaining the Mayfield retirement living concept to prospective buyers.
There are two options to be able to sell your property. You can direct a traditional estate agent and negotiate fees directly with your agent. Alternatively, we can market your property to our database and waiting lists. We charge a 2% sales agency fee for the sales value achieved.
What is an integrated retirement community?
"Integrated Retirement Community” is a collective term bringing together the different types of specialist accommodation and facilities that are designed to support people in older age. This new term reflects the integrated approach championed by the Associated Retirement Community Operators (ARCO). Apartments, bungalows, cottages and houses are available for purchase, part purchase or rent, alongside a range of choices:
Integrated Lifestyle: Facilities like restaurants, bars, gyms, cinemas, community halls and gardens offer optional activities and social opportunities.
Integrated Well-being and Care: Personal and domestic care can be delivered within people’s homes if they wish. Dedicated staff teams are on site 24/7.
Integrated with Wider Communities: Connections with wider communities through family, friends, intergenerational, volunteering or leisure opportunities are valued and cherished.
