Legal & General has launched a later living rental offer through its Inspired Villages business.
It will offer a fixed rate starting at a £850 a month, which includes service charges, at its communities in Warwickshire, Cheshire, West Sussex (pictured) and Exeter.
The contracts will last three years on a renewable basis.
Renters will have access to all Inspired Villages facilities, including the Clubhouse with a wellness suite, swimming pool, gym, pilates studio, treatment rooms and a hairdresser, with additional retail, restaurant and leisure facilities.
The company has an ambitious expansion programme to deliver 50 later-living communities in the next five to 10 years, targeting the over-65s market.
James Cobb, sales and marketing director at Inspired Villages, said it would allow people without families to release capital by selling their homes and moving to rental. He said it also appealed to renters who have never owned, as well as those looking to”‘try before you buy”.
Cobb said: “We want more people to embrace the lifestyle that is on offer at our retirement villages, with all of its positive health and wellbeing benefits, and providing a rental option enables more people to choose us.”
Phil Bayliss, chief executive of later living at Legal & General Capital, said: “The introduction of the rental offer at Inspired Villages will widen our target market and increase the velocity of occupation, enabling more people to downsize to a more manageable-sized property, release capital, save on bills and enjoy the benefits that an Inspired Village offers.”
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