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Depending on your financial situation and preferred style of living, there are many advantages to renting: 1  Renting a home can be cheaper than buying a home. 2  You have more flexibility when you rent. 3  Your landlord, not you, is responsible for performing nearly all maintenance and repair work on the property.
Of the one in four retirees who rents their home, almost half of them (42%) were previously property owners. Their main reasons for selling up were to pay off debts, finance divorces, boost retirement income or help their children. However, for people choosing to rent in retirement, there are many benefits.part from in Scotland, where it is illegal to charge tenants any fees to rent a property, you may have to pay: 1  Application/referencing fees (up to several hundred pounds). 2  Deposit (normally four to six weeks' rent). 3  Inventory (from Â£50 to Â£150). 4  Renewal fees (from Â£25).