n. A retired person who rents a room or property.
In April 2015, new government rules will also allow UK pensioners to cash in their whole pot for a lump sum, which experts predict will spark a wave of "grandlords" investing in buy-to-let property for additional income.
Seemingly not the chancellor, with his pension reforms expected to unleash a whole new wave of "granlords" — or newly retired people pouring their lump sums into property.
Research has revealed hard up pensioners with spare rooms — dubbed 'Granlords' — are set to cash in by renting out spare rooms to lodgers.
Some of these "grandlords" have become buy-to-let investors by accident, owing to a more difficult financial climate than they had expected, Belvoir said. They had expected to sell their properties to finance their retirement, but with rents rising and property prices falling in many areas they had judged it more sensible to keep their property and rent it out.