Tough times continue for the property rental market This article first appeared in our Property360 digital magazine
Good tenants are still hard to find. In fact, it’s so difficult that many rental agents are even reducing their commission to have the best chance of luring those still in the market.
The battle with rental arrears is also high on the list of challenges, reveals PayProp’s 2021 State of the Rental Industry survey.
Johette Smuts, head of data analytics at PayProp, says the drop in availability of “good tenants” is linked to the fact that many South Africans are suffering financial strain due to the pandemic, while others have taken advantage of low-interest rates to purchase property.
Home rental vacancies have stabilised and remain high in Gauteng
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Western Cape rental vacancies hit double digits
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