Nearly 1 in 5 tenants behind in rentals – PayProp Rental Index

GUEST – Grant Smee, MD of Only Realty Property Group <br /> <br /> Some 18.4% of residential tenants in SA are in arrears on their rent, a figure that is somewhat improved from the nearly 25% recorded at the height of the Covid pandemic. <br /> <br /> An analysis by PayProp Rental Index for the second quarter of the year suggests the latest figure is “within the normal range seen before and after the Covid-19 pandemic, but it could be a cause for concern if it continues to rise”. Using another metric, the news is slightly better: the quantum of arrears as a percentage of rent fell 1.2% quarter on quarter to 77.1%. <br /> <br /> Stats like these cannot be comforting for those planning on building a property investment portfolio when nearly one-in-five are behind on their monthly rentals. <a href="http://www.kayafm.co.za/">Kaya FM </a>