Coronavirus | 1 in 5 residential tenants cannot pay rent, survey shows

A new survey by landlord-tenant matching platform FlowFindings among 80 000 residential tenants on their database in South Africa, found that, due to the impact of the coronavirus pandemic, only 37% can afford to pay their rent in full in May, while 22% said they cannot pay their rent at all.

He expects that, going forward, more people will be looking at renting than buying, due to affordability concerns against the backdrop of the impact of the pandemic on the economy. "Annual rental escalations are stagnant and we're looking at a possible reversion of rental amounts," said Just Property CEO Paul Stevens."It's not only the middle class being affected – it's hitting everywhere."Trafalgar Property Management MD Andrew Schaefer pointed out that the rental market was already under pressure before lockdown, and circumstances have since deteriorated.

It seems individual landlords were more accommodating about waiving or reducing rental payments compared to 24% of landlords who are companies and trusts being willing to do doing the same.

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