Worsening economic conditions impact on rental payments

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There is now no doubt that the economic conditions have deteriorated to a point where we can expect an increasingly risky time ahead for the rental industry. The pointers are clear:

  • Non-, partial and late payment trends are all up according to the latest TPN Rental Monitor (ww.tpn.co.za)
  • Tenants in good standing are down 2.8%
  • New car sales are at an 8-year low and there has been a 20% increase in people that have fallen behind with their vehicle finance paymewnts.
  • The economy is shrinking in real terms and people are loosing their work
  • Interest rates will probably continue to climb for a while still

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