Buying to let as an investment property seems to have palled as a concept for South Africans.
Harcourts Jeffreys Bay brings us a deeper understanding:
- Buying to let as an investment property seems less attractive as a concept for South Africans. But does economic reality back up this fear?
- The TPN Rental Monitor for the last 2 year’s has shown a change in tenant payment behaviour for the first time in four years.
- During the lockdown, many tenants have gone in arrears, and it seems as if they are still battling to catch up.
- This reversal is a sudden change for landlords and property managers who have been enjoying an unusually long period of improving rental payments before lockdown.
- Most tenants are deemed in good standing compared with 75% delinquencies in the fourth quarter of 2020.