Despite high interest rates and inflation, South African tenants are in a better financial position than at the end of 2022 – great news for rental agents and landlords who rely on timely rent payments.
Despite a tough economy and constrained household budgets, more tenants are paying their rent for the third consecutive quarter, and the number of tenants in good standing has continued to improve. That said, while tenants are willing to navigate rental escalations for now, there is clearly a fine balance between residential rental vacancies and the ability of property investors to ask for higher rentals.