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Tenants renting high-priced homes don't pay
Business Report says at least one-in-ten tenants paying more than R12 000 a month for property, default on rental payments. This is according to Michelle Dickens of the rental-focused credit bureau TPN.
Addressing delegates at a credit bureau conference, Dickens said that 83% of tenants paying rentals of up to R12 000 were in good standing and paid their rent on time or late but mostly paid it in full.
She says this is an important indicator for investors in the buy-to-rent sector of the property market. Dickens says that most people pay their cellphone account first, followed by their car instalment and their rental.
There are 1.6-million properties being rented in South Africa.
Read the full article on Business Report.
