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South Africa’s best tenants pay R7,000 to R12,000

54 4th Street - HoughtonTenants whose monthly rentals are between R7,000 to R12,000 remain the best payers, with those in the bottom and top price categories the worst.

This is according to TPN Rental Monitor for Q3 2016 which reports that 88.37% of tenants in the R7,000 to R12,000 rental category are in good standing and, more importantly, 73.52% paid on time.

“Payment performance weakened at both the top and bottom ends of the market,” said Michelle Dickens, MD of TPN, noting that 79% of the tenant population rent for below R7,000 per month, with 55% of these tenants renting in the R3,000 to R7,000 band per month. “Rental payment performance in the below R3,000 per month category has deteriorated conspicuously with 11.52% of tenants not paying rent in Q3 and only 57.70% paying on time.

“Although tenants in the exclusive property rental bracket also remain a challenge with only 53.27% paying on time, an even bigger problem is represented by the 14.67% in this category who only make partial payments.”


260117 TPN Rental Monitor Graphs-8

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260117 TPN Rental Monitor Graphs-3

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Top photo: This four-bedroom cluster house is available to rent in Houghton Estate for R60,000 per month. Click here for more

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david.steynberg@gmail.com

David A Steynberg, managing editor and director of HomeTimes, has more than 10 years of experience as both a journalist and editor, having headed up Business Day’s HomeFront supplement, SAPOA’s range of four printed titles, digimags Asset in Africa and the South African Planning Institute’s official title, Planning Africa, as well as B2B titles, Building Africa and Water, Sewage & Effluent magazines. He began his career at Farmer’s Weekly magazine before moving on to People Magazine where he was awarded two Excellence Awards for Best Real Life feature as well as Writer of the Year runner-up. He is also a past fellow of the International Women’s Media Foundation.

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