Almost half of all tenants who pay R3,000/month are bad payers
This is according to TPN’s Rental Monitor for Q2 2017 in which it reveals that the R3,000/month rental category has weakened the most noticeably to date, and in Q2 2017 moved lower to 53.85%, from 55.5% in the previous quarter.
“This percentage represents a 12.15 percentage point drop from a 66% multi-year high recorded in Q2 2014, and is the most significant decline of any tenant payment value group in recent years,” the report noted. “The R3,000 to R7,0000/month rental payment group also saw a slight quarterly decline from 68.25% in Q1 2017 to 68.12% in Q2, and is also now significantly down from a 75.87% high back late in 2012.”
#1 R7,000 to R12,000/month – 74.11% from 73.47% in Q1 2017
#2 R12,000 to R25,000/month – 67.93% from 66.86% in Q1 2017
#3 R25,000+/month – 59.26% from 57.59% in Q1 2017