New Survey Shows the Impact the Pandemic has had on the Rental Sector

The real estate industry has a number of struggles that have arisen from the pandemic. One, which is popping up in larger countries, is renters struggling to pay their rent every month. Whether it’s due to job loss or cut hours, those on the lower levels of the economic echelon are struggling and turning towards their own governments, landlords, and property managers for help.

Rent.com.au ran a survey that gathered 1,600 Australian respondents which gave a little bit of insight into the rent crisis within the country. 

Highlights on the survey:

• 59% of renters say they are earning less because of the pandemic
• 33% of renters have lost their jobs 
• 22% of renters say their ability to pay rent has been severely affected.

Commenting on the outcome, Rent.com.au CEO, Greg Bader, said the current renting climate is to be expected, all things considered. 

“Even though state and federal governments moved relatively quickly to support tenants, there is still a level of confusion and uncertainty in the renting market in terms of process and responsibilities.”

Because of that, those most in need are begging authorities that have the ability to help them to do something about it. 

“Short-term protections such as a moratorium on evictions, or a deferral in rent, provide some comfort, but there are concerns that this is just kicking the can down the road. We hope to see the industry and government respond in innovative ways to support renters and the industry-at-large.”