THE percentage of residential tenants in good standing has improved to 81,4 percent in the fourth quarter of 2021 compared to a lockdown low of about 62,43 percent in the second quarter of 2020.
This is according to credit bureau TPN’s latest Residential Rental Monitor.
Tenants in good standing are those whose accounts have been settled in full by the end of the month, including any arrears.
The best performing rental segment was the one between R7 000 to R12 000 per month, which had 87,29 percent of tenants in good standing. This rental band also delivered the lowest “did not pay” number at just 4,2 percent.
Tenants paying a monthly rental of between R12 000 and R25 000 were the second best performing price band, with 86,10 percent in good standing and only 4,71 percent falling into the “did not pay” category. This sector of the rental market had the lowest vacancy rate of all rental bands at just 10,23 percent. fin24.com