Nearly 60% of Australian renters adversely affected by COVID-19

“The majority of renters in Australia are finding it harder to pay the rent due to COVID-19, a survey conducted by Australia’s leading rental property website, has revealed.

Almost two-thirds say they would like more support and information from Government, property managers and property owners.

Around the world, communities are impacted by COVID-19 differently. In this recent renters survey, 1,600 Australian respondents gave an insight into the direct impact of the pandemic on their rental affordability, the response to the crisis by the industry, and their plans and sentiments for the future.

Rental affordability under stress

While 59% of renters indicated they are earning less as an impact of the pandemic, 33% have stopped working completely and 22% indicated that their ability to pay the rent has been severely affected. Chief Executive Officer, Greg Bader, said. “We know the necessary shutdowns have been devastating for many businesses, particularly those in hospitality, tourism and retail. These are also the sort of industries that typically over-index with younger staff, the largest cohort of the renting community.

More communication from property managers and landlords needed

Two-thirds of renters said they don’t feel confident asking their property manager or landlord for help, and only 32% said their property manager or landlord was helpful and informative during the crisis.

“We would encourage property managers and owners to check in with their tenants, “ Mr Bader said. “Open and honest communication is the key and can only be an advantage for all parties as we prepare for the months ahead.”

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