The residential rental market suffered last year following the Covid-19 hard lockdown but this year may be a different story.
Jacqui Savage of the Rawson Property Group believes the market will “continue to grow at a steady pace”.
This is taking into account the fact national annual rental escalations have been “much lower” and many landlords have not increased their rents.
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“Landlords have had to take another look at their rental pricing as the rents being asked are having to come down slightly and in some cases quite a bit in order to find and secure suitable tenants.”
Tenants now also have a wider choice of properties at reduced rates, says Dogon’s Adrien Epstein.
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“Tenants in difficult economic circumstances wishing to reduce their rents are encouraged to try to negotiate with their existing landlords before finding alternate accommodation in order to minimise wasted moving costs and additional stress.”