Landlords lurch as rentals fizzle
An oversupply of stock has put property rentals under pressure. It’s bad news for buy-to-let investors, but a welcome reprieve for cash-strapped tenants
Buy-to-let owners who still expect to push through rental increases of the usual 8%-10% when leases come up for renewal this year are in for a rude shock.
Most SA cities have an oversupply of properties to let, which means tenants can pick and choose, often at discounted rates. It’s good news for those looking to rent, but less so for landlords, who will have to become more flexible when it comes to price negotiations.