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

August 23, 2020
Share this Post: 

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.”

August 23, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Rightmove Opt 1
Rightmove Appoints Former Just Eat MD, Matthew Bushby as Its New CMO

British market leader Rightmove has announced the appointment of Matthew Bushby as its new Chief Marketing Officer. Bushby joins the...

Read More
Shutterstock 603344765
Casai Merges with Fellow LatAm Short Term Rentals Specialist Nomah After Job Losses

The Mexican short-term rentals marketplace operator Casai has merged with its Brazilian counterpart Nomah. Existing investors including a16z and Monashees...

Read More
Shutterstock 147091049
REA India Sidesteps Agents with Country's First User Subscription Service - 'Housing Premium'

The REA India-owned real estate portal Housing.com has announced the launch of a new user subscription service that aims to...

Read More
Boligportal
North Media Posts Q2 Financial Results—BoligPortal on Track

North Media, the media group and operator of Danish Portal BoligPortal, released its Q2 2022 financial report, with results "as...

Read More

Editor's Pick