Survey Number 2 Results available and Survey Number 3 now open

We have the results in from our second Rent Default survey. Results are a lot more positive and Property Management companies are suggesting that the first survey results will not be as bad as first thought. There is a big drop in what companies believe rent arrears will eventually reach during the crisis. In our first survey, it was close to 20%. But, as Government support packages have kicked in and the initial panic of the lockdown has settled, Property Management businesses appear to be a lot more confident moving forward.

This is positive news.

Currently, of the companies who completed the survey, the results sit at 4.57% of tenants are in arrears. Companies are projecting that arrears will only reach a peak of 7%, a huge drop from our first survey.

 

A word of warning, however. Once Government support in wage subsidies runs out, we may then see a slow but steady increase in rent arrears going forward.

We will conduct the survey again as we move into Level 3.