It won’t come as a major surprise that COVID-19 has had a major impact on Australia’s property management industry. The extent of this impact has been far-reaching and serious, as the results of rent.com.au‘s COVID-19 property management impact survey reveals.
Rent.com.au surveyed property managers in Australia to understand how the industry has been affected by COVID-19 and how businesses have adapted.
With extreme financial pressures affecting tenants ability to pay the rent, as well as a great deal of confusion over the ability for tenants to stop paying rent due to hardship, property managers have started to see an influx of contact from tenants experiencing difficulties. In fact, 77% of respondents indicated an increase in tenants defaulting on rental payments.
Australia’s property management industry has been forced to consider alternative measures to facilitate routine inspections, with social distancing and staff health now a major consideration.
Agents said tenant-driven routine inspections now accounted for 83% of all activity, with just 18% of inspections conducted through an app.
Embed This Image On Your Site (copy code below):