Christies Beach 
DESPERATE RENTERS SEEK ALTERNATIVE ACCOMMODATION.
If you’re in the market for a rental property, you’ll soon discover, if you haven’t already done so, that the number of available properties has diminished substantially.
We’re finding rental applications are coming in thick and fast, in fact, faster than we feel we can process them. This is more the case for properties in the lower price bracket. Anything below $350 will receive up to around 30 applicants within the first few days of going online. By the end of the week, we might expect to see around 50 applications.
This in effect, means that those in the community who are desperate might need to seek alternative accommodation. This might include Air BnB, caravan parks, couch surfing and share accommodation.
We’re finding a lot of our tenants are not moving, which is why we have a shortage of stock. This then leaves us asking the question; if people are not moving, where are all the applications coming from?
Some people are suggesting that it could be people coming from interstate. Well, maybe not this week but prior to the second Covid wave hitting SA. Of course, there will always be a portion of the applicants coming from interstate, but we’re not seeing it being anything out of the norm. What seems to be more evident is that people are applying for multiple properties and they will ONLY move IF they get accepted for something, otherwise, they won’t risk breaking lease or not renewing their lease in case they can’t find something else.
The problem is, is that if everyone is applying for everything then the competition increases. It also means that it takes much longer to process applications because there are so many more to go through. So perhaps, some of the people who appear to be wanting to ‘stay-put’, would actually prefer to move, and will do so, if they are fortunate enough to be accepted for something.
The next question is, with the government offering so much support for the Covid pandemic, the majority of people can’t all be wanting to move due to Covid related financial strain. Of course, again, there would certainly be a percentage of people who fall into this category, but that doesn’t seem to account for the numbers we’re seeing.
Another, perhaps more simple suggestion, is what if people just need a change? Maybe the pandemic has had an effect on their stress levels, their relationship, or perhaps they have grown tired of looking at the same four walls. More people are having to work from home, some may have come to the realisation that they now need a study, rather than using the dining room table.
We are also seeing more landlords sell their investment properties, so of course, if they sell it to an owner occupier, that is cause for a tenant to move, adding to the pool of applications.
We must take into consideration that, every year we do find, the closer we get to Christmas, the more people seem to move. We always find this trend surprising, just as we’re getting ready to close for the end of year festivities, we have an influx of properties becoming vacant.
So, what can house hunters do? Depending on your situation and how desperate you are, you may need to just hang tight until things calm down. Or some of you who are desperate, might need to consider some of the alternative options mentioned above. Hopefully, for those of you who are eager to secure a property sooner rather than later, you will see more properties become available as the new year approaches.
If you wish to speak to one of our Professional staff members, feel free to give us a call on 08 8382 3773.
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Shortage of Rental Accommodation
17/11/2020
Article posted by Professionals Christies Beach
