Post to Facebook on 26/3/2020 10:43 AM
Commenting on “Not all parts of the housing market are slowing”
https://www.theage.com.au/national/victoria/as-clare-discovered-not-all-parts-of-the-housing-market-are-slowing-20200325-p54drc.html
Commenting on “Not all parts of the housing market are slowing”
https://www.theage.com.au/national/victoria/as-clare-discovered-not-all-parts-of-the-housing-market-are-slowing-20200325-p54drc.html
Having a tenant to take occupation is a great feeling, but that feeling can eventually turn sour if the tenant cannot catch up with rental payment in subsequent weeks or months.
With self-isolation or setting up home office as the reason to rent a property, I am very hesitant to pop the Champagne bottle for celebration. Many people are likely to be unemployed including those in the middle management.
If forecast by some economic experts is correct, the unemployment rate may jump to 10 to 12%, or 2 million in hard number. Sadly, employment history is not iron-clad guarantee that the tenant can fulfill future rental payment commitment.
I have warned many times that your investment property must produce positive return as soon as possible. This is a testing time for many tenants, and therefore the flow on effect will apply to the landlords.
Thank you for reading.
With self-isolation or setting up home office as the reason to rent a property, I am very hesitant to pop the Champagne bottle for celebration. Many people are likely to be unemployed including those in the middle management.
If forecast by some economic experts is correct, the unemployment rate may jump to 10 to 12%, or 2 million in hard number. Sadly, employment history is not iron-clad guarantee that the tenant can fulfill future rental payment commitment.
I have warned many times that your investment property must produce positive return as soon as possible. This is a testing time for many tenants, and therefore the flow on effect will apply to the landlords.
Thank you for reading.
