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Even with the tough economic times, high unemployment, and a bit of a political mess, a lot of tenants have still been managing to pay their rent. This has been a bit of a relief for property investors who rely on that steady income to balance out rising costs. But keeping tenants on track hasn’t been a walk in the park. Investors have had to get stricter with vetting and chasing down payments to keep their cash flow steady, especially with maintenance, security, and other costs creeping up.
These shifts show that even in the high-demand areas, landlords are having to be more careful with rent hikes to match what tenants can actually afford. KwaZulu-Natal saw a small bump in rental growth, up from 4.86% in Q1 to 4.97% in Q2. However, high vacancy rates there are still putting pressure on investors, who need to stay on top of rental collections to keep cash flow steady. Meanwhile, the Eastern Cape saw some growth too, with rents going up from 4.16% in Q4 2023 to 4.7% by Q2 2024.
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