Rentals and COVID-19: Update

"Start where you are, use what you have, do what you can..." - Tibetan Proverb

This has been our driving philosophy throughout the ongoing quarantine period, says Glenda Taylor, Rental Principal for Greeff Christie's International Real Estate. Adaptation has been demanded of us all. Even during such uncertain times, we have been privileged to observe the solidarity fostered between our landlords and our tenants. Less than 4% of our rental payments have registered as either late or deferred, far below the industry average of 28%. The communication has been transparent and the respect has been unwavering, enabling our agents to amicably resolve these delays and minimise the anxiety felt by so many during this lockdown period. To our clients and our team of agents, as well as our admin and management staff, we salute you.

As we begin to anticipate the slow cessation of the quarantine regulations, our preparations have already begun in support of our tenants taking occupation of their new homes.

Once we have the permission from our government, our first priority will be to ensure that our leases, due to have commenced in April, will be initiated. Our compliance with government regulations will ensure that none of our clients risk contravening the legislation. Our team will continue to ensure the support of our tenants whose occupation of their new home has been delayed due to the lockdown, assures Taylor.

Whatever our new normal will be, our team is eager and ready to champion the expected demands in the evolving rentals market. As the economy adjusts to the burden of contracted growth, renting becomes an even more viable option as an income for landlords renting out their properties. For tenants, renting may also become ever more appealing as a fixed expense over a set period of time, which enables budgets to be reassessed once the economy has adapted to the changes imposed by COVID19.

No matter what lies ahead, we continue to offer transparent communication and thorough planning as our gesture of reliability to both our clients and our colleagues.