Real estates in limbo waiting for coronavirus changes
THE REAL estate industry is waiting with anticipation to find out what restrictions or plans will be in place for owners and tenants as the country navigates the coronavirus pandemic.
Principal and owner of Switch Realty Bronwyn Handley said it was a complex issue with many scenarios to consider.
“You’ve got tenants who are losing their jobs and may not be able to pay their rent. You’ve got landlords, and most landlords are mum and dad investors,” she said.
“Most of my owners also have a mortgage on their rental properties as well, so that mortgage still has to be paid.
“Then you’ve got tradies as well that need to be paid.
“If you’ve got an owner that’s out of work, then their tenant gets out of work and their tenant wants a reduction in their rent, the owner’s got to make that up.
“The government really needs to think long and hard about it, put politics aside and look at each individual situation and how it affects each person because it could end up in a real nightmare.”
The real estate owner said most agencies had already cancelled routine inspections while some are getting tenants to do a walk through via video links as precautions to help stop the spread.
She said she hoped Ipswich tenants would still be able to make ends meet.
“Average rents in Ipswich aren’t too bad. A lot of our tenants will be able to sustain their tenancy on the $1100 a fortnight,” Ms Handley said.
“We’re still renting and still getting lots of inquiry, we’ve got move ins happening tomorrow and next week.
“People are still moving around, because people still need somewhere to live.”