The impending mortgage crisis is affecting not only property owners with a mortgage. Tenants who have never missed a rental payment and who keep their homes in tip top shape are being given kicked out, in some cases with a little as a few hours notice.
TENANTS are being forced out of their homes at a dramatic rate, some with just two hours’ notice. Renters are becoming the innocent victims of an overcrowded rental market and the problem is expected to worsen if interest rates rise.
As more and more investors take on extra risk, the problem is only going to get worse. Landlords and their properties managers research tenants to make sure they are able to pay the rent. A time might come soon where tenants will have to research the landlord to make sure they haven’t over extended on the mortgage.
» Tossed out … and it’s not even their default – The Sydney Morning Herald, September 9th 2007.
» Short shrift for couple after landlord defaults – The Sydney Morning Herald, September 22nd 2007.
» Rent law revamp to lure investors – The Sydney Morning Herald, September 22nd 2007.