Majority of Australian tenants are living in rental stress

The vast majority of Australian tenants say they are paying more than a third of their weekly income in rent, a new RENT.COM.AUsurvey has found. The RENT.COM.AU Rental Affordability Survey of more than 2000 renters across Australia in April revealed that 53 per cent of tenants reported spending one-third to a half of their weekly income on rent. Rental stress occurs when a person pays more than a third of their income on rent. More worrying is that, according to the survey, 30 per cent of tenants are experiencing extreme rental stress by paying more than half of their weekly income on rent. Some tenants (23 per cent) said they had previously been late in paying rent due to financial strain.

Ceo Greg Bader Source: rent.com.au

Michelle Chen interviewed Ceo from rent.com.au about this new survey.