Renters are putting up with mould, bad smells and even being forced to share a room in a bid to secure a rental property according to a new survey.
The ongoing rental crisis has seen a huge increase in demand for rental accommodation and tenants are being forced to turn a blind eye to a host of flaws just to secure a property.
A Finder survey found that 59 per cent of renters have excused an issue with a property for fear of missing out on a place to live.
The research found 21 per cent have been willing to accept a property that wasn’t the right size, while 14 per cent have tolerated a lack of amenities such as aircon or a laundry.
However, 10 per cent of renters were prepared to accept a mould issue in a bid to get a rental.
While 6 per cent said they were even prepared to put up with unpleasant smells.
Finder Home Loans expert Richard Whitten said the number of renters living in substandard conditions is frightening.
“Tenants are having to lower their standards and accept some really unpleasant living situations,” Mr Whitten said.
“Thousands are stuck in rentals which would be considered hazardous purely because there aren’t enough properties available to rent in their area.”
The survey also found that 9 per cent of renters were hesitant to speak to their landlord about fixing up their property, when they noticed damage that wasn’t on the entry condition report.
Loud neighbours (11 per cent) and a high crime rate (8 per cent) were other property flaws that tenants had to turn a blind eye to, in order to secure a home.
Mr Whitten said while the numbers are alarming, the rental crisis is slowly showing positive signs of easing.
“The situation might be improving for tenants as vacancy rates start to stabilise or even rise in some areas of the country,” he said.
“But listings are still well below pre-pandemic levels.”
According to CoreLogic, national vacancy rates eased slightly over the quarter from 1.1 per cent in March to 1.2 per cent in June, but were still well below the pre-pandemic average (3.3 per cent).
The rental crisis is seeing rent rise sharply, with the median rent across the country, up 9.7 per cent over the past 12 months to $589.
The capital cities with the largest increase across all dwellings are Perth (up 13.4 per cent) and Sydney (up 12.9 per cent).
Sydney unit rents have experienced the biggest surge in rents, increasing 18.8 per cent in the past 12 months.
Mr Whitten said renters need to make sure they’ve got enough cash saved up to get themselves through the tough conditions that we’re experiencing at the moment.
“Setting up a budget to track your expenses will allow you to see where your money is going and where you might be able to cut back on in order to save,” he said.
“Having some wiggle room will alleviate the stress and financial burden of finding a suitable property for your needs.”
