Agents predict that tenants are about to enter a new era of financial suffering as a shortage of properties sends rents skyrocketing.
Joe, a representative from the National Association of Property Agents, has warned that the situation is only going to get worse. “We’re seeing an increasing number of tenants competing for a decreasing number of rental properties, which is naturally driving up the prices,” he informed us, somehow managing to keep a straight face.
Gina, a local property manager, was less optimistic: “Frankly, it’s going to be a disaster. We’re looking at rent increases of up to 30% over the next year, and that’s just the start. People are going to have to start living in their cars and camping out in parks because they simply can’t afford to rent anywhere.”
Meanwhile, renters are despairing at the prospect of having to fork out ever-increasing sums each month. “I’m already paying half my salary in rent, and that’s for a tiny studio apartment with a shared bathroom,” sighed David, one such tenant. “I don’t know where I’m going to find the money for the inevitable rent hikes.”
It seems that the rental market crisis is only just beginning, and Joe advises tenants to brace themselves for the worst. “We suggest that you form a rent-pooling union, grow your own vegetables on the roof, and consider squatting in abandoned buildings. It’s going to be a bumpy ride.”
