No tenant, no rent ... why tenants have the upper hand right now!

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The TPN Vacancy Survey recorded a national vacancy rate of 8.97% for the fourth quarter of 2019. 

This rate reflects slightly lower than the 9.42% recorded in 2019 Q3 - which remains the highest vacancy rate on record. 

This period’s marginal decrease in the vacancy rate is considered as a slight relief for landlords who are facing stiff competition amongst themselves. 

However, it shouldn’t be ignored that the current 8.97% remains high when compared to the 8.10% vacancy rate as reported for the prior comparative period. Read the 2019 Q4 Vacancy Report here.