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The c-word used to describe rental markets' record low vacancy rates

As vacancy rates around the country hit record lows, the situation has been described as a crisis that is forcing people into homelessness, driving up rent payment defaults and prompting emergency meetings across the state and federal levels of government.

Concerned worried young married couple sitting on sofa at home office studying paper letters from bank informing about debt.
Australia’s rental vacancy rate is at the lowest point on record at 1 per cent.

It’s been variously described as a crisis, disaster and root cause of homelessness, but however it is labelled the rental situation in Australia has become dire for many trying to put a roof over their head.

And while investors may be reaping the benefits, or at least offsetting some of their rising mortgage costs

, landlords are also feeling the pain as rent arrears begin to pile up from those unable to pay.

New data released by FLK IT OVER, a …