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UK rent collection rises to 50%, up from 22% a week ago

Re-Leased, the cloud-based commercial property management platform has published its latest figures for the September rent quarter, which analyse rent collection one week after commercial rents were due on 29 September. 

They reveal that, by 6 October, commercial tenants in the UK had paid 50% of rent, up from 22% a week ago. Retail properties have seen a strong rebound, with rent collection jumping from 12.7% to a steady 51%, a promising +11% uplift on the same point in the rent cycle for the June quarter. 

Tom Wallace, Re-Leased’s CEO, said: “It’s encouraging to see landlords have collected half of the rent owed just a week into the final quarter of the year. If the rate of collection continues on this trajectory, landlords should expect to meet, or possibly just surpass, the volumes that came in for the June Quarter. This initial strong rent collection curve at day 7 should provide landlords with some comfort; however, it won’t mitigate the substantial volume of unpaid rent that has been accruing since March.”

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