Re-Leased, the cloud-based commercial property management platform, has published its latest figures for the December Rent Quarter. These new figures analyse rent collection 14 days after commercial rents were due on 25 December 2020 and provide an indication for the remainder of the quarter. 

The data reveals that by 8 January 2020, landlords had received 55% of all commercial rents due. The figure is identical to the same point in the rent collection cycle for the previous quarter in September, however taking a year-on-year view, it represents an overall decline of -9%. 

Tom Wallace, Re-Leased’s CEO, said: “Rent collection at day 14 remains steady when compared to the three previous quarters, and is on par with the same point in September quarter cycle. While the figures are still some way off their pre-Covid levels a year ago, it is encouraging to see that despite Tier 4 restrictions in many parts of the country and a subsequent lockdown, the rent collection curve has continued on a similar trajectory.

“However, this marks the fourth consecutive quarter where landlords have received just over half of rents due. The accumulative impact of this growing shortfall should not be underestimated. With billions of pounds in missing rent, and further restrictions to navigate, many landlords will be under serious financial pressure, especially those with retail assets in their portfolio.”