The collection of commercial property rents in the UK, seven days after the September quarter due date, have reached the highest level achieved for any quarter during the pandemic so far, according to the latest research from Remit Consulting in its regular REMark Report.
The figures for collection of rent and service charges, which are verified by the country’s major property management agents, reveal that overall, an average of 72.1% of rents due from tenants of commercial property, were collected within seven days of the due date, compared to a figure of 66.5%, collected at the same point in the previous quarter.
According to Remit Consulting, both the retail and leisure sectors showed significant improvements compared to previous quarters of the pandemic.
Steph Yates of Remit Consulting noted that although signs are promising, overall collection rates for both rents and service charge payments are ‘still significantly lower’ than recorded by the REMark Report over the ten years prior to Covid-19.
