Commercial tenants paid less than a quarter of rent

Only 22 per cent of rent for the nation’s shops, offices and warehouses has been collected for the final quarter.

Rents for the last three months of the year were billed on Tuesday. Retailers paid only 13 per cent of the rent they owe for the final quarter, according to analysis by Re-Leased, a commercial property management platform — the lowest collection rate seen since the start of the crisis.

Office tenants paid 32 per cent of rent owed, which was an improvement on the 22.8 per cent paid at the June quarter payday. Industrial tenants paid 18.3 per cent of rent, up from the 16.2 per cent received in June but lower than the 23 per cent in March.

Re-Leased analysed data from more than 10,000 commercial properties and 35,000 leases.

Property companies have warned the government that its extension of a blanket ban on evicting tenants or taking recovery action to collect rent until the end of the year would result in a mass non-payment of rent.

About a third of rent owed for the March and June quarter days remains unpaid.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>