The company added that its analysis for the March quarter revealed that 67% of commercial rent had been paid 60 days after the deadline. This compared with a figure of 84% for the December 2019 quarter.
Tom Wallace, Re-Leased’s chief executive said: “Looking at the level of rent that was collected on due date is sobering, but initial signs are not as catastrophic as some were forecasting. We expect rent collection to steadily increase over the coming weeks, but it is unlikely to reach the level that we saw in March.”
The British Property Federation yesterday urged any business in financial distress on the second rent quarter day of 2020 to speak to their landlord as soon as possible.
