Commercial rent collection continues to recover
The latest figures from Remit Consulting’s REMark Report show that overall, an average of 78.6% of the rent due from commercial tenants was paid within 35 days of the due date at the end of the June quarter. This compares with the same point in the previous three months when 71.8% had been paid by tenants and the 63.3% recorded 12 months previously in August 2020. The retail sector also continued to show an improvement in the amount of rent being paid by tenants as 74.8% had been collected within 35 days of falling due. By comparison, the 35-day figure for the first quarter of the year was 63.3%.