September Quarter Rent Collection Surpasses Expectations
Thursday 12 November 2020
Flude Property Consultants have always prided ourselves on the close relationships forged between Property Managers, Tenants and Landlords. The last 3 quarter days have been difficult for tenant and landlord alike but we are very pleased to be able to report rent collection for the September quarter surpassed our expectations with 43% of tenants paying on or before quarter day, increasing to over 79% in the weeks that followed.
We have worked closely with our tenants and landlords over the last few months to agree payments plans, concessions and deferment of rents where circumstances allow in order to assist our tenants cash flow so they can continue to trade and plan ahead. This is balanced with the need to ensure our landlords maintain a level of rental income to assist them with bank loans and any mortgages they may have over commercial property, the vast majority of whom have not received Government grants or assistance.
The recent announcement of a vaccine is welcomed news and we are hopeful that this will ensure that further Government restrictions on tenants businesses will no longer be deemed necessary so that our tenants can get back to normal and successful trade.
