Regional View Total % rent reconciled (as of day 4, end of 28 June) |
Mar Qtr 2020, @day 4 |
Jun Qtr 2020, @day 4 |
UK Average* |
38% |
38% |
London (inside M25) Average* |
33% |
36% |
North West Average* |
31% |
30% |
West Midlands Average* |
40% |
41% |
Re-Leased’s CEO Tom Wallace said “It’s promising to see that London’s rent collection curve is trending upwards when compared to the same day in the March quarter. This is a sign of the capital’s resilience, and our latest data should provide some reassurance to landlords with diverse portfolios that include assets in London.
Likewise, as the first week of the quarter has progressed, there are some new positive signals for the UK-wide picture. By day 4, June is tracking like-for-like with March with 38% of rent due paid. This demonstrates that since the due date on 24th, the rate of collection has improved.”
Tom Wallace said “There is of course regional variations across the country. The West Midlands for example is currently outperforming the UK average by +3%. While the London region is marginally behind the UK average, it’s encouraging to see collection is +3% on the last quarter. The North West is tracking at -8% on the UK average, however it’s only -1% behind its March comparison and so on par with previous quarter’s performance at this stage in the rent cycle.”
About Re-Leased
Founded in 2013, Re-Leased is a modern cloud-based, commercial property management platform which centralises portfolio data, automates workflows, and provides live visibility for landlords, property managers, tenants, and accountants.
Re-Leased now manages over 70,000 properties worldwide, including 35,000 commercial leases in the UK.
Re-Leased allows commercial property landlords to manage their entire portfolio via the platform’s dashboards, providing greater control and visibility over business processes including invoicing and arrears management, lease events, document storage, building maintenance and reporting.
Re-Leased won Xero's Industry Specific App of the Year 2020, and has offices in London, Birmingham, New York, Melbourne, Auckland and Hawke's Bay.