Rent collection for commercial landlords fell in the first quarter of 2023 for the first time in two years, according to new figures from Remit Consulting.
Real estate owners collected 63% of second-quarter rent due by late March, down from 67-69% during the previous three quarters.
The most significant drop came from retailers.
Elijah Lewis, research consultant at Remit Consulting, described the “reversal” as “concerning”, noting that payments “have been heading back towards pre-Covid levels until now”.
Financial Times (£)
