Rent collection up in December
Rent collection from retailers in the December quarter showed a 4% year-on-year increase, according to property management firm Lee Baron.
Lee Baron, which manages more than 1,000 shops for institutional and private landlords, achieved over 91% on seven-day collections and more than 93% on 14-day collections.
Head of property management Ian Jones, says: "These figures demonstrate the importance of having robust credit control system and effective property managers in place, to minimise arrears and maximise cash flow. This coming year is likely to be extremely challenging for landlords with retail portfolios and failure to put the right practices in place could prove exceptionally costly."