Re-Leased, a property management software company have produced an interesting COVID-19 Rent Collection Impact Report for April 2020, based on over 800 property portfolio within New Zealand. The report has highlighted some expected risk and exposure factors which have occurred within various property sectors (Retail, Office and Industrial) as a result of the Level 4 lockdown which commenced on 25th March 2020 for 4 weeks.
- As of 6th April 2020, monthly retail payments were at 34.4% compared to the average 85.6%
- Increase of 430% in credit notes applied to monthly rentals (rent holidays/rental adjustments etc)
COVID-19 Rent Collection Impact Report – Retail Sector
COVID-19 Rent Collection Impact Report – Industrial Sector