Only a third of retailers continue to pay rent

Only a third of retailers continue to pay rent
Brent Melville
Commercial rent payments are falling “well behind” average collection times and are at about half of normal payment cycles, said commercial property management company Re-Leased.Tardy payments are especially pronounced across the hard hit retail sector, where only about a third of tenants are paying while under covid-19 restrictions, and negotiated discounts are “significantly” higher than normal, the company said.The cloud-based commercial property management platform, which manages 70,000 properties worldwide and has about 250 commercial prop...

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