Commercial Real Estate Live Data
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The Re-Leased platform captures live rental collection data directly from over 21,000 properties and 40,000 unique tenancies from across the country. This report does not rely on surveys or secondary collections. The report looks at the Australian picture and also provides segmented analysis across major property asset classes (Office, Industrial and Retail) and their debt collection performance.
Wherever the term ‘Baseline’ is used in the report, it refers to an aggregation and average of rental collection rates for invoices due on the first of each month between April 2018 to February 2020 (AUS and NZ).
ASSET CLASS BREAKDOWN
Written analysis is based from a data snapshot of the 20th of April
Retail Rent Collection
Five days past the due date, landlords collected 37.9% of their rent for April, compared to the baseline of 65.2%. Pointing to a trend that tenants who typically pay before the due date have generally continued to do so through the COVID-19 period.
Retail Payment Collection Time Period
(Data refreshed as of the 20th April)
Payment Days
These graphs are dynamic and may shift as property managers and landlords collect rent and apply credit in real time. As a result, there may be slight deviations between what you see on the graph and what appears in our analysis.
Office Rent Collection
Remote working capabilities available to this sector has meant these tenants are in a better position to meet their rental obligations. On the 1st of April 2020, collection sat at 48.4% of invoiced rent. In comparison, the average of the last two years is 54.3%.
On the 20th of the month, Office assets had collected 71.2% of rent compared to a historical average of 90.8%.
Office Payment Collection Time Period
(Data refreshed as of the 20th April)
Payment Days
These graphs are dynamic and may shift as property managers and landlords collect rent and apply credit in real time. As a result, there may be slight deviations between what you see on the graph and what appears in our analysis.
Rent free periods and subsidies
By the 1st of April, the credit note allocation percentage was 1.9x the average percentage of credits that were awarded in the prior two years. By the 20th of April, this number accelerated to a like-for-like increase of 3.0x in credits awarded (4.4%). These allocations only take place when a landlord or agent has agreed to the level of relief that will be provided to the tenant. It is indicative of an environment where property owners are aware of the challenges faced by tenants.
The summary:
Numerous landlords and property agents have reported anecdotally that their staff are inundated with tenants requests, ranging from rent holidays to deferments or subsidies. These claims have been substantiated by operational practices. Credit note allocations are commonly used to waive either a partial figure or full amount of a rent invoice.
Rent free periods and subsidies
(Data refreshed as of the 20th April)
Payment Days
These graphs are dynamic and may shift as property managers and landlords collect rent and apply credit in real time. As a result, there may be slight deviations between what you see on the graph and what appears in our analysis.
Data breakdown | Rent Collected Snapshot
Analysis is based from a data snapshot of the 20th of April
| Rent Received | April 1 | Baseline | April 2 | Baseline | April 6 | Baseline | April 13th | Baseline | April 20th | Baseline |
| Overall | 35.4% | 39.1% | 46.2% | 52.6% | 54.1% | 72.2% | 59.2% | 82.1% | 63.9% | 87.2% |
| Retail | 27.9% | 34.6% | 32.5% | 47.1% | 37.9% | 65.2% | 41.3% | 74.3% | 50.1% | 83.7% |
| Office | 48.4% | 54.3% | 59.5% | 64.4% | 65.4% | 81.1% | 70.2% | 89.2% | 71.2% | 90.8% |
| Industrial | 31.5% | 27.4% | 49% | 49% | 59.8% | 75.2% | 65.9% | 86.6% | 69.7% | 90.9% |
| Credit Notes | 2.03% | 1.09% | 2.32% | 1.17% | 3.51% | 1.27% | 4.1% | 1.4% | 4.37% | 1.48% |
