Property firm reports record quarter-end in rent collections

Property management specialists at Harris Lamb have recorded its strongest quarter-end in relation to rent collection since the beginning of the Covid-19 pandemic.

The division says its March 21 collection figures were over 10% higher than the national average.

More than 82% of rents the department was tasked with collecting were collected within two weeks; a significant improvement on the same time in 2020, where collection was 20% lower.

The business reported a 60.1% success rate in collecting rents by the due date; a significant increase on the national average of 46.4% across the sector.

Rob Kennedy, head of client accounting, said: “In spite of some of the more alarmist news reports in recent months, Harris Lamb is seeing a definite uptick in rent collection performance across its mixed-sector portfolio.

“The collection statistics, in what continue to be extremely challenging circumstances, represent a fantastic result for the team on behalf of its clients, and are a testament to the business’ strong focus on client and tenant relationships. While our collection record has been consistently strong and above the national average throughout the pandemic, this quarter has been our best yet.

“With businesses across the country gradually opening back up – with this week having been a major landmark on the restriction-easing roadmap – we are hopeful that those statistics continue to show an upward trajectory as we work toward ‘normal’ circumstances.”