Did 3 billion rand rental relief rescue the commercial property sector?

Landlords gave a whopping 3 billion rand in rent relief during April to June 2020, significantly reducing the number of tenants who were more than 3 months in arrears with their rent. Fast-forward nine months, three billion rand swallowed up, and arrears continue to grow.

Managing tenant arrears is an ongoing strategy. With the length of tenant delinquency being significant, landlords will be focused on the 13.5% of delinquent tenants who are now more than 6 months in arrears.

Overall, tenants more than two months in arrears have increased from 54.5% to 63.6%; less risky are the 26.4% of delinquent tenants who are less than a month in arrears. This key metric will be important to follow in the coming months to confirm that partial paid tenants are paying down arrears. 

Please click here to read the Commercial Rental Monitor for Q1 2021

Growthpoint Properties and operating in a resilient country and sector

In the midst of the biggest storm the real estate market has ever weathered, COO of Growthpoint Properties, Engelbert Binedell sat down with Michelle Dickens to share their extensive experience in the sector through economic storms, recessions and a pandemic.

The conversation highlights the importance of collaboration, which has allowed for innovative and sustainable property solutions in a time when we are essentially operating in a vacuum.

As leaders in the industry, Michelle and Engelbert uncover the importance of company culture which is fostered in the workplace - where collaboration, creativity and connection between people takes place. They touch on the management of security risks and how to mitigate them as a business to ensure data integrity and most importantly, share their joint insights and learnings from the last 12 months.

Watch the interview here:

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