CREDIA, a new online resource of commercial property leasing indicators from Re-Leased, has published Australian rental collection data for July which shows payment rates continue to improve.
Throughout the month of July, 74 per cent of commercial rent was received by landlords within 30 days, compared to 71 per cent in June.
The pre-COVID monthly average was 89 per cent.ย ย
Of the commercial property asset classes, Industrial recorded 80 per cent of rent paid in July, followed by Office (79 per cent) and Retail (64 per cent).
Nationally, South Australian landlords received the highest volume of payments (78 per cent) followed by those in Victoria (76 per cent), NSW (75 per cent) and Queensland (74 per cent).ย
Reflecting the upward trend in rental payments, landlords discounted less rent in the form of Credit Notes in July (3.2 per cent) than in June (8.2 per cent), though this remains well above pre-COVID levels (1.6 per cent).ย
CREDIA uses anonymised and aggregated data directly from over 20,000 commercial leases in Australia managed on Re-Leasedโs cloud-based commercial property management platform.