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Friday | January 22 | 2021

Bucharest: More than 90% of tenants paid their rent on time

Most tenants complied with their contractual obligations to owners of the office buildings managed by Colliers International between July and September, even though many companies operated in a hybrid system, combining remote activity with office presence.

Thus, the share of tenants who paid their debts on time was 91% in the third quarter of this year, compared to 87% in the same period in 2019.

In the third quarter of the ”pandemic year”, tenants in class A office buildings also confirm the good intentions and practices in relation to the obligations they have assumed.

In September, for example, 88% of tenants paid their obligations on time to office building owners, compared to 81% in September 2019, when business activities were not hit by the crisis caused by the COVID-19 pandemic.

Even though they have been the most affected lately, more than a third (76%) of retail tenants have managed to comply with their contractual obligations, which include rent, utilities and service costs, and paid them on time in the third quarter of the ”pandemic year”, a slightly higher percentage compared to the same period in 2019.

Also, tenants of the industrial spaces managed by Colliers International mostly tried to pay their obligations on time, the number of companies that were able to comply with all contractual obligations between July and September of this year being smaller, compared to the same period in 2019, but the share of tenants who paid their debts on time remained over 80%.

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