Rent collection woes increase for funds in Q2
Open- and closed-end funds have reported increasing problems with rent collection across Europe, as restrictions on business activity and local lockdowns continue to heavily damage the continent’s economies.
According to INREV’s Valuations Questionnaire, 21.5 percent of fund respondents said that they had received less than half of their rent on time in the second quarter of this year, an increase from the 14.1 percent who said the same for the period between January and March. Similarly, a declining number of respondents — 66 percent in Q2 versus 78.1 percent in Q1 — said they’d received between 75 percent and 100 percent of rent due for the period.
More respondents now also expect an impact on net operating income in the future — 78.1 percent compared with 66.7 percent the previous