StockMarketWire.com - Midlands-focused property investor Real Estate Investors said it had collected around 82% of rent for the June quarter.

The company said the collection rate reflected the diversification of its portfolio and strong relationship with its tenants.

'Based on current constructive dialogue with a number of tenants, we anticipate that rent collections for both periods will improve as these tenants recommence trading from their premises,' it added.

'Many tenants have taken this opportunity to engage with us and explore lease event opportunities in return for incentives, which has proven beneficial for the tenant and provided REI with capital enhancement potential.'

'However, there are some established tenants who have the ability to pay but are delaying doing so, using the ongoing restriction imposed by the government on the ability of landlords to recover rent, these arrears will be pursued at the appropriate time and the company expects to secure full rental payments.'

Rent collection for the March quarter had risen to about 90%.




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