HARRIS LAMB REPORTS CONSISTENTLY HIGH RENT COLLECTION SUCCESS DESPITE UK FINANCIAL UNCERTAINTY

Property management specialists at Harris Lamb have reported consistently successful rent collection target rates in spite of the continuing economic uncertainty faced by tenants.

The business, which has a diverse mixed-use portfolio, sets itself a goal of collecting more than 80 per cent of rents on behalf of its property management clients within 14 days of the due date, with last month’s collection statistics demonstrating that the team has hit its target on 13 out of the last 14 quarters dating back to September 2020.

In addition, the business has successfully collected two thirds of rents (66%) within a week over the past 12 months.

Rob Kennedy, Head of Client Accounting, said: “I think those figures are no mean feat: our property management team has always taken pride in delivering a first-rate rent collection service for our clients, and to have hit an 80 per cent target consistently in spite of the many challenges faced over the past four years does, I think, really show what an excellent relationship we have with our clients’ tenants.

“We moved swiftly from the challenges presented by the pandemic to those that were brought about by cost-of-living crisis and rising utility costs, which added extra pressure to occupiers’ financial commitments. Throughout all of this, we have ensured that we maintain excellent levels of communication and support with all stakeholders.

“We have robust controls and systems in place surrounding rent billing to ensure an accurate and efficient process, and our highly experienced credit control department has worked tirelessly throughout to maintain strong relationships through contact and service,” he added.