Rent Collection and Relief Status: Owner Response Outlook

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In April, Colliers Real Estate Management Services (REMS) initiated a national assessment of the tenants in our managed portfolio and released a report examining the key drivers behind rent relief requests.

We continued our assessment in May, surveying our 7,100 office, retail and industrial tenants across 66 million square feet of commercial real estate in Canada. May's report, Rent Collection and Relief Status, examines rent relief duration, rent collection status and the types of tenants submitting rent relief requests.

Key Takeaways: 

  • 16% of commercial tenants did not pay rent in May.
  • Of the tenants who requested rent relief, 23% were able to negotiate direct relief agreements with their landlords outside of the Canada Emergency Commercial Rent Assistance (CECRA) program. Of that number, 94% were granted deferrals and 6% were granted rent abatements.
  • The most common relief duration is three months, with 46% of tenants being granted this length of relief, 28% granted two months of relief and 18% granted one month of relief.
  • Retail tenants are most likely to have come to an agreement on rent deferrals (18%), followed by industrial tenants (14%) and then office tenants (11%).

Download the full report here to learn more.


For More Information, Please Contact:

John Duda

President, Real Estate Management Services Canada

Toronto Downtown

John Duda is the President of Real Estate Management Services, Canada. John began his career as Director of National Property Services at CIBC, joining Colliers in 2010. Appointed as head of Real Estate Management Services in 2017, John has driven significant growth both organically and strategically through the development of new service lines and markets. In his role as president, John a oversees 14 offices across Canada, working closely with local teams to create value-driven strategies in support of clients’ goals. 

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