Latest figures from real estate advisor CBRE show that UK care home rent collection was 96.8% in June, despite the sector being on the front line of the Covid-19 pandemic. Across all real estate sectors in the UK, the collection rate in June was 80.6%.
Sam Wright, senior director, CBRE operational real estate sector said: “With difficulties in sourcing PPE, increased operating costs, staff absences, a drop in new referral rates and the impact of the virus itself, Q2 2020 was a difficult time for care operators. Despite this, they kept their care homes open and continued to focus on delivering care to those who need it.
“To support this, we have seen the care home specialist landlords working closely with their tenants to foster collaborative working, share best practice, and develop real estate led solutions.
“These real estate-led solutions have ranged from the creation of new externally accessed visitor’s rooms with internal screens, to the purchase and installation of thermal imaging cameras. The purpose of these solutions has not been just to reduce the risk of Covid transmission into and within the homes. They have also been designed to help their tenants reassure staff, residents, prospective residents and their families, that the home is taking every measure it can to try and keep them safe. While the landlords have done this because it is ‘the right thing to do’, the added reassurance for new referrals will also support their tenants to re-build their occupancy levels. This in turn will support the business and help the tenants to pay their rent.
Date published: August 14, 2020