Most tenants complied with their contractual obligations to owners of the office buildings managed by Colliers International between July and September, even though many companies operated in a hybrid system, combining remote activity with office presence. Thus, the share of tenants who paid their debts on time was 91% in the third quarter of this year, compared to 87% in the same period in 2019, despite the effects of the pandemic on their activity, data from the property management division of Colliers International show.
”Colliers' data on payment behavior and macroeconomic data, in general, suggest that there is no excessive stress accumulated so far on companies. Indeed, in recent months a little under 100,000 workers became unemployed, but job losses seem to have stabilized since August, and employment intentions are recovering much faster than a decade ago. In addition, the data of the central bank show that the amounts refused for payment with debit instruments of companies - which would indicate the degree of stress in the economy - is close to the minimums of this cycle and at values significantly lower than last year, which shows that money flows properly between companies”, explains Alexandru Atanasiu, Associate Director Real Estate Management Services at Colliers International.