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Read MoreFrom our heritage as Sheriffs we have developed our property services for the benefit of our community so they have a one-stop shop of protection.
As a commercial landlord in England and Wales, staying ahead in the property game requires a strategic approach. One crucial aspect that demands your attention is the Quarter Day. These specific dates – typically falling on the 29th of September, 25th of December, 25th of March, and 24th of June – mark not only the end of each quarter but also the time when rents are due from tenants.
At Shergroup we have supported landlords and their advisors during the turbulent years of the pandemic where the UK Government had a never-ending stream of regulation on what could be done to protect business tenants. We have seen landlords be incredibly patient in waiting for this regulation to come to an end and to get to calmer waters in handling the impact of the pandemic on their tenant relationships. It has not been an easy time for anyone.
Now we find ourselves in a post-pandemic period, with landlords needing to get back on track with collecting in rent, managing business tenants, and ultimately taking tough decisions on whether to keep a tenant in a property
In this blog, we’ll delve into the significance of Quarter Days for commercial landlords and explore how to continue the post pandemic clean-up of their commercial property portfolios, especially when dealing with arrears and the potential need for repossession.
With the September Quarter Day on the horizon, we are highlighting the action that landlords and landowners can take using Shergroup’s Solution Platform.
Quarter Days are more than just dates on a calendar; they are pivotal moments that impact both landlords and tenants. These dates have historical origins, tracing back to when rents were collected on specific days to align with agricultural cycles and the changing seasons. Today, they continue to influence the property landscape, dictating financial flows and responsibilities within the rental market.
Now we find ourselves in a post-pandemic period, with landlords needing to get back on track with collecting in rent, managing business tenants, and ultimately taking tough decisions on whether to keep a tenant in a property or bring the lease to close.
For landlords, Quarter Days serve as crucial checkpoints for financial planning and stability. These dates mark the inflow of rental income, allowing landlords to manage their own obligations, such as mortgage payments, property maintenance, and tax liabilities. Proper financial planning around Quarter Days can help landlords avoid cashflow issues and maintain the health of their property portfolios.
While Quarter Days can be smooth sailing, they can also present challenges, particularly if tenants fall into arrears or if the situation necessitates property repossession. Here’s how landlords can navigate these potential hurdles:
Quarter Days are more than just dates – they are opportunities for commercial landlords to maintain financial stability, nurture tenant relationships, and address potential challenges head-on. By understanding the significance of Quarter Days and adopting a proactive approach to arrears and repossession, landlords can navigate these periods with confidence and ensure the success of their property ventures.
Are you prepared for the upcoming Quarter Day? Share your thoughts and strategies in the comments below. And remember, professional guidance from Shergroup’s Solutions platform is always available to support you in your landlord journey.
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Last updated | 19 July 2023
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