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Care home landlord Public Service Properties (PSPI) published the usual increase in rental income, up 2.2 per cent to £8.5m in cash terms thanks to inflation-indexing clauses in its UK leases. But rising rents didn't have the usual affect of boosting property values because they don't reflect the economic reality of the care home market. That, plus falling occupancy at a Swiss home, trimmed the value of PSPI's estate by 1.3 per cent, dragging down the crucial net asset value figure.