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Grainger flags lower second-half rental growth

The private rental sector specialist said new customer lettings would likely be lower throughout the remainder of the year
April 6, 2020

Grainger (GRI) has revealed that net rental growth will be below 3 per cent during the second-half as people defer moving properties amid the Covid-19 lockdown.

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While new letting activity would be reduced, churn among existing customers should also be lower, the private rental specialist said. Rental income growth was 3.4 per cent during the six months to March, with a 3 per cent like-for-like rise in income from its rental properties. Occupancy levels remained robust at more than 97 per cent and the rent collection rate in March was in line with historic norms at 95 per cent.