One of Home REIT’s non-paying tenants, Eden Safe Homes CIC, has surrendered its leases on 38 properties, the trust said in a stock exchange notice today (28 November).
The community interest company, which represents 2% of the trust's portfolio by number of properties, has not paid rent since October 2022. Its annual contracted rent due stands at £1.1m as at 31 October 2023. Home REIT said the majority of these properties are occupied by private rented sector tenants on assured shorthold tenancies, or ASTs, which will now transfer to the trust. Bust Home REIT tenant surrenders leases on 146 properties According to the trust, this transfer will enable Home REIT to directly collect the underlying income from these properties, which it said will i...
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