>
Another headache for landlord Home REIT as two of the largest tenants refuse to pay their rent
Disputed homeless landlord Home REIT says two of its tenants haven’t paid rent since November.
Big Help Group, a Liverpool charity which is the largest tenant, and London-based charity the Noble Tree Foundation are ‘disputing their lease obligations’ and have made no rent payments for the three months to November 30.
Home REIT said it was “reviewing all options” to secure payment.
Rent dispute: Liverpool-based charity Big Help Group and London-based charity the Noble Tree Foundation have made no payments to Home REIT for the three months to November 30
But Big Help boss Peter Mitchell, a former Labor councillor, claimed it had agreed a two-year rent-free period with Home REIT from early September last year.
The development is yet another headache for Home REIT, which leases its properties to charities, municipalities and community groups who then use them to house the homeless and other vulnerable people.
It has been under pressure since November when it was attacked by Viceroy Research, which questioned its business model and the group’s ability to collect rent.
The shares were suspended on Jan. 3 after falling more than 50 percent in the wake of the viceroy’s attack.