Commercial Rent – What Are Quarter Days?

Commercial rent has a long history and this often throws up some unusual terms you might not have heard of such as ‘quarter days’. So if you are new to the world of commercial renting, here is a brief explanation of what the term means.  

Quarter days have been in used in connection with commercial rent for hundreds of years and as you might have guessed these quarter days mark each quarter in a year when the rent falls due. Most commercial rents are payable quarterly in advance, therefore it certainly pays to keep on top of rental payments when they fall due on these dates.  

Traditionally, quarter days fall on 25th March, 24th June, 29th September and 25th December. Not all commercial landlords stick to these dates of course, some prefer to use different systems and different payment dates depending on what is agreed with the commercial tenant.  

If you are a landlord faced with having to pursue rent that hasn’t been paid by the due date, then you may be able to recover debt using a process called  Commercial Rent Arrears Recovery (CRAR) which falls under the Tribunals Courts and Enforcement Act 2007, Part 3. 

To speak to one of our team for more assistance please call 0800 002 9049.