The total debt of companies related to real estate services in the field of rental and management amounts to PLN 146.3 million, according to the data of the National Debt Register (KRD). However, the pandemic restrictions worsened the difficult financial situation of those companies that had already signaled problems with solvency. Over 2,200 of them still have a problem with settling their obligations towards their contractors.
“Until 2020, the situation was fairly standardized. The debt of property managers remained at a constant level of approximately PLN 130 million. In 2020, there was a sharp jump in debt from PLN 131.9 million to PLN 157.9 million, and we are now observing that it is slowly approaching it to the level from before the pandemic,” said the president of KRD Adam Łącki.
For real estate managers, the optimization of costs during the pandemic was a big challenge: renegotiating contracts and signing the so-called covid annexes, rationalization of expenses related to the operation of facilities, such as utilities consumption or adjustment of ventilation and air conditioning, as well as reorganization of the work of security services in the facilities.
April and May 2020 were definitely the most difficult months for the industry, and then June 2020. Then the debt was growing by leaps and bounds. The record level, i.e. PLN 157.9 million, reached the end of November 2021, then it began to slowly decline again, to PLN 146.3 million now.
There are 2,211 indebted property managers entered into the KRD. The average debt of one administrator is PLN 66 209. The majority, i.e. 66% of all debtors, are commercial companies. They account for 83% of all debt in this sector. Over 1/3, i.e. 34% of those in debt, are sole proprietorships. They have PLN 24.3 million to give back (17% of the total debt), it was indicated.
Analyzing the data through the prism of the map of Poland, the companies located in the following voivodeships have the highest debt: Mazowieckie – PLN 49.4 million, Śląskie – PLN 38.7 million, Łódzkie – PLN 18.3 million and Pomorskie – PLN 10.1 million. side, i.e. with the smallest debt, are administrators from the following voivodeships: Podlaskie – PLN 392,000, Opolskie – PLN 897,000 and Warmińsko-Mazurskie – PLN 953,000 Companies from Śląskie voivodships have the highest average debt – PLN 121,000 and Łódzkie voivodships – 117 thousand PLN, according to the report.
The largest creditors of real estate managers are financial institutions: primarily banks and insurance companies. The managers are behind them for PLN 61.3 million. Another PLN 28.7 million they owe to suppliers of electricity, gas, hot water and air for air conditioning systems. They also have PLN 12 million in liabilities to construction companies and public administration.
Property managers themselves struggle with unreliable payers. This group includes the largest number of companies from the commercial sector that did not pay PLN 34.1 million for real estate services. Almost PLN 10 million has to be regulated by industrial companies, PLN 8 million – for transport, and PLN 7 million – for catering. Another 12 million zlotys are owed to them by various companies conducting broadly understood administrative activities: employment agencies, travel agencies, detective agencies, cleaning companies and many others.
Source: KRD and ISBnews
