Page 10 - PNMRT AnnRpt 2020

We have managed our property portfolio with much care as the retention of tenancies and workers was uppermost in our minds through the Covid-19 crisis and we had to show leadership as landlords. We reduced rents and the Opex charges during the worst of the crisis in April/May and our tenants were very pleased with our proactive response to their needs. In doing that we ensured we understood the economic impact and we were able to react positively through the period. We are particularly grateful to Westerman Property Solutions Limited and especially Ben Westerman for their support and day to day management of all our tenants. We are grateful also to the Managers of our two Student Hostels, Palmy 31 and Baxters, who looked after those students who stayed and those who went home to their whānau in Aotearoa and have now returned to continue their study. The net result of our actions has meant that the loss of rent was minimised.
I also want to make a special mention of our Hīkoikoi Management staff who maintained the business, albeit from home and worked longer hours to keep everything running smoothly – a mammoth effort from them all. In times of crisis seeing them rise to the occasion is humbling.
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Palmerston North Ma¯ori Reserve Trust
ANNUAL REPORT 2020