Rent Rolls

Why you need an independent business valuation for an internal buyout

Why you need an independent business valuation for an internal buyout

Thinking of selling your real estate business? It is important to understand its value first. Take a look at the benefit of having an independent valuation.

Thinking of exiting your business and considering an internal buyer? This can be a win/win as the person already understands your business and the way it works. You can also negotiate a gradual withdrawal from your responsibilities, depending on your preferences.

Leasing specialists vs property managers

Leasing specialists vs property managers

When growing your rent roll, dividing the salespeople and those who are more operations focused can be a winning formula.

Building your business can often be a chicken/egg situation. You would love more clients but the ones you have are taking up almost every waking hour for your property managers. If only they could forget about answering landlord and tenant phone calls to focus on building your rent roll!

How to manage staff during a rent roll transition

How to manage staff during a rent roll transition

When you sell or buy a rent roll, often property managers and administrative staff are included as part of the deal. If they’re not happy about the change, your customers, your reputation and your relationships can be at risk of ending up in the wrong hands.

Avoid the loss of valuable information and clients by planning ahead and structuring a plan to manage staff during a rent roll transition.

Future-proof your rent roll sale by niching your market

Future-proof your rent roll sale by niching your market

Having handled the sale of dozens of rent rolls over the last few years, I’ve come to recognise the precursors of a smooth and successful sale process.

For example, agency owners who stay on top of bookkeeping find it much easier to prepare their rent roll for sale. They have all the information of the past three to five years to hand and they’re able to present it clearly. This helps quantify the value more easily to the buyer.

How to use Facebook for multi-office real estate agencies

How to use Facebook for multi-office real estate agencies

Often the purchase of a rent roll can mean a real estate business has acquired another location and office. Part of the success of a rent roll transition in a situation like this, is what happens after the ink has dried on the contracts.Not only does the agency have to integrate the new rent roll, landlords and staff into their existing business, there is the issue of branding. Most established agencies understand the value of a consistent brand across multiple offices, however the one place we consistently see brand degradation is on social media and on Facebook in particular.

Smart Contracts - what they are and how they will affect your rent roll

Smart Contracts - what they are and how they will affect your rent roll

Blockchain is the latest technology buzzword. While many associate it with Bitcoin and cryptocurrency, the potential of the blockchain and smart contracts is being realised across many different industries from finance to the food-chain. For the real estate industry, the concept of a smart-contract, could be revolutionary, and for those opposed to change, not in a good way.   Smart Contracts 101 The majority of contracts are paper based and filled in by hand or on a computer.

Three tools that are making property admin easier

Three tools that are making property admin easier

No matter what industry you are in, one of the secrets to running a profitable small business (i.e. real estate agency) is to have efficient systems and processes.   By standardising the way you do things, you can allow your business to run without you and free up the time of your staff.   Along with the importance of systems is the need for time-saving tools. Combine the right management software with the correct systems and you will reduce dozens of the pain points which can slow down your business. 

Protecting your rent roll during the sale process

Protecting your rent roll during the sale process

When you own a real estate agency, your rent roll makes up a huge part of the value. You put a lot of blood, sweat and tears into building it up and maintaining it.   Despite all the hard work which goes into building a rent roll, one of the threats it faces is from the people who come into contact with it every day. An example I came to hear about involved a disgruntled property manager defecting to the competition after a rent roll changed hands. Once they had established themselves at the new business, they began ringing landlords and convincing them to jump ship. 

Artificial intelligence is coming for your job

Artificial intelligence is coming for your job

When you think of artificial intelligence you may picture robots and self driving cars. The reality is this technology is already all around us.   Your bank, your voice assistant (Siri, Google, Alexa) and even your flight bookings are already managed through AI. Big data systems gather information each time you interact with them, relying on your purchasing habits and your requests and those of others to predict what your next move will be.   Every industry is set to be disrupted by artificial intelligence, including real estate. 

Would a peer to peer ratings system improve tenant behaviour?

Would a peer to peer ratings system improve tenant behaviour?

What if landlords and tenants were able to rate each other?   In this new world of the sharing economy, leaving a rating is common. We do it for our Uber drivers and for our AIRbnb hosts. We leave reviews when we go out to eat, when we receive exceptional service or when we buy a shonky product.   Rent sites like DontRentMe and Bad Landlord call out property owners who do constant drivebys or have unrealistic expectations. Reviews share horror stories of apartments “not fit for human habitation” and of “water pouring in through windows”.