Find a finance professional who works with rent roll businesses regularly and understands how banks will assess your business opportunity. An experienced business finance broker will be able to help you define your business strategy and clearly communicate your financial position and subsequent business opportunities based on borrowing capacity.
The health of your rent roll is critical. Identifying weaknesses and opportunities early on will help you to make an informed decision with regards value and the ultimate purchase price.
The following factors will impact the value of your purchase, and just as importantly, a bank or lender’s willingness to finance your venture and the subsequent cost of finance:
The successful purchase of your rent roll business is only the first step. Retaining your listings post purchase is paramount and you need to have a strategy in place, so you are ready for action the day your rent roll settles.
Property management is an industry built on personal relationships so getting in front of your landlords as early as possible will be the key. You’ll need to work hard to ensure a smooth transition, to build trust and loyalty. Personal communication, over the phone initially and then face-to-face, will be best to start with, especially as new management agreements will need to be signed.
Have an information pack about your business ready to go and be very clear about your offering and staff contact points. Perhaps consider hiring some of the seller’s staff, even in the short term, to assist with the transition process. Whatever your plan, your aim is to ensure you don’t give your new landlords any excuse to leave.
Whether you are just getting started or are an existing agency ready to add to your portfolio of properties we will work closely with you to secure a competitive finance solution to suit.
If you need funds for a rent roll business opportunity your experienced Green Team business finance broker will be in the best position to help you compare a range of solutions for your business.
The information provided in this article is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances.
Green Finance Group Pty Ltd ACN 145 035 221 is authorised under Loan Market Pty Ltd Australian Credit Licence 390222
THE FINEPRINT: The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. While all care and attention are taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances.
Green Finance Group Pty Ltd ACN 145 035 221 is authorised under LMG Broker Services Pty Ltd ACN 632 405 504 Australian Credit Licence 517192.
"While my extensive industry experience covers all areas of banking, loans and leasing – commercial, equipment and residential – my business finance specialties are the broader hospitality, accommodation and childcare industries."
Fortitude Valley, Brisbane
Australia's leading hospitality, accommodation and childcare finance specialist and winner of Australian Broker of the Year 2022.
Prior to establishing GFG in 2010, I occupied senior management roles in some of Australia's leading financial institutions including Commonwealth Bank of Australia, Suncorp, Bankwest and Westpac.