“I think we should just sell the rent roll”
Leaving a recent seminar on the proposed ‘Changes to the Residential Tenancies Act’, an agent was heard to say; “I think we should just sell the rent roll”.
Whilst not surprising, it is probably an overreaction in the circumstances, but no doubt a view shared by many. Overlaid to Covid 19 and the impact this has had on property management, many business owners and particularly Property Managers are tired and frustrated. Clear evidence suggests that up to 30% of Property Managers have recently left the industry.
So seriously, maybe now is a good time to consider selling a rent roll. Particularly as demand and multiples remains strong. But are there buyers? Who and where are they?
Not surprisingly, sales data is suggesting it is the large agencies with big rent rolls and sufficient human and financial resources that enable them to ‘weather’, indeed capitalize on the coming storm, along with medium business’s with hands on Owners/Directors working “within” the business, hence slightly reducing the need for staff.
So yes, there are active buyers…and we know who they are.