(Ouch!) THREE BIG PITFALLS to BUYING a RENT ROLL.

Three BIG PITFALLS to BUYING a RENT ROLL.

Emma Slape- CEO of Turner Real Estate in Adelaide shared with us three pitfalls to buying a rent roll.

Emma has been involved with 14 different rent roll purchases and shares her experience and wisdom...

Pitfall #1- Key PM Staff Retention- knowing when key PM staff are essential to the continuing journey or not. Will they come on board and are they a liability? Can you continue without them on board? Knowing if you will take them on board (or not) is essential to a successful rent roll purchase.

Pitfall #2- Unusual Client Expectations- Be aware of the expectations that the property owners have been trained to. For example, if the previous business owner personally attended to small maintenance jobs as part of their management fee then this is a fast path to disaster! You need to be aware of these type of unusual expectation issues before you purchase.

Pitfall #3- Why is the business being sold? Find out the real reason why the rent roll is being sold? For example, have key staff left and the business owner is now unable to cope, or is it simply low with fees and unprofitable to run, or has the business owner simply 'checked out' and the rent roll now in neglect and bleeding properties with unhappy property owners?

Emma Slape will be speaking at the Inspired Growth Conference in brisbane in July with Session #10- How to GROW Successfully through BUYING Rent Rolls- click here for all details