If you’re looking to purchase a rent roll, preparation is everything. Whether it’s getting your finances in order or identifying the perfect target, being proactive ensures your acquisition is a success. Here’s your guide to getting ready—both internally and externally.
Internal Preparation: Setting Up for Success
- Understand Your Finances
Take a close look at your budget and determine what you can realistically afford. This includes organising financing early so you’re ready to act when the right opportunity comes along. - Assess Your Capacity
○ How many properties can you acquire, and what does the purchase price look like?
○ Do you have the staff to handle the increased workload, or will you need to onboard staff attached to the new rent roll? - Streamline Your Operations
Before expanding, ensure your current office is running like a well-oiled machine. This means staying on top of:
○ Routine inspections
○ Compliance
○ Repairs and maintenance - Plan for the Transition
Preparing your team and processes in advance ensures a smooth handover. A little groundwork now can prevent disruptions later.
External Preparation: Scoping Out Opportunities
- Create a Target List
Identify the offices or rent rolls you’d like to acquire. Focus on competitors whose values and operations align with yours. - Start Building Relationships
Reach out to these businesses, schedule meetings, and start conversations. Being proactive can put you ahead of others in the market. - Evaluate Staffing Considerations
Look at the staff attached to the rent roll. Does their remuneration align with your current structure? Will the acquisition benefit or disrupt your existing team dynamics? - Know Your Numbers
Come prepared with realistic offers that reflect the value of the rent roll. If the seller has done a great job building a premium rent roll, acknowledge that—and adjust your offer accordingly.
Why Preparation Matters
Purchasing a rent roll isn’t just about numbers; it’s about creating a profitable and seamless addition to your business. By preparing internally and externally, you set yourself up for a smooth acquisition that benefits both your team and your new clients.
Ready to Buy? Let’s Talk
Whether you’re just starting your search or ready to make a purchase, MC Broking + Advisory is here to guide you every step of the way. Contact Matt Ciallella at 0404 668 972 or email matt@mcrrb.com.au for expert advice and support.