This subject is an ongoing battle for all business owners – they are so busy running the business that tasks tend to fall through the cracks and disappear without trace.
Ask yourself – if you were to sell tomorrow, is your business presented in its best light to attract buyers ?
-governance and regulatory compliance
-documented policy and procedures
I spend about 80% of my working week selling real estate rent rolls. So today while I’m talking directly to real estate principals, the same applies to any business.
We have been selling a number of rent rolls in Qld over the last 4-6 months. To manage a rental property in Qld, the managing agent is appointed by the landlord via a Form 6 (Qld) appointment form. While the Form 6 has been in play for a number of years, agents can still legally manage properties on the old PAMD authority. And that’s fine, until you want to sell the rent roll.
While there are many issues in preparing a rent roll for sale, the managing agent authority is a key issue – and here’s my point.
Many rent rolls in Qld are not ‘sale ready’ because agents sometimes don’t bother updating the PAMDA to a Form 6 authority until they decide to sell.
This causes a number of problems I don’t have the space to detail here, but give me a call if you’d like to discuss them.
Run your business like you’re about to sell it tomorrow – it will be a more enjoyable, profitable journey. And when you decide to sell the process and the price will be enjoyable too.