Blog 6

A Rent Roll Due Diligence has 4 great uses which most business owners are unaware of.

This week we will focus on use number 4.

Running an efficient and affluent business.

We have covered a rent roll due diligence for preparing to sell a rent roll, preparing to buy a rent roll and buying a rent roll.  What about to help you run an efficient and affluent business?

When the house is sinking you should be looking for the foundational flaws that need fixing.  A rent roll due diligence can assist you to find foundational flaws within your rent roll including where policies and procedures need reviewing and can also direct you to the type of training that is required to help your staff so that they can better manage their time and efficiencies in your agency. 

A rent roll due diligence can direct where resources are required to be spent to help fix your business.  Once a full review is completed, keeping this updated is much easier. 

A lot of focus is placed on the need to continually review operating expenses.  Are you charging the fees stated in your property management agreement?  May times, our rent roll due diligence finds where fees have not been charged in accordance with the management agreement and in some cases the amount not being charged covers the cost of the due diligence.

We understand that business owners are generally time poor, running their own business, managing staff and undertaking their required duties to maintain the financial flow of their business.  When disaster strikes a Rent Roll Due Diligence is generally handed and added to the workload of the most senior property management staff.

I have completed over 1,400 reports in my career and each report has recorded discrepancies in paperwork management or completion/software input.

I apologies for being so forward…under these circumstances relying on persons of the business to complete rent roll due diligence is undertaking this important task with the same persons making the mistakes in the business.

The Opulence Consultancy rent roll due diligence has been designed to assist business owners prepare for sale, operate efficient and affluent businesses, find foundational flaws and assist in the buying process.  Best practice, a deep level of understanding as to the value of a rent roll, operating and owning a real estate business and buying and selling of rent rolls are used to provide a thorough and informative report which highlights all discrepancies within the rent roll portfolio. 

 

Opulence Consultancy is dedicated to assisting real estate industry business owners in operating and running affluent and efficient businesses.