Summary

Rental book focussing on student accommodation in Pretoria East

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How does the business operate on a daily basis?

There is very little to do on a daily basis. Important monthly tasks include forwarding invoices to tenants, statements to landlords, dealing with ad hoc requests, including maintenance, reconciliation of rental payments, and following up on payments.

What Advertising/Marketing is carried out?

Ad hoc advertising campaigns. Mainly referrals.

Does the business have any contract work?

Yes, formal mandates are signed with the landlord, and 1-year lease contracts are signed with the lessees.

How could the profitability of the business be improved?

Profit can be increased by growing the number of mandates. If added to an existing rental portfolio, the additional income will boost profits without a corresponding increase in overheads.

What is the total staff complement?

Only one agent is working on this book, and he will be leaving to explore a new opportunity

Is an office a requirement?

Most of the work is done via an online system, and an office is not a requirement.
Work from home, or the buyer can integrate into the current office setup.

What are the main assets of the business?

45 Mandates and 62 lessee contracts.

Strengths?

Well-established rental book.
All paperwork is up to date.

Opportunities?

Grow the rental book mandates.
Integrate into an existing rental book.

What is the reason for the sale?

The agent wishes to explore a new opportunity.

Who is the Buyer?

Only registered Estate Agencies or qualifying individuals will be considered for this opportunity. To operate as a letting agent and manage a rental book, the Buyer must be registered with the Property Practitioners Regulatory Authority (PPRA)