350 property management agreements for sale, Canberra region.
We offer 350 managements via the sale of shares in a company. The company is clean with no attached liabilities. The current directors will provide enforceable personal guarantees and warranties.
This method of sale has proven to be less complex and dramatically increases the retention rates for the incoming owner.
The reason for the sale: The current owners are transitioning to retirement. They will be active as selling agents within the market and will sign non-compete and non-approach conditions.
A quick snapshot of the opportunity:
* Average fee excluding GST 7%
* About 50% of management is houses, and the balance is a split of townhouses and units
* Annual management fees are approx $775k
* The average number of properties per landlord is 1.24
* Average weekly rent is $594 per week
* Multiple banks are prepared to lend 80% on the value of the asset, which has been calculated using the industry benchmark of 3.1 times annual management fees
Interested parties need to email Frank Walmsley contact at auctionadvantage.com.au expressing their interest.
