Because a rent roll transaction is largely the transition of relationships, the way the landlords are informed and managed is vital to the success of any rent roll sale. In terms of the landlord’s options at this juncture, the rules vary from state to state. In Victoria for example, the landlords on the rent roll are given notice by the Vendor selling the rent roll that the assignment will happen within 14 days should they not object to the assignment. In N.S.W. the requirement is to obtain a new authority in the name of the purchaser.
Women’s Property Initiatives - finding homes for women in need
For most of us, home is our safe place, a haven where we go to relax at the end of the day.
It is sobering then to read that for one in four Australian women, this is not the case. According to a report from Australia's National Research Organisation for Women's Safety, this is the number of women who have experienced at least one incident of violence from an intimate partner.
Being in this kind of situation can make ‘home’ a scary place.
In response to the crisis of domestic violence in Australia, Women’s Property Initiatives was established as a registered housing provider and licensed estate agency. The goal of this important organisation is to provide high quality, safe and affordable housing to disadvantaged women and their children.
The women who come to live in housing via WPI are only charged 75% of market rental rates. The properties are ‘community’ housing rather than ‘public’ housing, meaning that they are fully funded by WPI rather than through the Government’s Office of Housing.
This highly necessary property initiative is not only available to women who have suffered from domestic violence. In recognition of the fact that women are more likely to face discrimination when it comes to rental accommodation, WPI also helps to organise affordable housing for women who are suffering financially, particularly as single parents.
The team at WPI focuses on development opportunities, purchasing land and property in order to increase the supply of long-term rental houses in metropolitan and regional Victoria. Currently the properties in this not-for-profit’s portfolio range from an apartment block in Footscray to several fully detached houses in Epping North and Truganina.
By helping to provide places to live for disadvantaged women, Women’s Property Initiatives hopes to create a valuable return from them as well as the wider community. The benefits of providing affordable housing include:
Reducing intergenerational poverty
Reducing the costs of welfare, counselling and rehabilitation to the Government
Improved mental health of children
Better academic performance for children
Better employment opportunities for women
The team behind Women’s Property Initiatives include lobbyists, financial experts and property experts. CEO and Principal Estate Agent Jeanette Large has extensive experience across the housing sector and in 2015 was named a Victorian Finalist in the Telstra Business Women’s Awards.
As a not-for-profit organisation, Women’s Property Initiatives runs largely on donations from philanthropic organisations as well as support and pro bono work from Victorian councils and businesses.
Anyone from the public or the real estate industry is welcome to make a donation to this worthy cause via the website www.wpi.org.au.
BDH Solutions are rent-roll agents with over 30 years experience in connecting the right vendor with the right purchaser. To stay up to date with our latest listings, register here.
Restraint of Trade- Social Media Platforms
The use of social media in the workplace is dramatically changing how we go about business, bringing both significant opportunities as well as potential threats.
Without adequate safeguards, the contacts made by employees on social networking platforms, such as LinkedIn, could be retained by the employee and used to the detriment of the previous employer.
There are a number of actions that your business should definitely consider to help safeguard itself against potential loss and damage, in terms of client relationships, confidential information and intellectual property:
ensure your contracts of employment include the most thorough protection possible;
introduce policies and procedures that cover the use of information in a social media context and set rules around how employees can and cannot use social media to network with customers and prospective customers;
matters to address with new employees on commencement of the employment relationship, so that the expectations in relation to the use of, and rights associated with, social media contacts both during and after employment are clearly set out; and
how other measures (such as paying for "premium accounts" on LinkedIn) can demonstrate professional networks created in the course of employment as distinct from social networks that may fall outside the bounds of employment and remain unprotected.
BDH Solutions are rent-roll agents with over 30 years experience in connecting the right vendor with the right purchaser. To stay up to date with our latest listings, register here.
How Business Brokers add value
If business owner wants to maximize the price he or she receive then we strongly believe they should trust the process to an experienced specialist business broker and focus on what they do best – running the business.
There are 5 good reasons to use a broker:
• CONFIDENTIALITY
Many business owners are concerned that their suppliers, customers and staff are not aware that the business is on the market until an unconditional sale has been arranged. The business broker can obtain confidentially undertakings, qualify the potential purchaser and eliminate ‘tyre-kickers’ before identifying the business.
• MARKETING
The more genuine potential business buyers that the opportunity can be exposed to then the more chance of attracting the premium buyer. Our company has a multi-pronged marketing strategy using print advertising, major internet sites and powerful direct mail programs. We also have a huge database of potential investors who have signed confidentiality deeds and understand the sales process.
• VALUATION
Pricing the business right is so important. Research shows that the ‘over priced’ business often becomes ‘shop-soiled’ and sell for less when subsequently reduced than it could have.
Experienced business brokers have access to extensive market data and do not rely solely on academic calculations. They also have the business ‘savvy’ to recognize the value in the intangibles and the benefits that will appeal to a buyer.
The business broker can suggest a price range that will allow for the premium buyer and be credible and defensible.
• EXPERIENCE
The specialist business broker will have a strong team working to achieve the business owner’s goals and objections, extensive networks with professional advisors and proven negotiating skills.
• BEST OF ALL
If you are dealing with our company you are guaranteed that there will be no fee payable unless we sell your business on terms and conditions acceptable to you – (all marketing is at our cost) and we believe our fees are the lowest of the specialist business brokers.
BDH Solutions are rent-roll agents with over 30 years experience in connecting the right vendor with the right purchaser. To stay up to date with our latest listings, register here.
Why do I need a Section 52 Statement?
In Victoria you are legally required to provide a prospective buyer with a Vendor’s Statement (also known as a 'Section 52 Statement') if the goodwill, plant, equipment or fittings of the business are being sold for a total price of $350,000 or less. Failure to provide this statement or satisfactorily complete it will give the buyer the right to terminate the sale contract. You must give the purchaser or their representative a completed and signed copy of the statement before they either sign the contract or pay the deposit.
The sale of small businesses is regulated by provisions of the Estate Agents Act 1980 and the Estate Agents (General, Accounts and Audit) Regulations 1997.
Your accountant will make sure you have this document is available to prospective purchasers prior marketing the business.
BDH Solutions are rent-roll agents with over 30 years experience in connecting the right vendor with the right purchaser. To stay up to date with our latest listings, register here.