A new style of PM business?

[TMNT]

Just got this ad in my spam box for the sale of a business

"Rent Roll For Sale This Is Future Model For Property Management
This stand out company specialises in Residential Property Management only and has achieved outstanding results in Melbourne's West and is growing rapidly with an estimated 550 properties by the time the sale settles with an average management fee of 6.11% a low number of landlords with more than one property and a excellent geographic spread.

The professionalism and the Business Plan is the best we have seen and is definitely the future model for property management in Victoria and Australia wide. They do not operate a sales division although they have commission sharing arrangements with some of the larger agents in the region.

The price is based on a 3 times multiple of the annual management fees. They are projecting adding 20 properties per month in 2014 currently there is between 470 - 480 properties and as mentioned above they are confident that by the time the sale is completed there will be approx 550 properties. "


Does anybody know which company it is? just curious,

3 times multiples of earnings with a growing rent roll doesnt seem too bad to me on face value

but then why would they be selling !?

 

[DaveM]

This mob or similar?

http://www.assethq.com.au/

One of my PM;s has just outsourced their mgmt admin to them and only has one leasing agent present to do open houses and liase with trades. All rent/disbursements are done from the outsourced company.

Deciding if I will change PM's depending on how they go

 

[Truly Exotic]

This mob or similar?

http://www.assethq.com.au/

One of my PM;s has just outsourced their mgmt admin to them and only has one leasing agent present to do open houses and liase with trades. All rent/disbursements are done from the outsourced company.

Deciding if I will change PM's depending on how they go

thats exactly who came to my mind when I saw snippets of the ad,

however, although i havent used them directly, but have dealt with them, the feedback im getting isnt all tha spectacular,

 

[Ed Barton]

Just got this ad in my spam box for the sale of a business

There's a reason it's in your spam box...

"Rent Roll For Sale This Is Future Model For Property Management
This stand out company specialises in Residential Property Management only and has achieved outstanding results in Melbourne's West and is growing rapidly with an estimated 550 properties by the time the sale settles with an average management fee of 6.11% a low number of landlords with more than one property and a excellent geographic spread.

The professionalism and the Business Plan is the best we have seen and is definitely the future model for property management in Victoria and Australia wide. They do not operate a sales division although they have commission sharing arrangements with some of the larger agents in the region.

The price is based on a 3 times multiple of the annual management fees. They are projecting adding 20 properties per month in 2014 currently there is between 470 - 480 properties and as mentioned above they are confident that by the time the sale is completed there will be approx 550 properties. "

Poor English, random capitalisation of words. Projections, hopes and dreams whipped up to sound like fact, without any details.

If you believe This i got a tool that Proven to Cut your bills In Haf... (send money, then I will send you a pair of scissors)