10 Jan Tips for selling your Management & Letting Rights business (MLR)
Here are a few tips when selling your MLR business for a smoother sale process;
- Get a Profit & Loss statement ‘For Sale purposes’ by an MLR specialist Accountant. We can provide a list of Accountants working in the industry who can assist.
- Review your PAMD Form 20as and/or POA Form 6s. Check that all letting appointments are signed and are with the current owner of the Lot; Are ‘Assignments’ executed? – Assignment Clause initialed and box ticked whether the Client ‘Agrees’ or ‘Disagrees’, the new POA Form 6 assignment is automatic.
- Get your Caretaking & Letting Agreements ‘topped up’ either at the AGM (costs borne by the Body Corp) or EGM (costs borne by the Manager)
- Get a valuation for Pre-Sale advice on the Managers Lot and/or MLR business to establish any offers received are realistic. Call Brisbane office on 1800-664094.
Any other questions? Feel free to contact Alison Sun, Alex McCowan or Claudine Overton from the Australian Valuers MLR specialist Valuers team.