Selling your rent roll? There’s one tough moment no one tells you about.

The preparation to put your rent roll on the market takes weeks, sometimes months. There’s a lot of data that needs to be collated, checked, dissected and analyzed. Properties. Landlords. Fees and Form 6’s and maintenance and arrears and the list goes on.

When I sold in 2023, I had plenty of experience as a buyer, having been on that side of a rent roll transaction eight times in the past. But it had been 20 years since I last sold, and I’d forgotten there’s so many more things to cover. A rent roll or agency sale is much more complex than selling a house. And there’s lots and lots of steps to prepare for.

The rent roll brokers and solicitors gave me checklists and I had all the major dates in my calendar. Contracts signed, due diligence, finance, announcement to staff, settlement, retention. Naturally the major focus is ticking off the conditions and once that’s done everyone seems to sigh with a bit of relief.

Then the anticipation builds as settlement day draws near. I was genuinely excited for mine, marking off the calendar days. A day I could hand the files over and then it’d be all up to the buyers to take care of everyone. The height of that peak I’d climbed toward was so, so close.

But there was one final moment I was completely unprepared for. A last pre-settlement task in the checklist that seemed routine but caught me totally off guard: I had to email my whole landlord database to tell them we’d sold. 

I’m not embarrassed to share that after it was done, I sat alone in my office, the door closed, and I shed some tears. 

And yes, I knew this day was coming. And we had already rung more than 60% of our landlords to tell them personally. But as I prepared that bulk email my finger waivered over the send button, and the enormity of the moment overtook me.

I was putting the financial outcome of my sale into the lap of the gods. Landlords who didn’t want to go to these buyers could now sack us. My competitors would hear about the sale and come after our properties. I hadn’t expected the pressure I felt in that moment, especially after so much preparation and planning. 

No turning back. With just one push of a button I had to completely surrender to whatever the outcome was going to be. And no one had prepared for me for that. 

I don’t blame the brokers or the solicitors or the bank manager or my friends or family. All of them played big parts in supporting and advising me throughout the sale. But the simple truth is none of them had ever sat where I did that day. None of them had ever stared at a screen and felt as powerless and exposed as I did on that day. None of them had sold a rent roll of their own.

The moment did pass. And yes we lost some fragile landlords and one of our competitors did come after some properties. But we worked through those and all the other challenges to get to settlement and beyond. 

The tears on that day have since been followed by plenty of smiles and celebrations. My decision to sell was absolutely one of the best I’ve made in a long time!

I’d love to have a confidential chat with you about your rent roll. Please call me on 0423 332 022.

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