Sectors / Category

Annual turnover

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  • Mandate: 32985
  • Added: 11 Apr 2019
  • 143

Property Rental Agency

Western Cape, Cape Town
143
Mandate 32985
Added 11 Apr 2019
R 600,000* ZAR
Stock: R 0
Assets: R 0
R 33,333 ZAR
Kutu Venter
(PRINCIPAL)
Aldes Alpha
Western Cape
Western Cape
Summary

Management of residential and commercial properties.

Property Rental Agency
SELLING PRICE
R 600,000* ZAR
Stock: R0
Assets: R0
R 33,333 ZAR
Summary

Management of residential and commercial properties.

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Fully describe the business's activities?
Property Rentals Agency: Management of residential and commercial properties.

How long has the business been established?
Since 1988.

How long has the owner had the business?
Approximately 10 years.

How does the business operate on a daily basis?
Marketing of properties to let. Resolving landlord and tenant queries.

How are the clients attracted to the business?
Via word of mouth, referrals, and the internet.

What Advertising/Marketing is carried out?
Advertising on various websites. Property display boards. Etc.

What competition exists?
Other rental/letting agents in the area.

What are the seasonal trends?
Rental market quiets-down during December and January.

Is the business VAT Registered?
No.

Are there up-to-date Management Accounts available?
Yes.

What percentage of the business is cash/credit?
Only direct deposits into bank account. No cash on premises. Rent collected via debit order.

What is the age analysis of the debtors book?
Settled within 3 months for secure deposits, otherwise normal payments are around 2 months in arrears on average.

How could the profitability of the business be improved?
By marketing in higher-value rental areas and by working with letting agents.

Is Seller finance available and for what amount?
No.

What is the total staff complement?
3 staff members (only currently 2 staff members).

Give a breakdown of staff/ functions/ length of service?
Staff Member #1: Info & Admin Maintenance. – Around 2 Years’ Experience. Staff Member #2: Accounts Admin – Around 2 Years’ Experience. Staff Member #3: 'Legwork' Admin – Vacant Currently.

Do any receive special perks or incentives?
No.

Do any have management potential?
Yes. (The Accounts Admin staff member.)

How involved is the Owner in running the business?
Quite involved, but only at the office 4 days a week.

When does the current lease end?
31-Dec-2018 – Currently, on a month-to-month basis.

Is there an option of renewal & what period?
Yes, 2 years+.

What is the annual escalation %?
10%

What are the trading hours?
8am-5pm Mondays to Fridays.

What is the square meters of the business?
+-85sqm

Do you require a licence?
Yes.

What lease deposit and/or other surety is required?
1 month's deposit.

What are the main assets of the business?
Computers and office furniture.

What is their overall condition?
Fair.

Do any require repairing?
No.

How have they been valued ?
Owner's estimate.

Which assets are on lease/HP and with whom?
None.

Are they presently insured?
Yes.

Strengths?
Well-established clients / property portfolio. Not area-dependent.

Weaknesses?
Not letting agents (requires EAAB admin).

Opportunities?
Potential to network with developers and estate agents who do NOT deal with letting.

Threats?
Local letting agents.

What is the reason for the sale?
Health related reasons.

Why is this a good business?
Consistent income from rental properties.

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FRANCHISE DETAILS

Aldes Alpha

2 members
11 active mandates
Western Cape
Galleon Beach, Pelican Parade
7530

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