Elsewhere, Sarah Heuvel of Baybridge Lawyers (pictured above) spoke about purchasing rent rolls.
There are many things to consider and avoiding the common missteps is paramount in ensuring a smooth transition.
Ms Heuvel covered what circumstances you should be allowed to reject a management; whether you are liable for any lost managements during the retention period; and the retention terms you should be negotiating. Have you considered multi-owners? Out of area properties? Restraints? Identifying your landlords? Make sure you are fully informed prior to your next acquisition.
Ms Heuvel started her law firm with a business partner and a couple years ago merged with Baybridge Lawyers, the majority of their work is real estate based.
She talked about how they manage the process if you’re buying or selling a rent roll. When talking about rent rolls there’s a normal journey when buying or selling a rent roll.
“You have to factor in if you want to do due diligence which depends on the asset you are buying. If you purchase shares and you’re buying the corporate entity you don’t need to resign management authorities,” she said.
“If you are not buying shares, you have to re-sign all your management authorities.”