A profit and loss statement [P+L] is one of the most crucial financial documents used in the sale of a real estate agency and/or rent roll.
Buyers will request it and banks and lending institutions will insist on it.
The profit and loss statement should clearly show where your revenue comes from but also where your greatest expenses are.
One of the best things you can do to prepare your business for sale is to ensure your P+L is departmentalised to ensure it is split out for the sales business versus the property management business.
Brad Dean, our newest Agency Broker, discussed the P+L statement when he recently spoke with Alan Dawson.
Watch their catch up in the video below.
If you are interested in buying or selling a rent roll please contact Alan Dawson or Brad Dean for a confidential discussion.