Personal and professional concerns surround the sale of an apartment rental company. In our experience, a common owner concern is how the sale will affect customers and employees.
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There is no simple way to sell a business. But the most prepared apartment rental company sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
For most owners, the hardest part of selling an apartment rental company is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Selling an Apartment Rental Company to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based apartment rental company sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the apartment rental company industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling apartment rental companies.
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