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Sell your lettings business

Are you thinking of selling your lettings business?

We are actively assisting our franchise partners to expand their businesses with acquisitions.

Selling your lettings business with LSL Estate Agency Franchising

  • LSL Estate Agency Franchising has years of experience acquiring businesses both large and small across the UK, with many acquisitions completed.
  • We act as an introducer for our Franchise Partners, providing a framework for purchases through to completion.
  • We don’t charge a Broker fee, saving you money.
  • We match your established business ethos and values to a local Franchise partner where your business values will complement their expansion, and they can ensure the continuity and standard of service you currently deliver.
  • Our experience ensures that the sales process is handled professionally. Every part of the process is treated with sensitivity as we operate in a respectful manner.
  • All interests are protected with Franchise Partners signing confidentiality agreements before any information is disclosed.

Guide to selling your lettings business

How are lettings businesses usually valued?

Lettings businesses are usually valued on a multiple of its annual management income, this multiple can vary dependent on the make up of the portfolio and estimated growth and long-term profitability. Professional Brokers and Agents can fully assess the value for you.

How do you want to sell your business?

Are you selling all your business (share sale) or part of it, for example the lettings portfolio (asset sale)? What staff would be transferred as part of the sale?

Do you require the professional services of a business broker or plan to sell it by yourself?

How to showcase your business

Consider how you are going to advertise your business for sale, ensure you list it on business for sale sites, trade news sites/industry publications and online.

Create a business information document with details of all the financial elements, strengths, market share analysis, brand awareness and client loyalty.

Professional Brokers and Agents can help you reach more potential buyers.

Negotiations & offers

Be prepared when interested buyers want to see more details about your business and ensure you meet them and discuss why your business could be a good fit for them. Remember to ask them to sign an NDA (non-disclosure document) so any information shared remains confidential.

Once you agree an offer, be very clear on what terms and conditions its accepted on.

Sale Agreement and due diligence by the purchasers

You will need to instruct solicitors to help draw up the Sale agreement, this is usually called Heads of Terms (HOT) which will detail the verbal offer agreement.   Make sure the handover period, payment method and any indemnities are included.

During this period the purchaser usually also carries out a due diligence process to check the business and ensure there are no hidden complications that may arise after purchase.

Completion of sale and associated tasks

When the sale completes your Solicitor will transfer the shares/assets to the purchaser, you will receive the agreed payment and handover control of your business. You may have agreed to remain in the business for a handover period or advise on a consultancy basis when necessary.

Ensure you have a combined communications plan agreed with the purchaser to advise all clients & suppliers of the sale.

Settle any remaining business debts and close down or transfer any business accounts over to the purchaser.

Why sell your business to us?

  • We have proven experience with many acquisitions to date
  • We act as an introducer to our 61 franchise partners
  • No broker fee – so we save you money
  • Protected with confidentiality agreement

What happens next?

There is a lot to think about when considering selling your business and our team are here to help.

Fill in the Selling Your Lettings Business form and Hannah Gretton or Kate Ashley-Ives, our Franchise Directors will be touch.

Talk to us about selling your lettings business

Over 150 years of expertise

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© Reeds Rains. Reeds Rains is a trading name of Reeds Rains Limited whose registered number is 02568254 and the registered office is at Howard House, 3 St Mary’s Court, Blossom Street, York YO24 1AH.