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Landlords and Investors Should Partner with Advisors

 |  9 September 2019

Commercial landlords who manage their own property portfolio can do a few clever things to increase their yield, one of them is to save on property management costs by managing their own portfolio.

After all, landlords who manage their own portfolio are running their own business, and it needs to be treated that way. A portfolio is more than a collection of real estate assets – it’s a business in every sense of the word.

This is dependant on the landlord’s ability to effectively and efficiently play the role of the property manager.

Whether landlords have invested on their own, or they have a collective of investors forming their ownership group, there needs to be a clear strategy on how to increase portfolio revenue.

There are a number of ways landlords can put their best foot forward: investing in PropTech, investing in their buildings, and one that’s often overlooked is investing in relationships with advisors – and more specifically cloud advisors.

The benefits of doing investment due diligence that's informed by advisors are tangible, and investing in a relationship with advisors helps self-managing landlords make better business decisions – it ultimately comes down to who’s in the landlord’s corner.

Introducing an impartial partner can often provide learnings and a renewed perspective, which is something consultants continue to make a living out of amid the era of the knowledge worker.

An overlooked benefit is the honesty of opinion provided by a party who has no preconceived notions of your business – this is impossible to achieve when going around the table of the fund's investors. The idea of partnering with an advisor should be done to inject new expertise in your business, not to just tick a box to demonstrate your efforts in getting outside opinions.

The benefits of engaging a party with extensive knowledge in a particular real estate industry segment, say such as in cloud software and PropTech adoption, means that landlords gain the insights they need to be at the top of their game.

Cloud advisors, for example, can talk to the details around modern software adoption in the marketplace, and what that means for the competitive landscape. The how, why, what and when of software 

They can talk to specific case studies to highlight real-world examples, and they can recommend best-fitting platforms to adopt now, as well as what to look out for in the future. This allows landlords to focus on what they do best, which is to run their portfolio like a business.

CPA Director of RBK Advisory Jason Robinson says that running a business, including a property portfolio, is not an easy task and with increasing complexity in compliance and the forever evolving business landscape, it’s more important than ever to have an advisor on your side.

“Partnering with an advisor gives you a sounding board and someone in your corner to ensure you are making the right decisions, using the right tools and staying accountable to work towards short term and long term goals.

“At RBK, we know that clients that use apps, tech or add-ons alongside their cloud accounting software are more profitable than those that are sticking to older school methods. These clients are also reducing their admin time as a result of implementing the right tech, giving the business owner more hours back each week, as well as making more money. What business owner doesn’t want that?”, says Jason.

It’s impossible to find the bandwidth to solve all of your portfolios challenges, therein lies yet another reason why landlords and investors should invest in partnerships with advisors.

Advisors help to free up time landlords would otherwise spend on tasks that are not part of their skillset – this is one of the most pronounced benefits of delegating in a bid to increase efficiencies. Leveraging advisors and investing in cloud software makes this possible.


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