For not-for-profit organisations and charities, every dollar counts – focus is rightly on making a difference in the lives of the community.
When it comes to real estate, if property isn’t your core business, why try to be the expert? Whether not-for-profits own its premises or are considering a purchase instead of leasing, the complexities can quickly become a drain on resources – both time and money.
Many not-for-profits, driven by a desire to be efficient and keep overheads low, often try to manage their property needs themselves. While this intention is admirable, real estate isn’t usually their core business.
Just as you rely on experts for accounting, fundraising, or program delivery, engaging independent real estate advisors such as Broadway Property can be the strategic move that unlocks significant benefits.
The hidden costs of DIY property management
Owning real estate offers potential long-term stability and can be a valuable asset on your balance sheet. However, it also comes with a unique set of responsibilities and potential risks. Dealing with property regulations, maintenance, market values, and improvements can be difficult and expensive if not done right.
Trying to manage these aspects internally, on top of your already demanding workload, can stretch your team. Time spent dealing with property issues is time taken away from your core mission. Mistakes made in property management or strategic decisions can have significant financial implications, impacting your ability to deliver on your charitable objectives.
Your in-house property expert, without the overhead
This is where the value of an independent real estate advisor truly shines. Think of us as your outsourced, in-house property expert. We bring a wealth of knowledge and experience, specifically tailored to the real estate landscape, without the long-term commitment and overhead of hiring a full-time specialist.
Here’s how an independent real estate advisor can benefit your not-for-profit that owns property:
- Strategic asset management: We can help you understand the true value of your property, identify opportunities for optimisation, and develop long-term strategies to ensure it serves your mission effectively.
- Financial clarity: Advisors can provide insights into the financial implications of your property ownership, helping you make informed decisions that positively impact your balance sheet.
- Risk mitigation: They can help you navigate potential risks associated with property ownership, from legal compliance to market fluctuations.
- Time savings: By entrusting property matters to an expert, your team can focus on what they do best – delivering on your mission.
- Cost efficiency: While there is a cost to engaging an advisor, their expertise can often lead to significant cost savings in the long run through strategic management and avoiding costly mistakes.
Engaging an independent real estate advisor is not an expense; it’s an investment in the efficiency, financial health, and ultimately, the impact of your not-for-profit. Let the property experts handle the real estate, so you can focus on making a difference in the community.
Are you a not-for-profit owning property and feeling overwhelmed by its management? Contact Broadway Property to discuss how an independent real estate advisor can help you unlock your organisation’s full potential.