Property portfolios
One portfolio, one overall view.
When there are many properties, the right choice for each one depends on all the others.
Portfolios built up over several generations, inheritances made up of different units, properties held by a family company: deciding one property at a time often means selling the wrong one, or selling at the wrong moment.
That is why we start from the complete picture. Only then do we show, property by property, what is worth selling, letting, renovating or keeping.
The needs
When the portfolio has to start working again.
An inherited property portfolio is rarely designed for today’s needs. Some properties earn well, others stand empty, others still cost more than they bring in.
The need is often concrete: raising cash to support or renew the family business, giving the family a steady income, simplifying co-ownership between heirs. Different goals call for different choices, even with the same properties.
The question is not “what is each property worth?”, but “which shape of the portfolio really serves the family?”.
- CashFor the family business, for new investments or to rebalance the accounts, without selling in a hurry.
- IncomeProperties that earn in a steady and predictable way, with management that can be sustained.
- SimplicityFewer properties to manage, co-ownership settled, holding costs under control.
- ContinuityA portfolio that stays in order and can be handed on to the next generation.
The picture first
Each property, read alongside the others.
For each property we gather the same elements, so that they can be compared. The result is a written picture of the portfolio, clear even to those who do not follow the properties every day.
- The market valueDrawn from real sales of similar properties, not from the asking prices in listings.
- The holding costsProperty tax (IMU), building charges, maintenance, insurance, months without a tenant.
- The income, current and possibleNet of taxes and expenses, and compared with the value.
- The state of the documentsLand registry, planning compliance, title history, leases in place.
- The potentialRenovation, splitting into units, change of use: what they cost and what they add.
An example of how we read it
To each property, its role.
An illustrative example, not a real case: four properties from the same portfolio and the choice the figures suggest for each one.
- Sell
The large flat in the centre
Empty for years, high value, no income and high holding costs. It is the most natural source of cash.
- Keep
The let shop
A reliable tenant and a long lease: it earns regularly and needs little management.
- Renovate
The dated flat
In a much sought-after area: targeted work raises its rent by more than it costs.
- Wait
The co-owned property
First the heirs settle matters between them and put the documents in order; then the decision is made, without haste.
The order matters as much as the choice: selling the right property first can make it unnecessary to sell the others.
Selling everything, and in a hurry, is rarely the best choice.
Choosing what to sell, what to keep and in which order makes it possible to raise the cash you need without giving up the portfolio on unfavourable terms.
How it works
Four stages, with a single point of contact.
- 01 · Listening
The family’s goals
What is needed, by when, with which constraints. A confidential conversation, with no commitment.
- 02 · Picture
The inventory of the portfolio
Value, costs, income, documents and potential of each property, gathered in writing.
- 03 · Plan
The choices and their order
What to sell, let, renovate or keep, and in which sequence. The decision remains yours.
- 04 · Carrying it out
The individual operations
Sales, lettings and works, followed through to the end; the plan is reviewed at regular intervals.
We work together with the family’s accountant, notary and lawyer: property decisions and tax decisions move forward together.
Confidentiality
Discretion, above all.
A family portfolio is about people, stories and relationships, not only buildings. The picture we prepare remains a confidential document, shared only with the people you choose.
When the situation calls for it, a property can be offered privately, without a public listing, to a select circle of buyers.
We have worked in Milan since 1992: we know its neighbourhoods, and the value of discretion.
The first step is a conversation
Let’s talk, with all due discretion.
You do not need a complete list of the properties already. A first account and the family’s goals are enough: we build the picture together.