Run Property listed and is now trading at a massive discount to the listing price. At a share price of 14-15 cents that values the company at around 9-10m according to some research I've seen. Given they have supposedly rejigged the business model and cut some costs, I wonder if the company is worth another look. Surely the rent roll sold on its own would be worth more than that figure? I'm doing some digging, but does anyone know what sort of multiples property manager's residential rent rolls usually change hands for? Is it 2-4 times or higher? Run is not yet profitable, but I wonder if it's at a tipping point? Rents are supposed to be rising. The anecdotal evidence seems to support that. Whilst that's no doubt due to supply side constraints, query to what extent property managers like run can get a revenue boost as a result. Disclosure: I don't own RNC but I'm toying with speculating on it. Yes I use the word "speculate" deliberately. Anyone have views on what's a reasonable valuation multiple for a rent roll? Thanks N.