Blog

Oct
19

DO YOUR LETTING APPOINTMENTS COMPLY?

In New South Wales there's no standard form for an Appointment to Let for short term lettings.

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Aug
22

ACCOUNTING MATTERS

It is extremely important that a purchaser of a business involved in the hospitality industry should seek taxation advice as to the best way in which the business should be acquired.

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Nov
30

PURCHASING MANAGEMENT RIGHTS?

Whilst a Management Rights business can offer attractive lifestyle alternatives, the purchase process can be littered with financial and legal pitfalls; this can be daunting for the first time buyer.

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Feb
06

LICENCE REQUIREMENTS

As you will be collecting rent for your investor owners you will need a Resident Letting Agent’s Licence (Queensland) or an On-Site Resident Property Manager’s Licence (NSW) to own and operate Management Rights.

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Oct
15

NOT GETTING THE FUNDAMENTALS RIGHT

A recent decision of the NSW Consumer, Trader and Tenancy Tribunal (CTTT) highlighted the importance of ensuring that the fundamentals are right when entering into Management Rights agreements.

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Sep
17

THE DIFFERENT TYPES OF CARETAKING AGREEMENTS

Essentially, there are three types of caretaking agreements in the marketplace: “Do” agreements | “Supervisory” agreements | Hybrid “Do” and “Supervisory” agreements.

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Jul
15

SHORTCUTTING THE ASSIGNMENT PROCESS

Different States have different requirements when it comes to obtaining Body Corporate consent to the assignment of Caretaking and Letting Agreements.

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Apr
28

THE MANAGEMENT RIGHTS PURCHASING PROCESS

Selecting a Management Rights business should not be a quick decision. It is important to research and discuss your circumstances with people who know and understand the industry.

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Apr
16

OFF THE PLAN OR EXISTING BUSINESS?

Most people like the relative certainty that comes from buying an established business. This goes for both the business and the building. On the other hand, purchasing Management Rights “off the plan” allows you to use your skills to develop the business from its very beginning.

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Mar
24

AFTER THE CONTRACT IS SIGNED… WHAT NEXT?

The contract you sign will contain two clauses which set out Body Corporate remuneration and the stated net profit of the business.

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Management Rights Articles

  • NSW Tribunal Confirms By-Laws Cannot Outlaw Short-Term Letting

    In my August article, I made mention that the Strata Schemes Management Act 2015 (Act) prevents an Owners Corporation from restricting an owner from letting their lot, including short-term letting. I made note that the only way short-term letting can be restricted is by Council planning regulations.

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