Blog

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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Mar
12

WHERE DOES THE MONEY COME FROM IN THIS BUSINESS?

Each business will be different with many different variables including the size of the complex, number of units in the letting pool and the duties required by the Caretaking Agreement.

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Feb
11

THE ACCOUNTANT'S PERSPECTIVE

As practicing accountants and CA’s, with over twenty years experience, and heavily involved with this industry, we would like to help guide you through the purchase operation toward eventual sale of these businesses.

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Feb
06

WHAT ARE MANAGEMENT RIGHTS?

The Industry started in the 1970s on the Gold Coast in complexes where there were few or no resident owners. This resulted in the Body Corporate of the complex appointing someone to live on site to manage or caretake the complex... 

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Feb
06

HOW DO WE CHOOSE THE ‘RIGHT’ MANAGEMENT RIGHTS?

Management Rights offers excellent opportunities for people of all ages and situations. There are many types of Management Rights businesses and it is definitely not a case of “one size fits all”.

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