Why use Management Rights Experts?

The purchase of Management Rights can be a complex process that requires a significant investment of time and money. It is therefore vital that you engage the relevant industry experts to guide you through the various stages and to ensure a smooth purchase process.

Please check our Seminar Calendar for dates and venues

Oct
22

DROP DEAD DATES

DROP DEAD DATES

It is critical that you exercise any option in your Caretaking and Letting Agreements strictly in accordance with the terms of the Agreements.

In recent years I have seen a husband and wife, in the later stages of their working life, walk away from what was a good business with next to nothing as a consequence of missing the first option exercise date by 2 days. It was distressing!

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Sep
21

IS COMPANY TITLE MAKING A COMEBACK?

Strata laws were first introduced into New South Wales in 1961.

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Aug
21

Duties And Obligations Of Committee Members

Committee members are all volunteers and the vast majority are unpaid.

The strata legislation (and by laws) in each state provides the framework for governance of strata title buildings. Bodies Corporate (or, as they are called in New South Wales, “Owners Corporations”) delegate much of their day-to-day decision-making authority to committees.

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Apr
24

THE DEEP END OF POOLED LETTING POOLS

We regularly review a variety of letting appointments (the agreement between the building manager acting as letting agent and the owners of the investment units used in a letting pool) and we often find that there is a noticeable gap between what the appointments state versus how they are interpreted.

For the most part the gap can be attributed to overly simplified clauses that do not adequately state the practices that the majority of the industry operates under. In general, these inadequacies are rarely the subject of a legal dispute (when business is good) and so fixing them is often left on the “do it tomorrow” pile.

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Feb
27

Will The Vacancy Fee For Foreign Owners Have An Impact On Short Term Management Rights?

Following a series of amendments in November 2017, foreign owners who have applied for FIRB approval after the 9th May 2017 may be liable for a “vacancy fee” where their residential properties are not occupied for at least half a year.

The vacancy fee was introduced by the Federal Government to address domestic housing affordability by encouraging foreign owners to put their properties on the rental market.

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Apr
28

How To Kill A Business Sale

I have often been involved in transactions where the seller gave the impression of making it difficult for the buyer to do perfectly reasonable investigations.

In a recent matter, the buyer wanted 14 days to do a few checks on the business. The seller agreed, but only allowed a 7 day period. The buyer felt he needed at least another week, given the nature of the enquiries and the distinct possibility they would not be answered within the 7 day period.

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Apr
28

THE CHANGING FACE OF MANAGEMENT RIGHTS SALES

Management rights, like all industries, change and evolve over time. One of the biggest changes in recent years is changes to the sale process itself.

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Oct
19

FINANCE DEEDS IN NSW

In Queensland, the “Gallery Vie” decision continues to cause significant problems when it comes to the sale or refinancing of management rights.

 

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Management Rights Articles

  • 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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