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October 2019

You are browsing the site archives for October 2019.

In: Legal

Contributed By: Hynes Legal on

Have you ever wondered what happens when a lot owner starts short term letting and it affects the ability of the body corporate to get the required statutory insurance? If so, you might want to read this the story about a dispute between owners of a two-lot scheme in North Queensland and what an adjudicator decided about those particular circumstances. We have previously written about the statutory insurance requirements for bodies corporate. The facts of this insurance dispute were relatively simple. Beach Meet is a two lot scheme regulated by the Small Schemes Module One owner started short term letting via Air BnB The body corporate insuranceRead More →

In: Landlords, Tenants, Renting and Management

Contributed By: Nick Buick on

Never before has technology taken such an invasive knife to our privacy. It’s a well known fact that our smart phones and appliances track our every move, search, and even our conversations and share this information with “private” corporations like Google, Amazon, Facebook and Apple. The ATO will now demand granular data on all trading information and use advanced data-matching to identify anomalies and trigger audits. Banks and financiers these days pick through bank statements with a fine-tooth comb and if they feel an applicant takes too many overseas holidays, or spends too much on cosmetic surgery, may decline to offer them finance. We haveRead More →

In: Landlords, Tenants, Renting and Management

Contributed By: Nick Buick on

“So, how’s your vacancy rates these days?” I asked a manager who I’d popped in to visit for a quick chat. “Great, we’re almost full, and our two bedders fill faster than we can list them!” “Oh that’s excellent” “It is” she continued before pausing “there’s just this one listing I’m having a really hard time shifting…” She went on to explain she’d had this unit sitting vacant for over a month, the owner wanted two thousand dollars a week in rent. It was in a great area, it was a penthouse, it had incredible views and a stunning private rooftop terrace, but even so…Read More →

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

“Value : A quality or idea that is considered important. The word value comes from the Latin Valere, which means: Be worth. Value is defined as the worth, usefulness or importance of someone or something.” Courtesy of Professor Google Value for money. I value our friendship. Value versus return. My personal values. Value of my personal wealth.  Valuations.  Loan to valuation ratio. Value of the dollar. Value of my time. Our corporate values. Value Value Value………………….it’s a blur but what does it really mean? I’m prepared to have a crack but first, a caveat.  Given that trying to discern value in its many forms is a bit like attemptingRead More →

In: Legal

Contributed By: Short Punch & Greatorix on

A Townsville Management Rights operator has lost their management rights because of failure to comply with the BCCM Act.  On 10 July 2019 Adjudicator Barry declared that body corporate committee resolutions from 2015 consenting to the transfer of management rights were void… Accordingly, the current management rights operator did not own the management rights, despite having performed the caretaking duties, and having been paid for doing so, for almost 4 years. The Adjudicator’s decision was the latest in a line of decisions dealing with the management rights for Allure Apartments CTS 46322 in Townsville.  On 26 September 2018 another Adjudicator had declared the letting agreementRead More →

In: Body Corporate

Contributed By: TheOnsiteManager on

One of our core services at TheOnsiteManager.com.au is to assist managers selling properties within their complex. This is a vital service for managers as it allows them to grow and retain their letting pool, compete and guard against outside agents, and generate additional (and considerable) revenue through sales commissions. To this end, we provide all the tools, databases, contracts and paperwork needed by the manager. We also allow the manager to market the sale on all the major portals around the country. We don’t charge any commission (at all!) to do this which makes our service hugely popular with over 370 managers engaging our agencyRead More →

In: Events

Contributed By: Nick Buick on

The date is fast approaching (November 22nd) for our second annual industry night: THE Industry Awards. Our managers are voting at a furious pace to nominate THE professionals across each category who have gone above-and-beyond in the last twelve months – their votes will determine who takes out the highly prestigious excellence awards this year. All of our sponsors: Complex External Cleaning, BCRC Engineers and RealEstate.com.au will all be at the lectern on the evening to announce the winners in each category: Finance, Accounting, Legal, Broking, Body Corp Management, and Relief Management. As an added twist on last year’s program, we’ve also included a managerRead More →

In: Motels and Hospitality, The Management Rights Market

Contributed By: Nick Buick on

Every single month an excess of thirty and up to forty thousand visits flow through TheOnsiteManager viewing Management Rights and Hospitality listings and this volume of traffic continues to grow year-on-year at a rate of more than 10%. In August this year, over 33,000 buyers came to TheOnsiteManager, by comparison, the nearest competitor achieved just 4,390 over the same period (we beat them by over 750%). Put simply, TheOnsiteManager will put your listing in front of more buyers in just 4 days, than the nearest competitor can hope to achieve in an entire month. As the number 1 portal in this industry, the traffic achievedRead More →

In: Landlords, Tenants, Renting and Management

Contributed By: TheOnsiteManager on

NOTE: This is an older article from 2016, we have now overhauled our software to *automatically* strip the unit number out of the listing for you before sending it to outside portals. You should therefore now include the unit number in your address, and keep the box marked “Show Unit Number To My Competitors” set to NO. This will then ensure all systems work optimally for your owner’s security. As a manager you have a finite number of owners in your complex. As such, outside agents have the potential to inflict enormous damage to your income and the value of your business if you let them.Read More →

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