July 2021

You are browsing the site archives for July 2021.

Contributed By: VANESSA SCIORTINO of Nicholsons Solicitors on

Managers of management rights businesses have had a lot on their minds lately. From keeping people safe during the global pandemic to getting the tourism industry back on track, it’s easy to see how managers could overlook something so important as the key dates in their agreements. It’s time to set an epic reminder. Annual remuneration reviews Some body corporate managers will automatically review a caretaker’s remuneration at the time stated in the agreement. Other body corporate managers will not. Managers seeking to ensure their remuneration is properly increased in accordance with their agreement should diarise the review date and ensure the review occurs asRead More →

Starting July 2020, in the post Brisbane and SEQ lockdown, we as a population, couldn’t wait to travel.   And…. this need-to-travel remains! Short stay operators, on the average, had a rough time of it from March to June last year, with the majority forced to switch rooms from short to long stay.  There was simply little choice. Of course, this saw the business bottom lines deflate both significantly and rapidly – mostly within the month of March.  Beware the Ides of March as they say! However, that determined need-to-travel-anywhere has seen almost every operator who has reverted partially or wholly back to short stay,Read More →

Contributed By: Vanessa Sciortino - Nicholsons on

All caretaking agreements will provide for an annual review of the caretaker’s remuneration. Unless there has been a specific change that review will normally be on the anniversary of the commencement date of the agreement.  Remuneration reviews in agreements can be specified to occur by the greater (or lesser) of two methods.  They are most commonly reviewed by a fixed percentage, CPI or market review.  Care should be taken when considering the drafting of the review clauses to ensure they, firstly, work correctly and secondly, that there is sufficient detail included in the review clause  (particularly for a market review clause) which sets out theRead More →

Contributed By: Michael Kleinschmidt Stratum Legal on

Forward bookings belong to the lot owner. Trying to hang on to them can cost more than you think When you lose a Lot from your Letting Pool don’t be tempted to try to hang on to the forward bookings – you have to act in the best interests of your, soon to be former, client (the lot owner). At the very least, you must ensure that the guests with the forward bookings are aware of the change over in management, so that they can keep their forward booking if they wish. A Noosa Real Estate Agent who failed to do this was recently finedRead More →