Finexia’s quarterly analysis of the market has now been released based on our figures and we see a slight improvement to market conditions with multipliers increasing and total stock value increasing.Read More →
If you came into the business of management and letting rights (MLR) because you saw an attractive balance sheet but have solely focused on the maintenance of gardens and not on the importance of marketing, then you have not set down the road for success. Our business is referred to as ‘Management and Letting Rights’ for a reason. That is the resident manager has a dual role as both a caretaking service provider and an onsite letting agent. This dual role provides an opportunity to market services to a number of different target markets. To define, a target market ‘is a group of existingRead More →
As reported by the Australian Bureau of Statistics, Queensland has seen approximately 14,000 Australians migrate from interstate in the 2nd & 3rd quarter of 2020 and there is no sign of a slowdown in interstate migration to Queensland. The growth in Queensland residents has created a high demand for homes. Either by owner occupiers or by long-term residential tenants. This has driven average weekly rentals and property prices sky high. Low interest rates and the desire for interstate migrants to work from home in Queensland has fuelled emotive buying tactics which put further pressure on the tight rental market. At the height of the pandemic,Read More →
With Spring only a week away, now is the PERFECT time to book your complex in for an external clean during these few quiet weeks before the school holiday rush. Ensure your building is sparkling with resplendence with Complex External Cleaning (CEC). CEC work with onsite managers to deliver professional building and townhouse complex exterior cleaning solutions. As treasurer of a body corporate I’ve recommended Complex External Cleaning to our committee for this task in our building. Our manager got quotes from several companies and CEC offered not only the best price, but also the best service. They can do full building cleans, window cleaning,Read More →
The importance of maintenance for Resident Unit Managers For resident unit managers (RUMs), maintaining a site in good order is just one of the tasks you have on hand, and undoubtedly one of the most important ones. A poorly maintained property can lead to dissatisfied clients, and potentially costly litigation. Let’s take a look at what can happen when maintenance is not carried out to an appropriate standard, and what resident unit managers need to keep in mind when appointing contractors.… Tommy* was a resident unit manager looking after a holiday apartment complex in a popular tourist destination. He received an online booking from Lily*,Read More →
Every so often we experience things that have a huge impact on our lives. 2015 was a year I won’t forget, for two reasons. Firstly, (and, admittedly, most importantly) it was my introduction to motherhood – no amount of study could have prepared me for that! Secondly, when I enthusiastically returned from maternity leave in January 2016, I found my industry had been turned upside down from a surprising tribunal decision that occurred in 2015. Six years later, after I drop my gorgeous son off to school in the morning, I’m back in the office continuing to deal with the aftermath of that pesky “GalleryRead More →
5 Things To Keep In Mind When Working Remotely Over the years, experts have highlighted numerous benefits of working from home – from improved work/life balance; reducing traffic congestion and even helping reduce the cost of office rent. Whatever your reasons are for working from home, or allowing your staff to do so, there are a few boxes you’ll want to make sure you’re ticking to ensure your employees have the best experience, and prepare your business for some additional complexities having a mobile workforce can bring. 1. You’re still responsible for the health & safety of your employees. Your employees may not be inRead More →
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 →
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 →
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