The Management Rights Market

Buying Management Rights, Selling Management Rights, market outlook, etc

Contributed By: Nick Buick on

It’s been a HECK of a year for Resort Brokers in 2023. The firm is going from strength to strength with a swag of accolades bestowed upon them at the podium this year. They (Namely, Alex Cook) claimed the ARAMA TOP Award for 2023, in October they were on the stage again claiming THE Award as voted by onsite managers for their 5th year running (an achievement that borders on boring at this point), and last Saturday I was thrilled to see Alex Cook of Resort Brokers take out the REIQ Awards For Excellence. This was indeed an interesting (albeit well deserved) turn-of-events for the ResortRead More →

Contributed By: REIQ on

The Real Estate Institute of Queensland’s (REIQ) latest quarterly Residential Vacancy Rate Report shows most renters have more choice than they had a year ago, despite a slightly tightening market over the September 2023 Quarter. While the state vacancy rate remains ‘tight’ (0 – 2.5%) at 1.0%, reassuringly, in most areas, vacancy rates have not dipped enough to erase the gains made over the past two quarters. The report, released today, covers 50 local government areas (LGAs) and sub regions in Queensland, with figures representing just how few and far between rental listings can be – particularly in regional areas. Of the 50 Queensland regions,Read More →

ResortBrokers has set a new record for a management rights business on the Sunshine Coast with the sale of luxury resort Oceans Mooloolaba Beach for $11.2M. The sale smashes the previous Sunshine Coast management rights record of $8.06M set in February 2022 for the 21-apartment On the Beach in Noosa’s Hastings Street. ResortBrokers’ Sunshine Coast team, Glenn Millar and Chenoa Daniel, settled the sale earlier this week. The off-market deal sees the management rights change hands from vendors Vince and Sue Galle to Prestige Residential, led by Ben Orton, which also operates the management rights to On the Beach and Tingirana in Noosa Heads asRead More →

ResortBrokers Director Alex Cook and Brisbane Broker Jeff Keast recently settled their sale of the management rights of Annexe Apartments for $8.3 million. The sale of the 81-apartment complex in the inner Brisbane suburb of Bowen Hills was the first large, short-let management rights to settle in the Queensland capital since Covid. The sale eclipsed ResortBrokers’ previous post-Covid management rights record of the 46-unit Manor Apartments Hotel in Queen St that sold for $6.3 million. A ResortBrokers Director since 2018, Cook specialises in large management rights transactions nationwide, particularly large, short-stay and off-the-plan developments. His previous landmark management rights deals include the sale of SoulRead More →

Contributed By: REIQ on

The Real Estate Institute of Queensland (REIQ) has long-advocated for all levels of government to work together to do their part to end the housing crisis, and welcomed the renewed and incentivised housing targets set at National Cabinet yesterday. REIQ CEO Antonia Mercorella said it was particularly pleasing to see commitments from the Commonwealth to provide $3 billion in performance-based funding to states and territories that meet their housing targets. “The REIQ welcomes the additional incentive-based payments for states to deliver houses above the previous targets,” Ms Mercorella said. “Whilst the funding is welcome for the additional 200,000 homes above the previous target over theRead More →

The Federal Government’s latest thought bubble to propose national caps on rent increases to once every two years is economic lunacy, according to the Real Estate Institute of Queensland (REIQ). REIQ CEO Antonia Mercorella said it was imperative that state and territory governments weighed up the strain on both sides of the rental ledger and considered the broader economic context at the National Cabinet meeting in Brisbane next week. “We understand the community concern about rents rising at a much faster pace than we have historically experienced,” Ms Mercorella said. “In the decade prior to the pandemic, when we had healthier levels of supply, weRead More →

The Real Estate Institute of Queensland (REIQ) says consecutive lifts in the state’s quarterly residential vacancy rate is a promising sign that rental conditions are improving. The REIQ Residential Vacancy Rate Report for the June 2023 Quarter, released today, covers 50 local government areas (LGAs) and sub regions in Queensland, and comes as the state-wide vacancy rate rose to 1.0% for the first time since December 2021. While the vacancy rate remains ‘tight’ (0 – 2.5%) across the vast majority of Queensland, over the June quarter it relaxed in 38 regions, held steady in three, and tightened in nine. REIQ CEO Antonia Mercorella said theRead More →

Does that bulletin title put the shivers up your spine or what ! The statement is mostly delivered with a feeling of foreboding by someone you love, fear, admire, respect…… whatever. When I hear it from the managing director, I assume a dire transgression and very very unpleasant consequences, even when I can’t recall doing anything wrong. My brain moves immediately to a state of terrified guilt from which I have no chance of countering the discussion to come. And that’s a shame because we really do need to talk. In this age of digital communication, I reckon we’ve lost the ancient art of effectiveRead More →

Think management rights is beyond your financial reach? A syndicate may be your ticket in. Management rights newcomers Craig and Danielle Dunne used a syndicate to enter the industry to operate three of Yeppoon’s best properties. Here’s how they did it. Growing up on a cattle property west of Yeppoon, the idea of operating a management rights business was not on Craig Dunne’s horizon. The 35-year-old became a sparky straight out of school and fell into work as a fly-in-fly-out electrician at mining sites in Queensland. The prospect of running a hotel just wasn’t in his frame. “I had a good trade background but wasRead More →

Common groud. It’s an important area in any strata scheme, and it’s also the most important area in the relationships that decide whether a Management and Letting Rights business can succeed. A community title scheme is like a magnifying glass of society. It can amplify so many of the good things we enjoy – good friends, beautiful views and wonderful communal amenities in locations by the beach or by a golf course that many owners could not enjoy if they were buying a suburban house. But community title strata schemes can also magnify problems, and finding common ground with owners, tenants, and body corporate committeesRead More →