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In: Accounting and Finance

Contributed By: Mike Phipps Finance on

“It’s the End of the World as We Know It (And I Feel Fine)”R.E.M., 1987 It has come to my attention dear readers that my most popular missives involve tales of travel and preferably unfortunate events befalling me. So, at great personal sacrifice and to get the inspirational juices flowing I have taken myself off to Switzerland. Well, Switzerland, Italy and France to be precise. That my departure from Australia’s fair shores has coincided with our new prime minister realizing he’s inherited one very poisonous chalice brings me no joy. I guess I can take heart from the miracle of internet news which allows me toRead More →

In: Uncategorized

Contributed By: AON Insurance on

If you’re a resident unit manager (RUM) of a property, chances are that you are exposed to a unique set of risks that an insurance policy may be able to assist in managing.  The policy should offer coverage for risks typically faced by professionals in your industry. The three risks resident unit managers are likely to face include the risk of damage or injury to a third party in a common area, the risk of allegations that you did not correctly fulfil your professional services role resulting in a financial loss for a third party, and risks of third-party property damage like fire, water damageRead More →

In: Accounting and Finance

Contributed By: Greg Rankin - Archer Gowland Redshaw on

For Management Rights owners, remaining compliant with governing standards is an essential business and licensing requirement – regardless whether you are a seasoned operator or new to the industry. As operators, your business is required to be audited twice per year in accordance with the Property Occupations Act 2014 and the Agents Financial Administration Act 2014, therefore a lack of systemisation to support this process or failing to identify & rectify mistakes which commonly occur can be a costly & lengthy endeavor. We’ve highlighted some of the common mistakes we come across on Trust Account audits, helping ensure similar issues don’t arise for your business in the future. NotRead More →

In: Uncategorized

Contributed By: Mike Phipps Finance on

“It’s the vibe of it. It’s the constitution. It’s Mabo. It’s justice. It’s law. It’s the vibe and ah, no, that’s it. It’s the vibe. I rest my case”Dennis Denuto, Lawyer for the embattled Kerrigan family.The Castle, 1997 Australian Movie Classic. By the time you read this, dear comrades, we will either have the same government we have today, a new majority labour government or, God help us, a coalition of the mad, the bad, the misguided and the plain crazy. However, the numbers fall we can be sure of one inescapable truth, we live in a world where facts no longer matter and theRead More →

In: ARAMA, Facilities Management

Contributed By: ARAMA on

THE RECENT UNPRECEDENTED FLOODING across Queensland and New South Wales devastated areas of both states. The massive downpours created trauma and turmoil, but at least those properties with a resident manager were in capable hands. Sadly, resident managers have had to become really good at disaster management in recent years. No one knows a building or its occupants better than a resident manager, and they are always on the spot to deal with a crisis immediately. In the last few years, our ARAMA members have had to manage just about every kind of natural and economic disaster. Their effectiveness is one of the reasons thatRead More →

In: Facilities Management, The Management Rights Market

Contributed By: Nick Buick on

Before I was thrust into Management Rights 18 years ago, quite by chance, I owned an apartment that had an onsite manager. The extent of my knowledge was that there was a mysterious old man who somehow ended up living in the office behind the lifts, who seemed obsessed with vacuuming hallways and if you used the spa after closing time, he’d come by and tell you to go to bed. That was all I knew. How this man came to be living in this office behind the lifts, why he was being paid to vacuum things, or by whom, and what higher power hadRead More →

In: The Management Rights Market

Contributed By: FINEXIA Securities on

FINEXIA Securities have analysed our data to release the latest Quarterly Pulse. See below for details. Management Rights For Sale – Market Snapshot – April 2022 Data Provided by TheOnsiteManager website. Management Rights for Sale – Market Analysis – April 2022 Letting Pool Coverage – proportion of the total units to those within the Pool Agreement Coverage – refers to % of total agreement term available upon purchase.Read More →

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

There’s a bloke in France working on an idea to use commercial passenger jet cargo space for paying guests. Apparently if the idea works, passengers will get some sort of view from a converted loading door and the space will be designated as premium. As cargo bays are pressurised there’s plenty of oxygen so all that needs doing in order to be comfy is some form of temperature control. Cargo bays get a bit cold and moist at 30,000 feet I’m told. I had cause to reflect on all of this previously useless information recently, we’ll get to that ! This year marks an importantRead More →

In: Uncategorized

Contributed By: ARAMA on

A frequent issue within Management Rights, and a recurring question that is asked is: How do I stop an outside agent raiding my letting pool for their rent roll? There’s a number of strategies that are very effective for galvanising your complex against attacks from outside agents. This week ARAMA president: Trevor Rawnsley discussed these with Kelly Rigby and Nick Buick – here’s how it went down:Read More →

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