Management Rights

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In: Accounting and Finance, General Interest

Contributed By: TheOnsiteManager on

According to consultancy firm Capgemini and Royal Bank of Scotland, Australia has the 4th highest rate of non-cash payments on earth, increasing by 7 percent per year. According to the RBA, the average surcharge for Visa / Master Card is 1.9% and 2.9% for American Express. The implications of this, for a business operating on a 10% margin, are staggering. They’re essentially sacrificing 20-30% of their profit just to receive payment. For a motel operating on a 30% margin it’s around 10%. These costs are often simply accepted as part of doing business, but it’s only going to get worse from here. Seemingly overnight, tap-and-go services have become ubiquitous and withRead More →

In: Landlords, Tenants, Renting and Management

Contributed By: Real Strategix on

Unfortunately, in this day and age, it is almost necessary for an Onsite Manager or leasing consultant to complete a course in self-defence along with their registration. I began asking Onsite Managers if any have had scary encounters whilst at a tenant’s premises.  Statistically speaking, 1 in 5 had some sort of scare.  I personally, have been pushed against a wall, whilst carrying out an exit inspection, by the outgoing tenant.  This drew me to the conclusion to NEVER agree to conduct the inspection with them present. Routine inspections, if carried out correctly, should be fairly straight forward and the tenant should, in most instances,Read More →

In: Legal

Contributed By: Short Punch & Greatorix on

Lawyers acting for buyers of Management Rights are often faced with the task of trying to explain to their clients problems which they may face as a result of badly worded Caretaking and Letting Agreements.  Much of this could be avoided if developers and their advisers took more care in preparing these agreements. Developers have a golden opportunity to set up Management Rights in a way that will not create difficulties for building managers. The developer is in complete control of the Body Corporate at the time the original Caretaking and Letting Agreements are put in place. I have acted for many people buying unitsRead More →

In: Events, General Interest, The Management Rights Market

Contributed By: Think Management Rights on

Interested in management rights? A uniquely attractive business and lifestyle choice for Kiwi’s looking to move to sunny Queensland. Come along to one of our information seminars in Auckland, Dunedin and Christchurch to find out more and be eligible to win 2 nights’ free accommodation at Sandcastles Mooloolaba, and a breakfast for 2 at the famous Mooloolaba Surf Club and $500NZD towards flights. The Management Rights for Kiwi’s Partnership is proud to present its second series of seminars on management rights in Queensland. Expert presenters, speaking in plain English, will help you understand management rights. Our speakers are experienced and respected experts in their fields: Michael Kleinschmidt – Legal Practitioner Director,Read More →

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

In the lead up to the GFC if you were upright and breathing and had a deposit you could borrow money. The banks were very excited about the way things were going and not a lot of attention was paid to the capacity of the borrower to successfully operate the asset being purchased. After all, the economy wasgoing gang busters, the miners were having a great old time, what could possibly go wrong ? My, how things have changed !The past few years have seen a steady tightening of credit policy among the banks with particular focus on new entrants to business with management rightsRead More →

In: Legal, The Management Rights Market

Contributed By: Short Punch & Greatorix on

There are two issues relating to Management Rights sales, which are at the moment causing concern to Buyers and Sellers of Management Rights, and Body Corporate committees, and their legal advisors. Recently there seems to be an upsurge in the number of bodies corporate not approving buyers of Management Rights to take over Caretaking and Letting Agreements. This seems to have coincided with an increase in the number of Asian buyers. Of course, as a result of Australian anti discrimination laws, race, marital status, age, and a number of other factors, cannot be taken into account in making such decisions. In acting for buyers ofRead More →

In: Body Corporate, Landlords, Tenants, Renting and Management, Legal

Contributed By: Hynes Legal on

We are definitely seeing more and more management rights businesses being created without the need to own a piece of real estate with them. This is particularly the case in new off the plan developments. Some of these are large enough to be purely standalone businesses, but most of them in smaller schemes seem to be designed to be able to operate on a standalone basis, but also as a ‘bolt on’ to an existing management rights business. We have written previously about things you need to consider when thinking about separating your management lot from your management rights business here. The key theme thereRead More →

In: Landlords, Tenants, Renting and Management

Contributed By: TheOnsiteManager on

It’s becoming an all-too-frequent occurrence these days that photographers contact us, quite upset, because someone has violated their copyright on images and floor plans in property marketing. When we contact the manager to inform them of the breach, the response is invariably the statement: “but the vendor / owner / previous manager gave those images to me to use!” Unfortunately, this couldn’t be further from the truth and managers are often shocked to discover this. Under copyright law in Australia, copyright exists automatically once an artist creates a work, be it a photo, drawing, video, etc. Copyright grants the original artist the right to reproduce orRead More →

In: Landlords, Tenants, Renting and Management

Contributed By: Property Management Dominance on

Are you overwhelmed by the day to day running of your property management business and looking for a proven streamlined system? ‘Property Management Dominance’ is a simple, effective, practical, easy to implement & most importantly proven property management system put together by an award winning property manager & business owner. Property Management Dominance is a step-by-step guide to the art & business of property management. It is based on almost 20 years of practical experience by an award winning property manager. Most property management systems & training can be over complicated & hard to follow. ‘Property Management Dominance’ is designed to assist the beginner to the most experienced of property professional with easy to follow mapped out procedures.Read More →

In: Accounting and Finance, The Management Rights Market

Contributed By: Mike Phipps Finance on

What exactly am I buying? Purchasing a management rights off the plan simply means that you are agreeing to purchase a management rights business and usually a managers unit at a future time once the project is  complete and individual unit sales have settled. Off plans can be holiday resorts, permanent rental townhouse or unit complexes or short stay corporate properties like hotels and serviced apartments. How do I know what I am buying? The sale of off plan management rights is a highly regimented process and contract conditions are designed to ensure that the buyer is protected. Most importantly the sale will most likely be subject toRead More →

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