Management Rights

Motels

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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 →

In: Body Corporate, Legal

Contributed By: Hynes Legal on

Yes, we took that from the Godfather, but why not? It is one of the greatest lines ever delivered in a movie (and credit where it is due to Mario Puzo for writing it in the first place). Anyway, enough pop culture. We don’t need any distractions this early in the new year! We have written about bodies corporate and their obligations to act reasonably over the years and this newsletter is another example of the same principle. It started with 14 owners saying ‘no’ to an application made by our client for the grant of an exclusive use space (which required a resolution withoutRead More →

In: General Interest, The Management Rights Market

Contributed By: Management Rights Sales on

As I tentatively looked into the now famous ‘Crystal Ball’ as I do at the beginning of each year, searching for predictions both negative and positive, my personal life came to the forefront of my vision. I started to wonder what I personally considered to be some of the defining moments of my year, more so than what I achieved professionally. Taking a moment to reflect and extract some wisdom from our experiences in 2015 can assist with setting us up for the year to come. So I ask, what do you consider to be some of the defining moments of the year in yourRead More →

In: Landlords, Tenants, Renting and Management, Legal

Contributed By: Barclay MiS on

We often hear complaints from our clients that when they attend Tribunal and /or Court, that they are not awarded any compensation, for instance, for the time taken to prepare an application to Tribunal/Court, or for the time taken in attendance at the Tribunal/Court. Many Property Managers have stated to us that when at Tribunal/Court they have applied for these items as compensation but it has been rejected. Certainly the management agreement between your agency and the landlord provides that the landlord will be responsible for your professional costs in preparation and attendance at Tribunal/Court, however the fact is that that agreement is between youRead More →

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

If you are reading this chances are you are thinking of buying an accommodation business or you already operate one. For the purposes of what I am going to talk about in this article let’s confine our thoughts to freehold and leasehold motels and caravan parks. The object here is to contemplate the various strategies that are worth thinking about as part of the purchase process. Let’s start with the most common transaction we see and that is the purchase of a leasehold. By far the majority of our clients use a company acting as trustee for a discretionary trust. They do this for aRead More →

In: Accounting and Finance, Motels and Hospitality

Contributed By: BMT Tax Depreciation on

Did you know you could be missing out on thousands of dollars in tax deductions by not taking advantage of your depreciation entitlements? The Australian Taxation Office (ATO) allows the owners of income producing properties to claim depreciation deductions relating to the wear and tear of the building structure and the plant and equipment assets it contains. By claiming depreciation, hotel and motel owners essentially will reduce their taxable income, therefore they will pay less cash. What’s more, the fee to obtain a tax depreciation schedule outlining all of the deductions available to be claimed is 100% tax deductible. You could be missing out on:Read More →

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