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Annual Net Income $420,000, 25-Year Contract, Rent or Buy Unit as caretaker Unit
$2.15M or $2.88M or $3.08M
Permanent management rights, Buderim QLD
- 25-Year Term: The community successfully topped up the agreement to 25 years this year.
- Income Details:
Body Corporate salary income: $183,700, increasing annually in line with CPI.
Letting pool management income: $235,700.
Annual net profit: $420,000.
- Flexible Requirements:
No live-on-site requirement.
No office hours.
No gated entry or CCTV installed in the community.
- Prime Location:
Conveniently located near shopping areas, schools, and public transport.
Zero vacancy rate within the community.
- Managers Residence Flexibility:
The by-laws and caretaking agreement do not specify a fixed managers residence. Any townhouse within the community can be purchased as the manager's residence.
Caretaking Agreement provides two options : rent or own any unit within the complex as caretaker unit (The Service contractor must, or if it is a company it, or its Related person, must own, or otherwise have the right to occupy the Service Contractor's Lot )
Current market price for 3/4-bedroom townhouses: $650,000 - $850,000.
- Current Managers Residence:
Features 4 bedrooms, 2 bathrooms, a double garage, and an office.
Currently rented out, generating an additional rental income of approximately $39,000 annually (not included in the profit calculation).
- Business Details:
Business multiplier: 5.3.
Business price: $2.23 million.
Managers residence price: $650,000 - $850,000.
Total price: $2.15 million or $288 or $3.08 million.
DISCLAIMER
The agent gives notice that:
1. The figures and information disclosed in this Information Memorandum are provided by the vendor. All intending purchasers are to make their own enquiries and assessments as to the accuracy or otherwise of the information supplied by the vendor.
2. It must be noticed that agent has no access to full sets of accounts or legal documentation for verification purposes. No liability for the information will be accepted by the agent and parties should make their own investigations as to the accuracy of these figures and information.
More Information
- Total Purchase Price: $2.15M or $2.88M or $3.08M
- Net Income: $ 420,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 850,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: undisclosed
Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Required Office Hours
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?