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NO REQUIREMENT TO LIVE ONSITE - QUALITY APARTMENTS
$1,135,000
Permanent Management Rights, HELENSVALE QLD
We have the pleasure of offering this attractive residential Management Rights business to the market.
Body Corporate Salary of $98,000 plus GST, increasing by CPI yearly. Caretaking salary represents over three quarters of total net income with the opportunity for motivated incoming manager to bring up to 15 outside agents onsite rentals into the letting pool. Plenty of upside for a significant boost in net income here!
This is a straightforward to business, with sole operator currently managing both caretaking and letting duties.
Residents benefit by being only a ten-minute stroll to Westfield Helensvale, train and tram station. This is an awesome location, where a car is not essential. Other features of this offering include:
Onsite swimming pool & BBQ facilities
Secure parking space and storage in basement
Catchment areas of Helensvale Primary School and Helensvale State High
Manager's apartment is a modern 2-bedroom, 2-bathroom, 1-car residence. Presently this apartment is leased out at approximately $28,600 p.a. This income is in addition to that shown as business net profit.
More Information
- Total Purchase Price: $1,135,000
- Net Income: $ 127,853
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 560,000
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?