Queensland and NSW's North Coast offer exciting management rights properties

Queensland and NSW's North Coast offer exciting management rights properties
Queensland and NSW's North Coast offer exciting management rights properties

Management rights is a business wherein a resident manager owns a unit in a complex and is involved in the caretaking and letting of strata titled units within that complex for a salary and an agreed time period.

According to industry body Australian Resident Accommodation Managers Association (ARAMA) there are several parts of the business:

•The resident manager owns a unit in the complex as well as owning the business. Hence they have a financial interest in the scheme and they conduct business from the site.

•The resident manager has a written caretaking contract with the body corporate or owners’ corporation to provide caretaking services for the complex for an agreed salary and for an agreed time period.

•The resident manager has a written authorisation from the body corporate or owner’s corporation to operate a letting business onsite for those investor owners who choose to use their services.

•The resident manager has a written appointment from each owner for whom he/she acts, to provide the services of letting agent for the property.

•The Management Rights model can apply to short term letting which includes holiday letting, corporate letting, groups, conferences and also to long term letting which includes student accommodation and residential tenancies.

To illustrate the business, Property Observer focussed on several management rights offers in Queensland and NSW:

Surfers Paradise opportunity

A management rights business has come up for sale for an asking price of $1.45 million, (above) which includes manager’s real estate.

The property is a high-rise holiday building comprising 15 one-bedroom units in the letting pool and comes with long agreements, expiring 2033.

Other features include indoor and outdoor heated pools, sauna and BBQ.

The manager’s residence is a two-bedroom unit.

The property makes a net profit of $219,000.

The building is next to the light rail and near the centre of Surfers Paradise and the beach.

According to the description, the opportunity would suit first time operators. 

The listing agent is Warren Oliver of MRSales.

 Queensland and NSW's North Coast offer exciting management rights properties

Tweed Heads South

Osprey Villas is offering a management rights opportunity in NSW’s Tweed Heads South for offers in the range of $720,000. 

On offer is a 23-plus year caretaking and letting agreement and a business that is profitable, according to the description on www.realcommercial.com.au (above).

The property comprises a four-bedroom, two bathroom managers residence with LUG and private courtyard. 

The property is in a beautiful, peaceful setting adjoining a lovely park and close to beaches. 

According to the description, there is opportunity for growth via securing outside agent appointments.

Experienced managers will be around to assist with training and transmission.

The listing agent is Ian Dore of Resort Brokers Australia

 Queensland and NSW's North Coast offer exciting management rights properties

Main Beach, Gold Coast

A management rights position is available in a prime location in Main Beach (above) on the Gold Coast for a 16-level high-rise comprising 43 apartments. 

It is a caretaking only operation – no trust account, no computer, no licence, according to the description, with income made up predominately of BC salary, with a small amount of additional income (maintenance etc) 

A refurbished three-bedroom, three-bathroom ground floor apartment is available to the caretaker for $1,035,000. 

There is also a letting agreement in place. The building has nine eternally managed units and 17 lock-ups, offering an opportunity to grow the business. 

The listing agent is Alex Cook of Resort Brokers Australia.

Tags: 
Resident Manager Caretakers

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