The Concept of Management Rights

We thank you for your inquiry regarding Management Rights and have pleasure in providing you with the following basic information which should give you an understanding of the total concept which is a huge, exciting and profitable industry throughout Australia and particularly Queensland.

Management Rights is an industry that was established over 35 years ago, there are many different types of Management Rights, ranging from large high rise developments to single level or townhouse complexes, with prices from $300,000 up to $5m - obviously the purchase price reflects the value of the Manager's residence and the net income derived from the business.

Remember - Two major requirements to successfully running a building are; CLEANLINESS and PUBLIC RELATIONS; everything else we can, and will assist you with. The majority of our sales staff are either current or former Resident Managers with "hands-on" experience.

Every building has a Body Corporate Committee elected from and by all proprietors (owners) to conduct the smooth running of the building generally together with the care of all common areas. The Resident Manager is approved by the Committee and the terms of an appointment are provided by way of a written Agreement between both parties - this agreement is a most important document and is the "Rule Book" to be adhered to, thereby safeguarding all concerned parties. Obviously to carry out the required duties, the Resident Manager receives a salary from the Body Corporate which is commensurate with the duties required and is a major source of income.

To achieve ease of operation and to obtain the best result for all unit owners, Management Rights has evolved over many years to what it is today and through necessity the correct legislation has developed initially under the umbrella of the Building Units and Group Titles Act 1980-1992 - (commonly referred to as BUGTA). New legislation was introduced in July 1997 and now called the Body Corporate and Community Management Act.

Apart from their responsibilities to the Body Corporate, the Resident Manager has the opportunity to act as Letting Agent within the building for those owners who are desirous of having their unit rented out, and from those lettings comes another substantial source of income.

Conclusion
Conducting Management Rights, or as they are commonly called "A Home with an Income", is no different to running any business that deals with the public and your only true guarantee of success is your performance and personality when dealing with the many different types of people. It is important to build a good reputation for yourself and the building, and strive for repeat and referral business with every satisfied customer becoming your very own "sales agent", which in turn helps to keep occupancy rates to a maximum. The higher the rental income, the more money, not only you make, but so do your owners - a happy owner is a good owner. Unlike most other businesses, the income from Management Rights has regular annual increases through adjustments to the Body Corporate salary by way of C.P.I. or National Wage Case, and also increase in tariffs which in turn increases your commission - remember every dollar increase in your net annual returns can be multiplied by the going rate for re-sale purposes. With the right advice Management Rights can be a wonderful experience for the right people in the right building, so let our expert staff help find the right one for you.

'We are the undisputed sales leader and the largest agency specialising exclusively
in selling Management Rights Businesses throughout Australia'