A ‘management rights’ business most commonly refers to the combined business of providing caretaking and letting agent services for a body corporate complex. Usually, a management rights business will include:
- The right to provide caretaking services, for which the manager is paid a salary by the body corporate;
- The right to provide onsite letting services, for which the manager earns a commission or charges a fee from individual lot owners who engage the manager’s services; and
- An onsite letting office, or caretaker’s unit.
Management rights businesses are a popular investment as they can allow an investor to combine a home and an income, as well as investing in a saleable business.
The purchase and sale of Management Rights in Queensland can often be a complex area of the law, requiring compliance with a range of legislation that is often confusing for many people.
Our team has acted for clients who have bought and sold Management Rights throughout the state and interstate as well. We also act for developers in preparing the initial management rights documents as part of a unit development, including very large accommodation providers. We handle all aspects of a management rights transaction and often other areas such as liquor licensing, leasing, the sale of real property and employment law must be considered in the transaction.
Our legal team have in-depth experience dealing with management rights including:
- Off the Plan Management Rights Businesses
- Sale and Purchase of Managements Rights, including of onsite letting/caretaking units or areas
- Breach notices
- Changing Your Management Rights Agreements, or renewing agreements
- GST, stamp duty and taxation
- Comprehensive legal due diligence reports
- Advice and preparation of letting appointments and leasebacks
- Dispute Resolution
- Licencing Advice
- Partnership Agreements
- Workplace Relations, Health & Safety
We are focused on making the process as smooth as possible and will provide a fixed fee quote.