Management Rights and Advisory Service

about-management-rights

What are Management Rights?

Most people would have today heard the expression “Management Rights”.

Management Rights is the name given to a business where a person or company is the onsite Building Manager and Letting Agent for a particular complex comprising a number of individually titled lots or units.

The business involves 2 aspects -
  • The caretaking component - acting as a Caretaker for the Body Corporate to look after the common property of the complex; and
  • The letting component - acting as a Letting Agent for owners who wish to let their units out to members of the public either on a permanent or holiday basis.
The business derives its income from two sources -
  • The salary paid by the Body Corporate for carrying out the caretaking duties; and
  • Letting commissions from rent collected on behalf of unit owners and other charges for the provision of various services to owners and guests.

The income from Management Rights has regular annual increases through adjustments to the Body Corporate salary by way of C.P.I. increases, and also increases in tariffs or rents which in turn increases the Manager’s commission.

About Mahoneys

Mahoneys has an enviable reputation for its service to clients and for the competence of its partners and staff who offer expert services in Management Rights Law, Business and Commercial Law, All aspects of Property Law. One of their major areas of expertise is in the field of management rights.