CARETAKING BUSINESS IN MELBOURNE'S SOUTHBANK EARNING $147,000 | Resort Brokers ID : MRC007842
$350,000
Permanent Management Rights, Southbank VIC
Centrally location in vibrant Southbank - Southside Gardens is a fully established caretaking only business representing excellent value and offer strong security of an income for the new manager. The business has no requirement to live on-site, is neatly presented and has no letting component. A great add-on or entry opportunity for a newcomer to the industry!
- Caretaking Only business with annual salary of $147,130 p.a. as of August 2023
- Additional revenue streams from cleaning& window servicing paid from OC twice yearly (not included in income)
- No requirement to own a lot in the scheme or to reside on site
- Current on-site hours are Monday to Friday 7-3pm
- Well maintained complex comprising 91 apartments
- No letting appointments, current owners have not explored this option
- On-site facilities include communal swimming pool, gymnasium and landscaped gardens
- All gardening managed direct by OC, only mowing and trimming required by manager
- Renewed term (Nov 2022) with 8.5 years now remaining on Caretaking Agreement
Date updated: 05 May 2024 23:00:04
More Information
- Total Purchase Price: $350,000
- Net Income: $ 147,130
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 0
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?