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Search results for “Buying Management Rights in NSW - part I”

You are browsing the search results for “Buying Management Rights in NSW – part I”

In: Legal

Contributed By: Vanessa Sciortino of Quartz Legal on

Unlike other conveyancing transactions, management rights matters have more parties than people realise and can often cause confusion about: It is a pretty important paradigm to understand and one that is often misunderstood, even by experienced advisers. Let’s take a look… 1. Who is who? (a) The Seller This can either be a developer (if buying off the plan) or the owner of a business. Where there is a unit associated with the business, depending on how the agreements are structured, there may be: (b) Selling Agent/Broker This is the licensed real estate agent appointed by the seller to sell their business. There are agentsRead More →

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

As I contemplate an attempt to make some sense in this article there’s an old English expression thatsprings to mind.“May you live in interesting times” is claimed to be a translation of a traditional Chinese curse. Whileseemingly a blessing, the expression is normally used ironically; life is better in “uninteresting times” thanin “interesting” ones, which are usually times of trouble. Talk about ironic alright.Anyway, I digress.Rather than write my usual meandering stream of consciousness I’ve decided to cut to the chase andoutline some specific thoughts that might hopefully assist buyers to navigate a management rightspurchase in a world of apparent uncertainty.The Fundamentals Have Not ChangedWhileRead More →

In: Accounting and Finance, Body Corporate, Legal, The Management Rights Market

Contributed By: Hynes Legal on

Back when real estate wasn’t as expensive, multipliers weren’t as high and banks didn’t care as much about serviceability as they did security, buying a lot with a business all worked without much of an issue. That has changed (noticeably for high value real estate with shorter term management rights agreements), which has led to us receiving lots of requests from clients about separating their lot from their management rights business.  Every management rights business is different. There are no hard and fast rules, but in general terms, these are the issues that come if you want to consider doing breaking that link. Let’s startRead More →

In: Accounting and Finance, The Management Rights Market

Contributed By: Mike Phipps Finance on

What exactly am I buying? Purchasing a management rights off the plan simply means that you are agreeing to purchase a management rights business and usually a managers unit at a future time once the project is  complete and individual unit sales have settled. Off plans can be holiday resorts, permanent rental townhouse or unit complexes or short stay corporate properties like hotels and serviced apartments. How do I know what I am buying? The sale of off plan management rights is a highly regimented process and contract conditions are designed to ensure that the buyer is protected. Most importantly the sale will most likely be subject toRead More →

In: The Management Rights Market

Contributed By: Greg Jorgensen of Management Rights Brokers on

Starting July 2020, in the post Brisbane and SEQ lockdown, we as a population, couldn’t wait to travel.   And…. this need-to-travel remains! Short stay operators, on the average, had a rough time of it from March to June last year, with the majority forced to switch rooms from short to long stay.  There was simply little choice. Of course, this saw the business bottom lines deflate both significantly and rapidly – mostly within the month of March.  Beware the Ides of March as they say! However, that determined need-to-travel-anywhere has seen almost every operator who has reverted partially or wholly back to short stay,Read More →

In: Motels and Hospitality

Contributed By: Chris Rowe, Accommodation Business Brokers on

This wide brown land is full of stunning vistas and incredible experiences. It’s no wonder Australians, and overseas visitors are so keen to explore our great in-lands not just cities and coastline. Tourism is listed as one of Australia’s top-tier industries of the future. With the Australian Bureau of Statistics showing that regional Australia currently claims 45 percent of ‘visitor nights’ and 44 percent of traveller spending money, there’s plenty of opportunity for accommodation businesses and in particular Motel owners. Why buy a Motel? If you’re new to the hospitality industry, a Motel can be an excellent first business. Like any accommodation business, running your own MotelRead More →

In: Accounting and Finance, General Interest, The Management Rights Market

Contributed By: PCS Finance on

As a Finance Broker we sometimes are asked why do we get paid a commission from the bank and why would I go to a broker when I can source finance myself. I want to dismiss some of the myths around engaging a Finance Broker and explain what the positives are in engaging a reputable Finance Broking company. I suppose it’s a bit like Management Rights where the onsite Manager is paid an income to do a job. If you fulfil this role in a professional manner and educate your owners along the way, why would an owner go to someone else to manage theirRead More →

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