Search results for “Be careful where you get advice”

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Contributed By: Wesley Venz of Venz Management Rights Buyers Agency on

Ten years of experience, or one year of experience ten times over? While many people claim to be experts or specialists in their chosen profession, how can you know if they really are? Maybe they have been doing the same job year after year, but have not become any more knowledgeable or accomplished than when they first started. There is competition in every industry, but there has never been more than there is now in management rights. Currently listed on the service directory of on-site manager, there are 51 law firms, 33 accountancy practices, 23 financial institutions, and 59 real estate agencies. How many individualsRead More →

Contributed By: TheOnsiteManager.com.au on

Some strata communities – formerly known as Body Corporates – aren’t liable to pay tax. However, this is not applicable to all stratas, and wrongly assuming you are exempt from paying tax can lead to fines and even court proceedings. It’s important to get in the know about strata communities and tax liabilities so you can gauge whether or not you are liable. If you need more information or one-on-one advice about your own situation, it may be worth speaking to a strata specialist with corporate tax knowledge, such as the team at Abacus Strata. Here’s a quick overview of strata related Tax to helpRead More →

Contributed By: Short Punch & Greatorix on

Even a casual observer of the Industrial Law landscape in the post-Work Choices era, will recognise the diversity of employment options that now prevail in modern workplaces. Part of this has been a consequence of the increasing casualisation of the Australian workforce.  This was seen by the Fair Work Commission as a necessary counter-balance to the rights of workers that were gradually being eroded through the trend of casualisation. However, the modern Industrial Law landscape has nevertheless provided certain benefits for employees, through the Modern Award system, and through the evolution of the National Employment Standards (NES). Modern Awards contain a generic or template AwardRead More →

Airbnb is never far from the headlines, and many industry segments are clamouring for regulation. In June 2018 the NSW government announced severe restrictions on short stay accommodation. It remains to be seen how that will work in practice, and how Queensland will implement our own version. Hopefully the legislative response will be informed by the lessons learned from the regulation of ride sharing services such as Uber. Industry Concerns Body Corporates, owners, and on-site managers are justifiably concerned about the rising popularity of home sharing services, and other online accommodation booking platforms, for properties within Community Title Schemes. Naturally, I can’t condone “self-help” remediesRead More →

Contributed By: Holmans Accounting on

One of the most hotly debated and often misunderstood concepts when determining the profitability of an accommodation business is the concept of ‘maintainable income’. The concept of ‘future maintainable earnings’ is a longstanding valuation principle, and possibly the most commonly used method of valuing an accommodation business is the capitalisation of the maintainable earnings of the business. In a management rights context, the capitalisation rate is referred to as the ‘multiple’, whereas in other accommodation businesses it is generally expressed as the return on investment percentage or ‘capitalisation rate’. Determining the multiple or capitalisation rate is very much the domain of the valuers and agentsRead More →

Whether it is routine maintenance, emergency repairs, lease renewals or property vacancies, you will always have the landlord asking you to explain the necessity and costs involved. Property Management over the last decade has become much harder, and time consuming, as legislation has changed and people are taking others to tribunal over the smallest of things. The first lease I prepared was in 1997. It was typed on a typewriter with carbon copies, and there was no such thing as inventories, CMA’s or online bookings. If someone had told me that in 18 years’ time that we would be arranging smoke alarms to be checked for every new lease IRead More →