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What is management rights?
Around fifty years ago, the first management rights (MR) business emerged on the Gold Coast in QLD Australia. Since then, it’s become extremely popular, as it offers the owners of strata buildings (properties that are adjoined, such as apartments or townhouses) great benefits and services.
There are three components to management rights: a manager’s unit, a caretaking agreement and a letting agreement.The onsite manager is also called the resident letting agent and usually owns and lives in the manager’s unit, getting paid a salary to maintain the complex, as well as paid commission to rent out the units. Because they’re not only part owners of the building, but also live and work on the property, the manager is motivated to provide top-notch, value-added services to the body corporate (the collective body of owners within the complex, building owners, residents and guests).
From a business point of view, management rights has a built-in niche, because all the services are located in the one building.
There are three components to management rights: a manager’s unit, a caretaking agreement and a letting agreement.The onsite manager is also called the resident letting agent and usually owns and lives in the manager’s unit, getting paid a salary to maintain the complex, as well as paid commission to rent out the units. Because they’re not only part owners of the building, but also live and work on the property, the manager is motivated to provide top-notch, value-added services to the body corporate (the collective body of owners within the complex, building owners, residents and guests).
From a business point of view, management rights has a built-in niche, because all the services are located in the one building.
How many different types of management rights are there?
SIRE Management Rights mainlysellssix types of management rights, where the duties are specified in the caretaking agreement, and thedifferences are in the letting part of the business:
The best way to understand each style of management rights is to join a SIRE management rights inspection.Please fill in the form on this page to register for an onsite inspection where the SIRE Team and manager will go through all the nuts and bolts with you.
- Permanent management rights
- Holiday management rights
- Mixed management rights
- Student management rights
- Provides accommodation to students. This is for buildings located next to universities and other educational providers.
- Corporate management rights
- Aged care management rights
The best way to understand each style of management rights is to join a SIRE management rights inspection.Please fill in the form on this page to register for an onsite inspection where the SIRE Team and manager will go through all the nuts and bolts with you.
What are the income streams for management rights owners?
There are many sources of income for the management right owner, with the two major ones being thebody corporate salary and letting commissions/fees.
A body corporate salary applies to all different types of management rights. Within the caretaking agreement, there’s a specified annually increasing amount of remuneration for theduties performed to maintain the common area and facilities.
Management rights owners also offer letting services to investor owners. For this they receive a letting fee, which is a one-off payment made at the start of a new tenancy agreement. It usually comes out of the first rent payment and covers the cost of advertising the property and setting up the tenancy agreement with the new tenant.In addition, they receive a letting commission, which is ongoing.
For different typesof management rights, there are many other sources of income, such as providing repair and maintenance services for the owners, cleaning services for the residences and commissions received from touring companies. For strata hotels and motels with restaurants and bars, income can be generated from these sources as well.Over the years,we’ve compiled a list of over twenty ways management rights insiders canincrease their income.
A body corporate salary applies to all different types of management rights. Within the caretaking agreement, there’s a specified annually increasing amount of remuneration for theduties performed to maintain the common area and facilities.
Management rights owners also offer letting services to investor owners. For this they receive a letting fee, which is a one-off payment made at the start of a new tenancy agreement. It usually comes out of the first rent payment and covers the cost of advertising the property and setting up the tenancy agreement with the new tenant.In addition, they receive a letting commission, which is ongoing.
For different typesof management rights, there are many other sources of income, such as providing repair and maintenance services for the owners, cleaning services for the residences and commissions received from touring companies. For strata hotels and motels with restaurants and bars, income can be generated from these sources as well.Over the years,we’ve compiled a list of over twenty ways management rights insiders canincrease their income.
What are some of the reasons people buy management rights?
Here are some of the responses I’ve received when I ask people why they buy management rights:
What they find is that management rights is the only business that ticks all the boxes for them
- I’m planning on having baby this year, and I want to work from home and look after my family.
- I was just made redundant and want to be my own boss this time around.
- I want to work my own hours.
- I need a stable income.
- I want a low-risk business.
- I’d like to invest in something that has an established, time-tested business model
- I’m looking for a business that provides the highest leverage using the bank’smoney.
- I’m interested in a business that’s easy to operate
- I want a business that has a clear, easy and profitable exit strategy
What they find is that management rights is the only business that ticks all the boxes for them
I knew SIRE Management Rights since 2016 and I always receive up to date and useful management rights industry market information from them regularly. I'm seeing more and more sellers are using SIRE Management Rights as their broker. SIRE Management Rights has rich industry experience in management rights and their active and responsible attitude is remarkable.
SIRE Management Rights provides a very efficient communication bridge for buyers and sellers from day one and the exclusive SIRE Body Corporate Interview Training is an extraordinary add-on benefit to buyers and sellers worth to highlight. I would recommend SIRE Management Rights to any management rights manager who is thinking about selling their business.
Sam Huang Director JH Pro Management Pty Ltd
SIRE Management Rights provides a very efficient communication bridge for buyers and sellers from day one and the exclusive SIRE Body Corporate Interview Training is an extraordinary add-on benefit to buyers and sellers worth to highlight. I would recommend SIRE Management Rights to any management rights manager who is thinking about selling their business.
Sam Huang Director JH Pro Management Pty Ltd
我想买一个离家近一点的物业管理，方便照顾生病的父亲和小娃，我朋友Robbie 就介绍了SIRE Management Rights出售的物业。这也是我看过的第一套。
感觉非常专业 值得信赖. 整个购买流程基本不用自己操心，被专业的带着走。从律师到broker和会计一站式搞定。在贷款延期再延期的过程里积极帮助买卖双方沟通协调。非常感谢。
我会介绍我很多想买物业管理权的朋友。因为大多数会来询问我的朋友都是新手新移民，感觉对新环境和职业知道的非常少，需要寻找一个专业敬业的团队来帮助他们。
SIRE的Jessica 是值得信赖和托付的。而且个人比较喜欢工作作风麻溜的专业能力强 像The SIRE Team里的agent。"
Nancy Ni Founder of Ezreal Cleaning Pty Ltd
感觉非常专业 值得信赖. 整个购买流程基本不用自己操心，被专业的带着走。从律师到broker和会计一站式搞定。在贷款延期再延期的过程里积极帮助买卖双方沟通协调。非常感谢。
我会介绍我很多想买物业管理权的朋友。因为大多数会来询问我的朋友都是新手新移民，感觉对新环境和职业知道的非常少，需要寻找一个专业敬业的团队来帮助他们。
SIRE的Jessica 是值得信赖和托付的。而且个人比较喜欢工作作风麻溜的专业能力强 像The SIRE Team里的agent。"
Nancy Ni Founder of Ezreal Cleaning Pty Ltd
It is my great pleasure to get to know Jessica and the SIRE Team. I purchased my first management rights with Jessica and The SIRE Team’s assistance. I first come to SIRE Management Rights through a listing on the internet. I am relatively new to this industry and Jessica has been greatly helpful and enthusiastic in providing all tips and answered all my questions that I have. I definitely found the information provided by Jessica truly helpful.
Furthermore, upon signing the contract, Jessica provided all the relevant information leading to a smooth transition of the contract to the final settlement related to legal, finance and licensing.
I would highly recommend SIRE Management Rights to anyone who is interested in having a future career in the management rights and accommodation industry.
Charles Chiu Founder of Neon Life Pty Ltd
Furthermore, upon signing the contract, Jessica provided all the relevant information leading to a smooth transition of the contract to the final settlement related to legal, finance and licensing.
I would highly recommend SIRE Management Rights to anyone who is interested in having a future career in the management rights and accommodation industry.
Charles Chiu Founder of Neon Life Pty Ltd
I found Jessica and The SIRE Team worked hard to make the whole purchasing process simple and easy to follow. The SIRE Team supported both parties to understand specific industry requirements every step of the way and they always came up with win-win solutions. It was a real big bonus that Jessica and SIRE Management Rights goes the extra mile providing first class, practical, up to date training to cover the operational side of management rights after settlement.
Thanks Jessica and SIRE Management Rights for looking after the whole process. When it’s time to sell in the future, we will definitely engage Jessica and SIRE Management Rights. SIRE Management Rights will be on the top of my list to recommend to anyone who would like buy or sell management rights.
Mark Chiu Director CSK Management Pty Ltd
Thanks Jessica and SIRE Management Rights for looking after the whole process. When it’s time to sell in the future, we will definitely engage Jessica and SIRE Management Rights. SIRE Management Rights will be on the top of my list to recommend to anyone who would like buy or sell management rights.
Mark Chiu Director CSK Management Pty Ltd
"I met Jess and Richard few years ago when I bought the first MR business. They are trust-able and warm-hearted persons. Not like any other agents, Jess and Richard do not make up story or push the buyer, but substantially trying to help every single customer
on the basis of fairness and honesty. That is the main reason that I chose them to be my second MR business purchasing agent.
Be frank, a large number of attractive listings is another important reason for me choosing Synergy International Management Rights - SIRE Management Rights. Buyers also wish to purchase a perfect business, but nothing is perfect. Therefore, we have to pick a
'best' one from a number of choices. The more choices we have the greater chance we do not miss a decent business.
Personally, I would recommend SIRE to newbies, who do not have much experience and knowledge regarding the MR business purchasing and operating. SIRE has been in MR buying and selling industry for many years, they clearly know what a buyer needs, their experienced member
of staff will assist a buyer from the day one all the way smoothly through the post settlement. I would say, it is better to contact The SIRE Team, try yourself and experience the SIRE difference."
Chris Li Founder and Director of CJE Pty Ltd QLD
on the basis of fairness and honesty. That is the main reason that I chose them to be my second MR business purchasing agent.
Be frank, a large number of attractive listings is another important reason for me choosing Synergy International Management Rights - SIRE Management Rights. Buyers also wish to purchase a perfect business, but nothing is perfect. Therefore, we have to pick a
'best' one from a number of choices. The more choices we have the greater chance we do not miss a decent business.
Personally, I would recommend SIRE to newbies, who do not have much experience and knowledge regarding the MR business purchasing and operating. SIRE has been in MR buying and selling industry for many years, they clearly know what a buyer needs, their experienced member
of staff will assist a buyer from the day one all the way smoothly through the post settlement. I would say, it is better to contact The SIRE Team, try yourself and experience the SIRE difference."
Chris Li Founder and Director of CJE Pty Ltd QLD
This is my first time buying management rights, Richard and The SIRE Team gave me great confidence to enter this business and the industry. I was really concerned about my lake of experience in this industry, Richard and The SIRE Team gave me good support from day one. Another great benefit to me as a buyer is that SIRE Management Rights always have better listings than other agents.
I appreciate the SIRE Team’s professionalism, comprehensive and thorough advice.
I am happy to recommend you to any other perspective buyers who are looking get in to this industry. Also anyone who wants to sell their management rights.
Wei Zhang Founder and Director of W&Y Property Management Pty Ltd QLD
我是通过朋友介绍，找到Jessica，寻找物业管理权项目。之前断断续续看过一些，说不上很吸引人的个案，就放下了。而Jessica自身拥有丰富销售和物业经营管理经验，她会先尽量了解我的需要，匹配并坚持介绍给我，言辞充满信心。物业管理权的购买耗时长，环节多，Jessica更是衔接所有流程，有效把控时间，尤其是最后面试环节，拥有一套专业严谨的培训模块，现场准备充分，涵盖自我介绍重点，一般提问到突发状况应对。不仅能够帮助新手全面了解实际场面，更是为接手项目以后的操作铺垫基础。
非常感谢Jessica运作自如的整体帮助，希望更多买卖双方能够从中受益，并祝Jessica事业蒸蒸日上。
Hong Chen Founder of RH&L Pty Ltd QLD
I have very specific requirements for the type of management rights I am looking for and The SIRE Team found the one that meets my requirements.
As a starter of Management Rights, I learnt a lot about the management rights business and the industry from The SIRE Team.
The SIRE Team is always open to client's suggestions and adapt quickly to satisfy client's needs. For example, I recommended to specify the area of advertised management rights, The SIRE Team’s advertisements are very attention grabbing and got my attention.
I have introduced Jessica and The SIRE Team to my friends who might be potential buyers.
Gina Wei Director of SGREALTY PTY LTD QLD
As a starter of Management Rights, I learnt a lot about the management rights business and the industry from The SIRE Team.
The SIRE Team is always open to client's suggestions and adapt quickly to satisfy client's needs. For example, I recommended to specify the area of advertised management rights, The SIRE Team’s advertisements are very attention grabbing and got my attention.
I have introduced Jessica and The SIRE Team to my friends who might be potential buyers.
Gina Wei Director of SGREALTY PTY LTD QLD
