Manager’s Residence:
Large House + Office + Granny Flat
Downstairs Unit can be let out privately for approximately $17,000 a year.
5 Bedrooms / 3 Bathrooms /2 lounges / 2 Kitchens / Office
Upstairs- 3 bedrooms plus Office / 2 bathrooms
Downstairs:Self-contained air-conditioned Unit: 2 Bedrooms/1 Bathroom /kitchen/laundry with own courtyard
Features:
Large Private Secluded Residence
Elevated Majestic Views to Surfers Paradise
Whisper quiet 24/7
No immediate neighbours
Garage Parking for 1 car (Automatic Door Opener)
Off-Street Private Parking for 6 Additional Cars
Storage in Garage plus 3 storage areas/sheds
Ducted Air-conditioningupstairs in 2 zones (Lounge /Dining/Office and 3 bedrooms). Split System downstairs.
5 Ceiling Fans
Solar Power
Solar Hot Water Heating
4 Minutes to Beach/The Pines Shopping Centre/Both Motorways
Nestled in bush surrounding complete with wallabies/koalas & birdlife
Very Low Body Corp ($59 a week) Because a lot of our land, which is completely private & around our house,(so inaccessible to no one else) has been deemed common land, our entitlement is low & Body Corp levies are low for the big site we have.
Council Rates Annual $1420
Water Rates Annual $ 1340
Business:(All Town Houses Permanent Lets)
1/. 25 Years remaining on contract. (10 August 2040)
2/. Composition:
60 Two Bedroom Units (54 Units/1 Bathroom/Double Garage and 6
Units have Study (2 Bathrooms/ Single Garage)
40 Three Bedroom Units (2 Bathroom/Single Garage)
3/. Leases are written every 6 months.
4/. No Body Corp issues ever. There has never been any need for a committee meetings in our 9 years here. Just the AGM once a year, with no motions apart from the usual. (See minutes)
5/. Sinking Fund healthy. Nothing needing doing in future. Straightforward freestanding buildings/land. No lifts. Currently $143,000.
6/. No employees.
7/. Consistently high occupancy rates. Huge demand for Units here given their size & location &private surroundings.
8/ No set office hours in agreement. See: Schedule 1: General Duties & Obligations: (s) The Manager shall attend at or staff office area or be available in the Manager’s Lot or on site or be elsewhere contactable by mobile phone Monday, Wednesday, Thursday and Friday 8.30 am – 5.30 pm and Saturday 8.30 am to 1.00 pm.)
9/. Handful of owners in complex all very happy to have managers.
10/. High percent of owners are original owners from 19 years ago. (33 Units in Letting Pool) So those ownershave very low mortgages (if any). So they are happy with returns and don’t quibble about maintenance costs.
11/. Manager can have pet with Body Corporate Approval. (No other pets allowed)
12/. Very respectful quiet top class tenants. (Application requires signature verifying they are wanting a quiet complex.) No crime in 9 years here.
13/. Management Rights are valued on these things: Every one of them is 10/10 here:
High Earner/Percentage of house to Cost /Quality,Privacy,Size of Manager’s Residence/ Location/Management Years to run on Contract/Body Corp Committee Relations/ Vacancy Rates/ Additional Income from Body Corp/ Over 90% of sales have always resold to Investors/ Attractive Complex/ Good tenants.
Maintenance:
These are standard regular costs:
Blinds(weights/chain/blades)
Insect Mesh (It's on all windows & sliders)
Tap washers Repair Leaking Toilet (Install new fluidmaster)
Re-Whiten shower grout
Paint decks
Patch Painting inside & out
Shower Heads
Door Handles
Meltecca iron-on strips kitchen cupboards
Silicon kitchen bench/Vanities/bath
Rollers on shower doors
Light shades
Toilet Seats
Fix clotheslines
Clear weep holes
Poison weeds
Front door entrance lock
Silicon or replace cracked roof tiles
Cracked tap tops
The maintenance component is only a small one, contributing just $19,000 to income. (This is what the current manager paid for & had verified in 2006.) The managers do all the carpet cleaning with our own machine which brings in approx $300 a month so $3600 a year. Adding on material costs it means $27,000 a year plus GST. Minus carpet cleaning total leaves $23,400 to be paid by owners. Divided by 88 it is $265.00. An annual pest spray is $57.20. Smoke alarm batteries are $15. So each Unit only needs to pay say $193 annually.
Large House + Office + Granny Flat
Downstairs Unit can be let out privately for approximately $17,000 a year.
5 Bedrooms / 3 Bathrooms /2 lounges / 2 Kitchens / Office
Upstairs- 3 bedrooms plus Office / 2 bathrooms
Downstairs:Self-contained air-conditioned Unit: 2 Bedrooms/1 Bathroom /kitchen/laundry with own courtyard
Features:
Large Private Secluded Residence
Elevated Majestic Views to Surfers Paradise
Whisper quiet 24/7
No immediate neighbours
Garage Parking for 1 car (Automatic Door Opener)
Off-Street Private Parking for 6 Additional Cars
Storage in Garage plus 3 storage areas/sheds
Ducted Air-conditioningupstairs in 2 zones (Lounge /Dining/Office and 3 bedrooms). Split System downstairs.
5 Ceiling Fans
Solar Power
Solar Hot Water Heating
4 Minutes to Beach/The Pines Shopping Centre/Both Motorways
Nestled in bush surrounding complete with wallabies/koalas & birdlife
Very Low Body Corp ($59 a week) Because a lot of our land, which is completely private & around our house,(so inaccessible to no one else) has been deemed common land, our entitlement is low & Body Corp levies are low for the big site we have.
Council Rates Annual $1420
Water Rates Annual $ 1340
Business:(All Town Houses Permanent Lets)
1/. 25 Years remaining on contract. (10 August 2040)
2/. Composition:
60 Two Bedroom Units (54 Units/1 Bathroom/Double Garage and 6
Units have Study (2 Bathrooms/ Single Garage)
40 Three Bedroom Units (2 Bathroom/Single Garage)
3/. Leases are written every 6 months.
4/. No Body Corp issues ever. There has never been any need for a committee meetings in our 9 years here. Just the AGM once a year, with no motions apart from the usual. (See minutes)
5/. Sinking Fund healthy. Nothing needing doing in future. Straightforward freestanding buildings/land. No lifts. Currently $143,000.
6/. No employees.
7/. Consistently high occupancy rates. Huge demand for Units here given their size & location &private surroundings.
8/ No set office hours in agreement. See: Schedule 1: General Duties & Obligations: (s) The Manager shall attend at or staff office area or be available in the Manager’s Lot or on site or be elsewhere contactable by mobile phone Monday, Wednesday, Thursday and Friday 8.30 am – 5.30 pm and Saturday 8.30 am to 1.00 pm.)
9/. Handful of owners in complex all very happy to have managers.
10/. High percent of owners are original owners from 19 years ago. (33 Units in Letting Pool) So those ownershave very low mortgages (if any). So they are happy with returns and don’t quibble about maintenance costs.
11/. Manager can have pet with Body Corporate Approval. (No other pets allowed)
12/. Very respectful quiet top class tenants. (Application requires signature verifying they are wanting a quiet complex.) No crime in 9 years here.
13/. Management Rights are valued on these things: Every one of them is 10/10 here:
High Earner/Percentage of house to Cost /Quality,Privacy,Size of Manager’s Residence/ Location/Management Years to run on Contract/Body Corp Committee Relations/ Vacancy Rates/ Additional Income from Body Corp/ Over 90% of sales have always resold to Investors/ Attractive Complex/ Good tenants.
Maintenance:
These are standard regular costs:
Blinds(weights/chain/blades)
Insect Mesh (It's on all windows & sliders)
Tap washers Repair Leaking Toilet (Install new fluidmaster)
Re-Whiten shower grout
Paint decks
Patch Painting inside & out
Shower Heads
Door Handles
Meltecca iron-on strips kitchen cupboards
Silicon kitchen bench/Vanities/bath
Rollers on shower doors
Light shades
Toilet Seats
Fix clotheslines
Clear weep holes
Poison weeds
Front door entrance lock
Silicon or replace cracked roof tiles
Cracked tap tops
The maintenance component is only a small one, contributing just $19,000 to income. (This is what the current manager paid for & had verified in 2006.) The managers do all the carpet cleaning with our own machine which brings in approx $300 a month so $3600 a year. Adding on material costs it means $27,000 a year plus GST. Minus carpet cleaning total leaves $23,400 to be paid by owners. Divided by 88 it is $265.00. An annual pest spray is $57.20. Smoke alarm batteries are $15. So each Unit only needs to pay say $193 annually.
