Caretaking and Letting Agreements
Thinking about buying management rights? You need to understand your responsibilities to the body corporate, especially when maintaining common property. Then there are payments. Who will pay you and how?
When you have management rights, you will most likely need to care for the upkeep of common property which may be lawns, gardens, paths and even pools.
You will need to consult your caretaking agreement, which will detail the specifics of your duties. Normally, you will be paid an annual amount, in monthly installments.
Most of the time, a letting agreement is also a part of management rights. A letting agreement may give you the authority to let within the complex. If this is the case you need to have a resident letting agent licence. Owners can then request and pay for you find them a tenant, but the body corporate itself will not pay you for this service.
Please view our other video blogs on this topic or if you have any questions, please please call us on (07) 5443 9988 or email and enquiry.
View Youtube channel youtube.com/ArgonLawMaroochydore