What are Management Rights?
Are you considering buying management rights but want to understand exactly what you are getting for your money? Are you aware that there are many different types of management rights?
Management Rights is the business of on-site caretaking and letting within a body corporate.
Because there are so many different Management Rights scenarios, it pays to fully comprehend what these entail before considering to buy them.
If you have more questions about Management Rights you may find other video blogs in our series helpful, or you can call us on (07) 5443 9988 or drop us an email enquiry.
Management rights traditionally includes:
- Ownership of real estate in a community title scheme (which usually includes an office or the right to use an office);
- A contract for caretaking of common property in a body corporate ; and
- An authorisation to let lots in the scheme.
There are a number of variations on the above. Some management rights do not include real estate. Some are caretaking or letting only. It is important that you understand what it is that you are buying, before committing to the investment.
Read our web article for more detail.
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