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Management Rights Australia
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Management Rights Seminar 9 Feb 2019 - Gold Coast
Join one of our seminars today and let us help guide you through the Management Rights maze. Our seminars will not only give you the tools to move forward confidently they also offer you the professional team of accountants, lawyers and financiers, to help guide you in the right direction. Bookings are essential.

Our seminars are information only, not a sales seminar. They are hosted by a selection of experts with 30 plus years of experience in Management Rights.
#ManagementRightsSeminar
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Management Rights Australia Seminar: 23 Feb 2019 Brisbane

Management Rights Australia (MRA) holds regular information seminars throughout the year for people wishing to buy a management rights business.

Join one of our seminars today and let us help guide you through the Management Rights maze. Bookings are essential.
#ManagementRightsSeminars
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BOOKINGS CANCELLED AS FIRES RAGE

A crisis such as flooding or the recent Queensland bushfires may lead some guests to postpone or cancel their visit. Your rights and obligations in these circumstances will depend on the situation and the lack of a clear cancellation policy and can lead to disputes with guests and unit owners.
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IS COMPANY TITLE MAKING A COMEBACK?
Strata laws were first introduced into New South Wales in 1961.

This legislation, the Conveyancing (Strata Titles) Act 1961, was unique and was later followed by similar legislation in Queensland in 1965 (Building Units Act 1965) and by 1975, all of the other States and Territories in Australia had adopted similar legislation. Other countries such as Canada, New Zealand and South Africa have since adopted similar models.

The strata legislation allowed each unit to have its own title deed so that it could be mortgaged and sold without any consent obtained from third parties. The banking industry loved the concept and strata buildings now provide a significant percentage of all housing in Australia.
#ManagementRightsAustralia
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REAL ESTATE AND THE SALEABILITY OF YOUR RIGHTS

The eastern States have experienced substantial increases in the value of real estate over the last couple of years. This increase in property values, however, is not such a great thing when it comes to selling your management rights.

The value of manager’s residential units in some areas (particularly those close to the beach or in the Sydney area) has increased to such an extent that it is becoming a liability to the saleability of the management rights.
#ManagementRightsExplained
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DROP DEAD DATES

It is critical that you exercise any option in your Caretaking and Letting Agreements strictly in accordance with the terms of the Agreements.

In recent years I have seen a husband and wife, in the later stages of their working life, walk away from what was a good business with next to nothing as a consequence of missing the first option exercise date by 2 days. It was distressing!
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“Developer Larry Kestelman has taken accommodation operator Oaks Hotels and Resorts to the Supreme Court in a $1.4 million dispute over serviced apartment fees.

Sunshine Coast-based Oaks Hotels is a subsidiary of international hospitality chain Minor Hotels and runs an Oaks serviced apartment out of a Kestelman-developed building in Melbourne’s Southbank.

The hotel operator picked up the management rights from multiple individual investors who own apartments in the Opus building at 57 City Road while the building was under development.”
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Duties And Obligations Of Committee Members

Committee members are all volunteers and the vast majority are unpaid.

The strata legislation (and by laws) in each state provides the framework for governance of strata title buildings. Bodies Corporate (or, as they are called in New South Wales, “Owners Corporations”) delegate much of their day-to-day decision-making authority to committees. Read more....
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Some Interesting Strata Statistics!

We all are aware that Governments (both State and local) are pushing people into high-rise living. Population growth in the cities means that more and more high-rise developments are inevitable.

I recently came across interesting statistics relating to strata, which was prepared by the City Futures Research Centre at the University of New South Wales.
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The Deep End of Pooled Letting Pools

We regularly review a variety of letting appointments (the agreement between the building manager acting as letting agent and the owners of the investment units used in a letting pool) and we often find that there is a noticeable gap between what the appointments state versus how they are interpreted.

For the most part the gap can be attributed to overly simplified clauses that do not adequately state the practices that the majority of the industry operates under. In general, these inadequacies are rarely the subject of a legal dispute (when business is good) and so fixing them is often left on the “do it tomorrow” pile. Click link to read more....
#ManagementRightsExplained
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