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Know your options and how to use them

When describing a caretaking or letting agreement, it is quite common for people to describe them by referring to the total time remaining before the agreement expires. Typically this description also includes any option terms available in the agreement, e.g....Read More

Caretaking equipment – It came with the Job

When you buy a Management Rights business, one of the assets you should acquire at the time is all the equipment used by the seller to perform the duties under the caretaking and letting agreements. If the seller was a hands-on building manager, depending on the...Read More

Cancellations – Who gets paid

CANCELLATIONS – WHO GETS PAID? In a post Covid world there appears to be far more inconsistency in the industry when it comes to short-term operators charging cancellation fees when bookings are cancelled. After a couple of years of significant pressure to not...Read More

Cancellations – Who gets paid

In a post Covid world there appears to be far more inconsistency in the industry when it comes to short-term operators charging cancellation fees when bookings are cancelled. After a couple of years of significant pressure to not charge any cancellation fees and...Read More

Preparing your Business for Sale

Selling your business can be very stressful as you juggle the demands of both the business buyer and the owners in your strata scheme, while at the same time being under the time pressure of a looming settlement date. One way you can significantly reduce this stress...Read More

Same, Same but Different – Top Ups and Exercising Options

SAME, SAME – BUT DIFFERENT? TOP UPS AND EXERCISING OPTIONS Tenure is critical to the success and value of your Management Rights business. The length or duration of your agreements is usually called the “term” and your “total term” might be a single period, e.g....Read More

NSW Strata Meetings – How they all Work

There are different kinds of strata meetings in NSW. Annual General Meetings The owners corporation in every strata scheme must hold at least one meeting every year. This is called an annual general meeting (AGM). Owners will discuss finances at AGMs. They will vote...Read More

Exclusive Use and Improvements to Common Property

  If an owner proposes to make an improvement to common property, there are circumstances where the usual improvement approval requirements in the regulation modules will not be enough. Disposition Where an improvement proposed to be made to common property by an...Read More

Bullying orders against Committee

Earlier this year, the Fair Work Commission found that a director and employee of a caretaking company were bullied at work and ordered each member of a body corporate committee, including any new members of that committee in the future, to undergo anti-bullying...Read More