What are management rights?
A management rights business includes three basic elements:
1. The ownership of a lot in a community titles scheme (this usually includes an office, or the right to use an office)
2. The caretaking of common property on behalf of the body corporate (ie gardens, pools, pathways etc)
3. The onsite letting of units in the community titles scheme in which you reside.
People choose to invest in management rights for any number of reasons. These include investment return, lifestyle improvement and the alignment of home and business.
The returns from management rights businesses are very identifiable, which gives many buyers new to the industry peace of mind that cannot be found in many business environments.
The operation of a management rights business can be applied to all styles of property developments - from the traditional unit, townhouse, villa or resort style developments to more recent innovations such as corporate letting, student accommodation and retirement villages.