Management Rights is a business that gives the right to the resident owner of a lot, contained within a community living complex, to fulfil the role of Caretaker and to operate a letting business (of units within the complex) on behalf of non-resident owners. The person who owns the Management Rights is usually referred to as the Resident Manager.
Thousands of people choose to become resident managers for numerous reasons. Whether it is a combination of investment return, a combined home and business environment or the lifestyle aspect, it has proven to be a very attractive business proposition.
Having management rights to a property development means you:
Live at the complex
Take care of common property on behalf of the Body Corporate (for example, pool andBBQ area, lawns and gardens)
Let units in the complex on a rental basis. Please note that to be able to operate as a Letting Agent, you will acquire a special licence. (For more information, see the section on “Licensing & Training”)
Depending on the complex, the type of letting will predominately be either:
Permanent (Long Term) Letting or
Holiday (Short Term) Letting
For more information about Management Rights and your responsibilities as a resident manager, please click here to download the PDF version of ARAMA’s Brochure for an explanation of Management Rights, including – “A People Business” and “Resident Manager’s Responsibilities”.