Management rights is a type of business where people can have the responsibility to live and take care of a building or townhouse. When a potential client buys management rights, they may live in one of the units or hire a resident manager to provide long-term caretaking services. These include maintaining the exterior landscape or keeping the pool clean at all times. They would likewise take care of the day-to-day operations of the building, as well as provide letting management services when the owner is out or away.
How does the unit manager earn income?
There are two ways a resident manager can earn income — body corporate salary and letting commission income. A body corporate salary means the body corporate pays the manager a salary and monthly arrears to maintain the common property. A letting commission income, on the other hand, means the manager receives income by acting as a letting agent for tenants who want to rent the units. The manager receives a commission from securing good tenants, accounting for the rent and ensuring that the unit is properly taken care of.
How does management rights help boost your business?
Resortbrokers.com.au and other experts noted that a good management rights company has connections with reliable developers and resident managers, so interested clients can find the property that suits their lifestyle and investment performance. If you decide to invest in a property, they can even do promotions not only locally but nationwide. This gives you a better chance of getting your property included in ongoing deals with major travel wholesalers and agents.
With a widespread promotion, the occupancy rate of your property will be high. The result is a better business for your investment. Whether you are planning to buy or sell a property, a reliable management rights company can help maximise the income you can receive without giving too much effort.