Management Rights for Sale

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Accom Properties is the newest destination for buying or selling accommodation property and Management Rights in Australia

 

Management Rights For Sale

Management rights is the industry name for a business arrangement between resident managers of strata titled properties (complexes comprised of units owned by different entities) and a property developer or body corporate made up of unit owners.


Two agreements are key to owning management rights:


A ‘caretaking agreement’ permits a manager (or managers, often a couple) to live in one unit onsite and take care of common areas within the complex, such as swimming pools, tennis courts, stairs, the car park, etc. A base salary and list of responsibilities are included in this agreement with the body corporate.


A ‘letting agreement’ with the body corporate gives a resident manager exclusive rights to let out units in the complex on a commission basis. The nature of commission is often negotiated with each unit owner.
Management rights owners always reside onsite but the nature of their accommodation fluctuates depending on the complex. Some properties offer resident managers a one-bedroom unit and office for day-to-day operations; others may offer a luxury penthouse suite and private elevator.


Each management rights agreement is as unique as its property.



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Hotels for Sale


So you want to buy a hotel?


Hotels come in many shapes and sizes from smaller boutique properties to mid-sized B&Bs, larger multi-facility operations and huge, resort-style enterprises. To become a hotel owner is to invest in real estate as well as a business. There are many things to consider when purchasing a hotel investment.


What to consider when buying a hotel property:


Location: if you build it, will they come? Proximity to tourist hotspots, business hubs, hospitals, universities, etc., will influence bookings.


Competition: how many similar properties are in the area? Point-of-difference is a massive marketing tool and as an independent accommodation provider on social media it is much easier to market something that stands out.


Local business: will your guests have things to do? With Google maps on smartphone speed dial, it is easier than ever for potential guests to research local areas. People are more likely to stay somewhere if they spot a couple of interesting cafes, shops or bars within walking distance.


Development: what’s going on in the next few years? In just five years, a whole town or area can completely change. It’s well-worth checking what planning permissions have gone through; ask the locals about development rumours or upcoming upgrades. Find out if any new shopping areas, parks, schools, restaurants, roads, etc., are on the cards. These could all have an impact on future bookings for better or worse.



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Motel for Sale

So you want to buy a motel?

 

Motels are uniquely designed to target motorists and have a distinctively low-rise aesthetic. To purchase a motel outright and operate it yourself, would infer a situation known within the industry as ‘Freehold Going Concern’. This method of motel purchasing was particularly popular prior to the 1980s.

 

Nowadays, in Australia, people can purchase a long-term lease from a motel owner or landlord in a situation referred to as a ‘split’ motel. This motel leasing idea was pioneered in the 1980s by now managing director of Resort Brokers Australia, Ian Crooks.

 

How long is a motel lease?

 

The standard length of a lease in a split motel is approximately 30 years, made up of a ten-year baseline, plus multiple five-year extensions. Similar to a management rights agreement, the leasing party usually lives onsite and takes care of daily motel operations.

 

Who does what?

 

In both motel models, the landlord owner of the property takes care of all structural lot maintenance repairs. In a split motel, the landlord owner also receives annual rent from the leasing party. The rental agreement may include a review clause but usually increases by CPI each year.

 

The leasing party in a split motel runs the business side of things, doing all they can to increase profit-by-occupancy. They pay all operating fees and costs, including utilities. The owner becomes a passive investor in this agreement, responsible only for structural land/property maintenance.



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Caravan Park for Sale

So you want to buy a holiday park / Caravan Park?

 

A holiday park is an umbrella term referring to parks or areas that house caravans, cabins, camp sites and mobile homes for short-term let, permanent use, or a mix of the two.

 

Holiday parks are increasingly innovating and diversifying their space; not just with powered sites, ‘glamping’ rooms and ensuites but with resort-style facilities and varied services.

 

What are the purchasing models?

 

Like motels, holiday parks can be bought outright in an agreement known as ‘Freehold Going Concerns’, or in a ‘Split’ model that involves a long-term managing lease. 

In the freehold model, an owner-operator rules the roost, covering all fees, administration and maintenance as well as marketing, making bookings and keeping all profits.

 

In the split arrangement, it is the leasing party’s responsibility to operate the park, doing all they can to increase profit-by-occupancy, and pay the owner an annual rent. The rental agreement may include a review clause but usually increases by CPI each year. The owner becomes a passive investor in this agreement, responsible only for structural land/property maintenance. 



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Featured Properties

 
 
 

A Standout Business
Exclusive

HERVEY BAY
A Standout Business

$2,050,000
Net Income: $340,000
Managers Estate: $520,000 2 Bed 2 Bath
Letting Pool: 35
Remuneration: $56,000

Australian Resort Management Sales
Vanguard Apartments - Exceptional Management & Associated
Exclusive

MALVERN EAST
Vanguard Apartments - Exceptional Manage...


Net Income: -
Managers Estate: - - Bed - Bath
Letting Pool: -
Remuneration:

RnR Strata

NORFOLK ISLAND
Ready for a Sea Change on a First World...

$1,599,000
Net Income: -
Managers Estate: - - Bed - Bath
Letting Pool: -
Remuneration:

LJ Quintal Real Estate
Iconic Freehold Motel Complex
Exclusive

MACKAY
Iconic Freehold Motel Complex

Freehold $3,400,000 - Ref AFN85
Net Income: -
Managers Estate: - - Bed - Bath
Letting Pool: -
Remuneration:

QTHB

MAROOCHYDORE
Stylish Cotton Tree Management Rights

$1,950,000
Net Income: $315,000
Managers Estate: $600,000 2 Bed 2 Bath
Letting Pool: 45
Remuneration: $54,700

Lindsay Petty Management Rights

MOOLOOLABA
Perfectly Positioned Holiday Management...

Management Rights $1,697,705
Net Income: -
Managers Estate: - - Bed - Bath
Letting Pool: -
Remuneration:

CRE Brokers

Supplier News

 
 
 

FREE 'Management Rights Made Easy' Seminar

by Accom Properties 16th June, 2017

FREE 'Management Rights Made Easy' Seminar Event Date: 19 July 2017 Location: Gold Coast, Qld   When: 5.30pm, Wednesday 19th July 2017   Where: Hirum HQ, 2/8 Technology [...]

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MAHONEYS: Queensland’s leading management rights lawyers

19th May, 2017

With offices in Brisbane and on the Gold Coast, Mahoneys law firm specialises in property, commercial, hospitality, litigation and dispute resolution legal services. A particular area of expertise is [...]

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Tips for selling management rights

by John Mahoney 29th March, 2017

As I have said in previous Resort News articles, and at the risk of stating what to many might seem obvious, the most important piece of advice I can give potential sellers of a management rights busi [...]

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Kirra Surf Apartments’ ideal location overlooks the beautiful golden sands of Kirra Beach on the peaceful southern end of the Gold Coast.   These Coolangatta apartments promise they will [...]

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I see there is a financial institution out there that proposes it’s possible to love a bank.   It’s an interesting premise and given the overuse of the L-word in modern dialogue, I [...]

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Innovative interior design trends for resorts and hotels

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The look and feel for 2017/18 interiors embraces a holistic design solution with deceptively simple sophistication. While providing practical convenience with wow, the pervading ambience is embracing [...]

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