A type of business that began in the popular holiday areas such as the Surfers Paradise, Australia over twenty-five years ago is the Management Rights, are sometimes referred to as the Management and Letting Rights. The developers realized the advantages of having an onsite manager who would look after the day to day running of the complex and also the letting of the units for the absentee owners, as more and more of the residential and also the holiday units, the apartment complexes and the town house/villa developments were particularly built. Now throughout the state of Queensland and New South Wales and in other holiday destinations throughout the world which goes without any doubt, the Management Rights Businesses are firmly established. Similarly management rights finance is also gaining a lot of importance.
The buyer also buys the designated Manager's unit in a complex, when the Management Rights are particularly purchased, there is often an office provided in the complex for the manager as well and it is from here he runs the business in the most convenient way possible. From the Body Corporate, the manager is paid a good salary. The collective body of all the likeminded individuals who own the units in the building is the Body Corporate. To allow for the automatic annual increases, the salary is indexed to the CPI (Cost Price Index).
In return for the salary, in the complex such as the pool, the gardens, the pathways, the tennis courts, the gyms, stairwells, lifts and foyers, the manager also looks after all the major common areas.
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