“Management Rights” is the on-site management business of an apartment building or unit complex.
PCS Finance provides innovative finance solutions for the Management Rights industry to benefit purchasers and investors, including:-
- understand your financial capacity when purchasing a Management Rights business
- negotiate the most appropriate finance solution for your Management Rights purchase and look after all of your lending needs (at no cost to you)
- partner with specialists to set up your Management Rights business loan and structure
- form a Management Rights partnership and find a working or silent partner
- respond to purchasing opportunities with responsive and personal service
Holiday, permanent, corporate or student accommodation
Secondly, you need to decide whether you are interested in managing a:-
- holiday apartment letting out short to medium stays
- permanent complex with units or townhouses with longer term stays
- corporate complex with short to medium type serviced apartments for business visitors
- student complex where typically rooms or complete apartments may be leased out for longer term stays
Firstly it is important for you to understand where you would like to live and whether CBD, Coastal or living in the suburbs are important to you. This decision can be made based on the amount you want to invest and also the type of lifestyle you want to lead.
Balance between lifestyle and income
To find the right property for you to invest in, it is important to understand the balance between where you want to live and what income you expect from the business.
Some people will have the goal to maximise income while some people will place priority on the standard of living in the managers’ apartment.
Of course you can achieve a high standard of both lifestyle and income but the premium properties that do offer this sell quickly. Therefore, it’s important to place yourself in a strong buying position with finance organised prior to finding the perfect property.
Place high importance on your own research by looking at many properties to understand the type of property that you are interested in.
- Owner Operator
- Working Partner / silent partner
- Public Company
Running the business
This involves the management of a letting pool of apartments in the complex on behalf of the lot owners. The individual apartment owners will pay commission and management fees for you to secure tenants/guests, collect rent and ensure the property is kept in good condition. The letting pool excludes live-in owners or owners who want to leave the apartment untenanted(otherwise known as 'lock-ups').
You may own an apartment in the building known as the “Managers’ Unit”, usually this incorporates an office and reception area. Some Management Rights do not have a Manager's unit or office to purchase.
Body Corporate Salary
As Manager of the apartment complex, you will receive a monthly salary to be the caretaker and maintain the common areas. The salary is dependent on the type and size of the complex but a guide range is $1000-$1700 per lot per annum.
The individual apartment owners will pay a commission and management fee for managing the letting of their properties, collecting and accounting for the rent and ensuring their property is kept in good condition. The average commission rates are 12%+GST for holiday apartments and 8.00%+GST for permanent letting.
As the onsite manager, you may have the opportunity to earn additional income through cleaning charges, linen hire, tour bookings and equipment hire (such as cots, DVDs, surfboards, cars, etc), repairs and maintenance, lawn mowing, general duties.
Why Is PCS Finance The Market Leader
- Management Rights Finance specialists
- Sophisticated partnership structures (matching working and silent partners)
- Multiple office locations for your convenience
- Directors own management rights themselves
- Excellent relationships with management and letting rights lenders
- Corporate strategies for MLR operators
- Consistent high rate of finance approvals
I would like to thank PCS Finance for their outstanding professionalism and support throughout the process of applying for, and attainment of finance for my recent purchase. I highly recommend your services and look forward to an ongoing professional relationship.
The service provided by PCS Finance is outstanding. We have used them since we began in Management Rights 12 years ago and continue to seek advice on finance whenever it is needed. We would not hesitate to recommend them at any time.
We have been operating Management Rights businesses for more than 11 years now and have used the services of PCS Finance each time we bought a new business. Damien Windle has always been our one-stop advisor on business loans. Damien and his team are very professional, responsive and a pleasure to deal with. We would not consider anyone else for our financing needs.
I have worked with the team at PCS Finance on two occasions. One to buy my first Management Rights business and the second to expand. The PCS team have been a pleasure to deal with on each of these occasions with a mentality to help overcome problems that may have otherwise brought an end to the purchase. Additionally, the contacts that PCS have within the industry make transactions progress in a timely and professional manner.
The team from PCS Finance have been amazing from when we purchased our first Management and Letting Rights in November 2015. Very patient, helpful, prompt and always come up with the right solutions. We are still in contact with them on a regular basis. We would not hesitate in recommending PCS Finance to anyone that may be looking for a great finance broker company.
I have only ever used PCS Finance to broker my Management Rights purchases. I have found PCS Finance to be knowledgeable, open, honest and thorough and always willing to help. We have always had smooth sailing and I'm sure that's due to the vigorous paddling below the surface. PCS Finance's knowledge of partnerships has been invaluable. I would not use anyone else.
I had minimum capital and could not see any way to get sufficient finance. PCS Finance managed to work with the bank to use my equity to get me enough money to buy the Management Rights I was desperately looking for. This was the second time they have done this and it was even easier and quicker, and much less information I had to provide. In total, I have now been able to purchase Management Rights of more than $1.7M, I just wish I had started earlier in life.
PCS Finance delivers superlative service based on exemplary knowledge of the industry in all its facets providing confidence in all negotiations. I cannot recommend more highly PCS Finance and their team to anyone considering using their services to enhance their future.
The team at PCS Finance were fantastic. They took the time to understand my needs and then provided me with several options that ensured all my needs were met. The ongoing communication and quality of service is excellent. I am happy to recommend them.