“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
"My wife and I are thankful and very grateful for the excellent financial advice and success you have provided us to date. We look forward to your continued professional support in the future"
"PCS Finance are efficient, friendly and helpful. It was our first purchase, lots of unknown. Damien was very patient and directed us each step of the way. Thank you heaps for that"
"PCS assisted me with several purchases, which in themselves were complex, because it involved the sale of multiple properties at the same time. Many scenarios were presented to Damien during the process, and at all times they handled the issues with a high degree of professionalism, enhanced by the personal touch"
"What we liked most was the communication, we were always kept informed along the way and how it was progressing. It was possible that the lending would not come through at one stage, but Damien managed to get us over the line. Many thanks for everything"
"I have only ever used PCS Finance to broker my Management Rights purchases. I have found Damien 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. Damien's knowledge of partnerships has been invaluable. I wouldn't use anyone else"
"Damien and Helen 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"
"I would like to thank Damien and Helen 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 with PCS Finance in the future"