Management Rights were invented on the Gold Coast in the mid 1970’s. People were buying units in developments for investment purposes. These developments had two primary needs; someone to caretake the development; and someone to let out the units so that the unit owners could get a return. To satisfy these needs, the practical idea was developed for a manager to both buy a unit in the development and use the unit both as the manager’s residence and a base from which to operate an onsite caretaking and letting agency business. People who take on this role are commonly referred to as Resident Managers. This system of management has proven to be so successful that there are very few community titled residential and resort developments in Queensland which do not have Management Rights in place.
Our firm assisted in the legal development of Management Rights arrangements and for over 30 years Short Punch and Greatorix has been providing sound legal advice in relation to Management Rights to:-
- Bodies Corporate in respect to transfers of Management rights, negotiating new Management Rights agreements, and varying existing Management Rights agreements.
- Resident Managers in respect of putting in place new agreements or variations to agreements and assisting them to resolve disputes with the Body Corporate or unit owners
Our commitment to helping those participating in the Management Rights industry has involved many hours of voluntary service including:-
- Providing free consultations for those intending to buy Management Rights
- Regular information sessions for those looking at buying Management Rights
- Submissions to and involvement on committees advising Governments on Management Rights
- Sponsoring and speaking at seminars for Resident Managers
- Producing articles about specific Management Rights topics for Management Rights industry publications
Our three partners specialising in Management Rights are Martin Punch,Michael Backhaus, andJohn Punch.