25 February 2024

Not Just Residential Property

Cote Nord Property Port Douglas is your local Port Douglas management rights business specialist.

If you're looking for a seachange, but not sure what you will do for a livelihood, management rights might be the solution.

Particularly widespread in Queensland, and covered by state legislation, with management rights you purchase, on title, a property within a strata-titled complex as your residence, and you also purchase from the sellers the associated business of letting other lots within the complex, so you have both a home and a business. That business has two main income streams – a body corporate salary for attending to caretaking duties, and which can vary depending on such factors as the size of the property physically and number of lots, and is usually CPI indexed; and the income you make from the letting activities. When you buy management rights, you will have two agreements with the body corporate – a caretaking agreement, and a letting agreement permitting you to carry out the letting of lots within the complex from the complex. If the complex is in “the Accommodation Module”, there is a 25-year maximum term limit.

Many of the accommodation options in Port Douglas operate under this sort of structure, and these businesses do sometimes go on the market. Although there will be an overall listing price, that price will be made up of two component parts – the price of the residential property, and the price of the business.

Cote Nord Property Port Douglas currently has several management rights businesses listed for sale. On our website, for our current listings, from the top menu choose Buying - Commercial and Business. If you are new to the industry, don’t hesitate to contact us to learn more about these particular businesses, and management rights and Port Douglas more generally.