Management rights are the business of on-site caretaking and letting within a Body Corporate. Management rights agreements are a collective description of the caretaking and letting agreements.
The term “management rights” refers to a contractual arrangement between a business entity (individual, partnership, corporation or trust) and the Body Corporate of a community title scheme.
Management rights traditionally include:
An authorisation to use part of common property;
A contract for the caretaking of common property in a body corporate; and
An authorisation to let lots in the scheme.
Your rights can vary depending on the regulation module for the body corporate and its by-laws.
Management rights are complex business arrangements with many managers entering the business for the first time. Contracts generally require the verification of financial information, extensive legal due diligence of all body corporate contracts and letting arrangements, satisfying the requirements of financiers and obtaining the approval of the body corporate for the assignment and/or amendment of agreements. Appropriate legal and financial advice should be obtained from professionals with expertise in this highly specialised area.
Our management rights team has provided expert advice to buyers, sellers and developers of management rights and can assist with all management rights and associated matters.
Common service provide for past clients
Advice on length of management rights
Legal due diligence for the transfer of management rights
Challenging unlawful management rights agreements