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Management rights are a common feature of accommodation style and residential community titles schemes. They are a contractual arrangement between the body corporate and a contractor that allows the contractor to provide onsite letting services for owners in the scheme.

Management rights are typically sold by the developer during the original owner control period.

Under the  Body Corporate and Community Management (Accommodation Module) Regulation 2020 (the Accommodation Module),  the  contracts are binding for up to 25 years.

For schemes registered under the  Body Corporate and Community Management (Standard Module) Regulation 2020 (the Standard Module)  the timeframe is up to 10 years.

These contracts usually contain options for extension or renewal and can be re-sold by an existing management rights holder. Management rights have been a source of significant discussion amongst community titles sector stakeholders, as all owners are impacted by the terms of the contract.

This article delves into some of the more contentious issues encountered in relation to management rights arrangements...

Management rights businesses are unique to the strata sector. A body corporate is a party to any management rights agreement, and therefore plays a role in the transfer of those agreements should the resident manager wish to sell.

 

This guide is for committees who have been asked to, or may soon have to, consider the question of consenting to the assignment of the management rights agreements for their scheme – namely:

• the impact of changing a regulation module on caretaking agreements
• the current legislative position on extending caretaking agreements
• the possibility of review rights for newer schemes.

Last Chance to Win Big: Committee Course Challenge Closes Today!

 

The countdown is on! The Committee Course Challenge officially closes at 5 PM today, Friday, 24th January. Don’t miss your chance to take part in this exciting challenge and be in the running to win big!

 

What's the challenge? The Committee Course Challenge is designed to educate and empower participants on the essential roles and responsibilities of a Committee. 

 

The challenge is quick, insightful, and designed to empower our community...

Almost every topic possible that is related to Strata is featured in our article library.  Use the search tool to find articles of interest.  Here are the last seven articles published:

Committee Course Challenge Closing Soon - By Smart Strata  

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