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  1. #1

    Default Management Rights

    I thought it time I step up from the sidelines and ask a question!

    I've recently been seeing advertisements selling property management rights in resorts / apartment blocks etc. I'm aware that this is quite a common practice in parts of Australia, especially the Gold Coast.

    Has anyone ever done any research on these? I asked for some information on one of them that was being marketed, and was surprised that you only had the right to manage the resort / occupy the managers apt., for 44 years. I assumed that you purchased the managers apt. which included the management rights in the price. The purchase price of the resort I looked at was quite high, you could have actually leased a hotel for the same price in many instances.

    Any comments?

    Thanks for all of the informative information in the past

    Brent

  2. #2
    Join Date
    Aug 2003
    Location
    auckland
    Posts
    413

    Default

    Hi Brent

    While holidaying in the gold coast we got talking to a real estate agent who commented about managing of estates. It seems that many New Zealanders buy into this concept without doing conplete due dilligence. The Agent mentioned that many did not like what they had bought into and had not realised what they were letting themselves in for.

    I suggest you contact a few RE Agents who deal in this kind of property and ask them your questions.

    Tamara


 

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