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Management Rights
Overview Management Rights Agreement
Management Rights Valuation Method Legislation - Management Rights Letting Income Sources
Manager's Salary Income Tax Consideration Contract Requirements Summary Seminars
Legislation - Management Rights Letting
The letting of units by the manager makes him a Real Estate Agent. The relevant legislation is the Property Agents & Motor Dealers Act. A section of this Act provides for a "Resident Letting Agents Licence" for Managers. The requirements to obtain this licence have been easily achieved by numerous managers in the past. None of our clients has failed the requirements, which are:
  • Residence in the building
  • Twenty one years of age
  • Of good fame and character
  • A fit and proper person
  • Completes an examination on Trust Account and other provisions of the Act
  • Has an office in the building
  • Has a Management and Letting Agreement with the Body Corporate
The restriction in the licence is that the manager may only let units in the building. He may not let other units nor act as a selling agent. A potential purchaser should become familiar with the relevant provisions of both acts. We discuss these provisions in more detail with our clients after they have decided to make a purchase.

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Property Pacific Real Estate
5 Markeri Street, Mermaid Beach  Queensland  4218
Ph: 5572 0255    Fax: 5572 8352   (International dial: +61 7  STD: 07)
Email:
propertypacific.com.au
Property Pacific Real Estate 2004