Contributed By: Nick Buick on

It’s perfectly legal, cheap, and a highly effective means for real estate agents to grow their rent rolls. I’m talking about prospecting software, and over the last decade it’s become common-place in property management. From RPData, Pricefinder, Winning Edge, and many more, these systems are becoming faster, smarter and more efficient all the time. Their purpose, more or less, is to put you out of business. Here’s what Winning Edge has to say on their website about their tool: “With more than 12 years’ experience providing owner information to the real estate industry and multiple databases across Victoria and Queensland. Ownership Data is proven toRead More →

Contributed By: FNX Finance Group on

Today we present the fifth in our series of analysis on the selling market for Management and Letting Rights (MLR).  We have been collating this data quarterly since June 2017 and the following is a broad summary;      – Stock levels continue their growth which commenced in January 2018.  There is now $1b of MLRs on the market.      – This has largely been in the Permanent and to a lesser extent the Corporate space.      – The average listing period of all buildings has been 71 days in the last quarter.  With an additional 90-100 days to complete settlement.      – There is about 0.2x lower multiplier for Standard AgreementsRead More →

Contributed By: Michael Kleinschmidt Stratum Legal on

On 26 September 2018 Adjudicator Roseman declared the letting authorisation for Allure Apartments in Townsville void.  The management rights operator, Allure Townsville Accommodation Pty Ltd (ATA), had taken a transfer of the letting authorisation in June of 2015.  The management rights were transferred from Allure Hotel and Apartments Pty Ltd (AHA) who had acquired them from the developer, South Townsville Developments Pty Ltd, on 3 September 2014. From the beginning, the management rights business had been operated from a manager’s unit (lot 201) and a reception area, initially located on the common property. While AHA was the operator, that area of common property was convertedRead More →

Contributed By: Chris Rowe, Accommodation Business Brokers on

This wide brown land is full of stunning vistas and incredible experiences. It’s no wonder Australians, and overseas visitors are so keen to explore our great in-lands not just cities and coastline. Tourism is listed as one of Australia’s top-tier industries of the future. With the Australian Bureau of Statistics showing that regional Australia currently claims 45 percent of ‘visitor nights’ and 44 percent of traveller spending money, there’s plenty of opportunity for accommodation businesses and in particular Motel owners. Why buy a Motel? If you’re new to the hospitality industry, a Motel can be an excellent first business. Like any accommodation business, running your own MotelRead More →

Contributed By: Mike Phipps Finance on

Rules are interesting. Some think the more rules the better while others subscribe to the school of discretionary decision making. I am a fan of some common sense latitude in most decision making processes, particularly those involving the individual merits of a finance application. It is true that many cry out for absolute certainty in all things finance. Problem is, hard and fast rules will inevitably gravitate to a lowest common denominator environment where we will all be compelled to walk as slow as our slowest borrower. Have a look at some of the people giving evidence at the banking commission and I would proposeRead More →

Contributed By: Short Punch & Greatorix on

Some time ago I published an article on what I thought was reasonable for a Body Corporate to request from a buyer of management rights, in considering whether or not a Body Corporate committee should consent to the transfer of management rights agreements to the buyer. This is an important issue, because under the Body Corporate and Community Management legislation, a Body Corporate committee must not unreasonably withhold approval to a transfer. Under the legislation, one of the matters which a Body Corporate committee may have regard to is the financial standing of the proposed transferee.  My opinion as expressed in my previous article wasRead More →

Airbnb is never far from the headlines, and many industry segments are clamouring for regulation. In June 2018 the NSW government announced severe restrictions on short stay accommodation. It remains to be seen how that will work in practice, and how Queensland will implement our own version. Hopefully the legislative response will be informed by the lessons learned from the regulation of ride sharing services such as Uber. Industry Concerns Body Corporates, owners, and on-site managers are justifiably concerned about the rising popularity of home sharing services, and other online accommodation booking platforms, for properties within Community Title Schemes. Naturally, I can’t condone “self-help” remediesRead More →

Contributed By: Chris Rowe of Accommodation Business Brokers on

Travel-based accommodation venues like Caravan Parks, Backpackers, Motels, Hotels and Holiday Resorts are in high demand across Australia. To ensure you receive the best price when selling your accommodation business and have a smooth experience from beginning to end, follow our recommended steps. PHASE 1: PLAN Step 1. Understand the value of your accommodation business Researching similar properties in your area will give you a rough indication of what your accommodation business is worth. But engaging an accommodation business broker early will help identify any strategic improvements that could have a significant uplift to your sales price. Step 2. Decide who will represent your saleRead More →

Contributed By: Nick Buick on

Industry newcomer AccomProperties are making some fairly outlandish claims about their web portal of late. I came across this rather amusing banner-ad while browsing the internet recently: Of the 2 line heading, they managed to squeeze 2 arguably false claims into their ad… I’m actually impressed – but not in a good way. Claim 1: AccomProperties.com.au is “…Australia’s Leading Management Rights Portal…” That’s a mighty big claim for a website that’s been around for what… 18 months? To inject some reality back into the discussion: our management rights portal has been operational since 2005, turns over ~1 million dollars a year, logs over 25,000 visits perRead More →

Contributed By: Mike Phipps Finance on

Don’t it always seem to go That you don’t know what you’ve got til its gone They paved paradise And put up a parking lot… Joni Mitchell Big Yellow Taxi 1970. The story goes that Mitchell was inspired to write this tune on a trip to Hawaii. She threw open the hotel curtains to take in a mountain vista and was confronted by acres of concrete car park. We will come back to Joni later. This month’s dispatch comes to you from various locations in Switzerland and Italy where the managing director and I are taking in the so called holiday of a life time.Read More →