#managementrights

Most online sale listing sites online will allow you to subscribe and set alerts.  Do that, but be specific and enter more than one saved search rather than casting your net too wide.  It’s better that you find something within (say) 2 or 3 specific searches that tick (most of) the boxes for you, rather than finding lots of ultimately unsuitable properties within one general search.

Sometimes a two person team can disagree about how to present the business for sale, or the asking price.  Sometimes there’ll be more than one buyer and there will be a disagreement about which offer is the best.  If you’re a joint owner of management rights trying to sell, then make sure that all of your external communications are consistent, so that you don’t send mixed signals.  Confusion is one of the many pathways that can lead to mistrust, and mistrust leads to crashed contracts.

 

While the “market” for management rights can be pretty inconsistent, information about properties for sale is always available online. Look at what you’re competing against and consider what sets your complex apart from the other offerings. Once you’ve found those things, make sure you emphasise those points of difference in your online and other sales information.

Like most things in life there is a sweet spot when it comes to occupancy and room rate.  Dropping tariffs may increase your occupancy and revenue, but only to a certain point.  Increasing tariffs may reduce your occupancy but increase your profit, again only to a certain point.  The sweet spot is optimal, sustainable profit for you (and therefore also for your owners).  Other management rights operators will tell you that this sweet spot is usually also the optimal compromise between work and lifestyle.  Do the numbers, try different combinations and find your sweet spot.

 

Few lawyers appreciate just how much hassle is involved in moving house; including packing, booking removalists and then being on hand to distribute those dozens of boxes throughout the (usually much smaller) unit that you are moving into.  If there is a delay with settlement, ask your lawyer whether it’s possible to obtain early possession, from the original settlement date.  You’ll be surprised at how often it’s granted; usually because the seller has also made arrangements to move out!