Management Rights are unique, offering the combination of a secure salary and the opportunity for expanding and growing the letting business.

This is an attractive investment primarily because of the lifestyle it offers and for other reasons that include:
* You have the opportunity to control your own business from home
* The business requires very little working capital because of the body corporate salary that is paid monthly
* The business carries minimal stock
* The business doesn't carry any bad debts as all monies are paid at months end
* The business is secured by a term agreement with the body corporate

Management Rights owners come from all walks of life and from diverse backgrounds and ages and are all seeking a similar goal; the combination of a good business and a home located in a fantastic location. Owners with handyman skills or a marketing, tourism or hospitality background will have an advantage.

The current manager owners are responsible for 13 luxury fully self-contained contemporary designed one and two storey homes. The property is within 200 metres of one of the town’s favourite beaches, accessed from the complex by a casual walk under shady trees and across white sand.

The business is selling for a realistic and attractive price of 2.8 times Net Profit (before owner’s wages). Comparable properties in the Eastern States can ask 4 to 5 times Net Profit. Businesses in the Eastern States with similar profits can sell for $700,000.

A few of the many positives of this business are:
* A large proportion of guests are repeat customers or word-of-mouth
* Quality near new (built 2003) Managers House: 3 bedroom x 2 bathroom brick and tile house {145sqm} with front office and attached storage on a 549 square metre block
* Strong occupancy levels with scope to further expand the business
* Current ROI based on 2009 financials for an owner operator is 37%
* The letting fee is up to 20% higher than other resorts
* The rates are higher on average than other complexes in the area, which means the income is similar to other complexes, but there are less properties to manage
* Already approximately $250,000 in forward bookings
* With the strong likelihood of 5 additional properties coming into the rental pool in 2010, the annual letting income to new owners is likely to increase by $25,000 p.a based on current occupancy rates.
* Strata management agreement when a new manager starts is 5 + 5
* An increase in rates of up to 13% (as of Oct 2009) will begin to flow through as new bookings occur
* Online bookings are approx 50% of total bookings via a newly updated website belonging to the business.

Depending upon your work capacity and desire to increase your income, hours can vary. The current owners (husband and wife) work the equivalent of a 35-40 hour week each, usually taking Saturdays off and also having time to attend their children’s sports and take them to school.

"Management Rights is the business of living in and providing care-taking and letting services within an accommodation complex, with the added bonus of running your own business from home. Resident managers are paid an annual management fee to oversee the buildings in the complex and to maintain the common grounds. Additional income is gained by collecting a percentage of the income for letting out the homes within the complex that belong to property investors. Managers can earn further income by charging owners for servicing their properties i.e. cleaning, maintenance etc (owners pay all costs), as well as creating other income streams (as mentioned in our business profile)."

There is already considerable interest from prospective buyers on our database. In the words of one potential buyer......"We are very interested and looks exactly like what we’ve been looking for"

For further details including a comprehensive business profile, please contact either broker:
Alan Dinnie on 0417 906 263 or email alan@elliscorp.com.au
Richard Mott on 0410 817 048 or email richard@elliscorp.com.au