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Tim
28-02-2005, 08:27 PM
Looking at the idea of purchasing management rights on apartments. Be interested if anyone has experience or advice. Most return around 30% of purchase. You do the looking after and letting.

Snapper
07-03-2005, 02:20 PM
Had three of clients who used to have management rights. Two of them had good experiences although they did say that it takes a while to build up the income. Both were with NZ apartments. The other one had management rights for some Queensland apartments and did not have a happy experience. He said that it was bloody hard to get the apartment owners to maintain them to a 4 star level which they were meant to be. As the owners were not getting the rental returns they had been expecting they were loath to spend money on upkeep. Consequently the apartments slipped to a 2-3 star level which wasn't good for business either. Bit of a vicious circle. Obviously the most important thing is to make sure that there is good demand for them and that owners are getting a reasonable return on their investment.

Good luck