They are safe, secure, proven businesses that involve overseeing the maintenance and leasing of properties within an apartment or townhouse complex. Most complexes also provide a unit or townhouse for an onsite manager as part of the purchase price for the Management Rights.
Historically, Management Rights produce great returns on investment, providing the owner of Management Rights with both a home and a high-income business they can run from that home.
A resident manager buys management rights to provide, for a yearly salary, the long term caretaking of the common areas such as pools and gardens. The resident manager also enters into a letting agreement in which the Body Corporate grants them the sole right to operate a permanent and/or holiday letting business from within the complex on commission.