The Management Rights Specialists

How do I get paid? Your Body Corporate Salary is paid monthly in arrears, your income from the letting business is made monthly from the disbursal of your trust account. At this time your income from maintenance is accounted for.

What happens when my agreement expires? Agreements are normally set up with a contract containing a clause allowing further extension (option). On expire of the current contract the option becomes the contract and may contain further extensions. It may be necessary to negotiate a new contract with the Body Corporate. In so negotiating the manager's position is strengthened by the fact that his unit is the only unit within the complex able to carry out a commercial business. Legislation forbids Bodies Corporate from financial gain in negotiating a Managers Contract.

What is the "net profit" of the business? Net profit is calculated on the basis of income less expenses. It does not include bank interest, taxation, depreciation or any other deductions not directly related to the operation of the business.

What is an ideal salary? Body Corporate Salary is normally paid in line with the number of units in the complex. The average of the industry is approximately $1,000 per unit per year, but may vary in accordance with labour requirements.

What is the difference between office on title and exclusive use? An office on Title is owned by the manager. Exclusive use is where the office is on common property and us is granted by the Body Corporate to the manager for the term of the agreement and protected by the By-Laws, or the office maybe granted occupation authority incorporated in your contract. Any of these options are acceptable.