Hi all
Im new to all this and I just wanted to know some questions on this whole serviced apartment/holiday letting business.
I know in Queensland when you buy a unit, you can place it in the buildings rental pool at your leisure and obtain an income, the management /hoiday rental pool of the building is also associated with the purchase of the 'management rights' for the building.
In other cities, such as Melbourne how does the whole management work of strata buildings,
how is the serviced operator eg: Oaks, Quest, other private smaller companies eg: Nova Star Gate hotel apartment assigned or obtained for the building? do they purchase any sort of 'rights' to manage or use the buildings for serviced apartment purposes?
Does it have anything to do with the body corporate to approve or find an operator?
Who decides whether the building will be ONLY residential or offer serviced apartment short term letting?
also who looks after the common areas in these serviced apartments, is that the job of the serviced apartment operator or does the body corp still have to deal with all that?
Thanks in advance. Great forum Btw!
Im new to all this and I just wanted to know some questions on this whole serviced apartment/holiday letting business.
I know in Queensland when you buy a unit, you can place it in the buildings rental pool at your leisure and obtain an income, the management /hoiday rental pool of the building is also associated with the purchase of the 'management rights' for the building.
In other cities, such as Melbourne how does the whole management work of strata buildings,
how is the serviced operator eg: Oaks, Quest, other private smaller companies eg: Nova Star Gate hotel apartment assigned or obtained for the building? do they purchase any sort of 'rights' to manage or use the buildings for serviced apartment purposes?
Does it have anything to do with the body corporate to approve or find an operator?
Who decides whether the building will be ONLY residential or offer serviced apartment short term letting?
also who looks after the common areas in these serviced apartments, is that the job of the serviced apartment operator or does the body corp still have to deal with all that?
Thanks in advance. Great forum Btw!