How-to Assign Management Rights

 

Key Takeaways

Our top 3 takeaways for the how-to of assigning management rights – whether you are on the committee or the management rights holder/holder-to-be: 

 

Keep Your Eyes on the Prize  

Never lose sight of the fact that management rights are a valuable part of your strata scheme and thus, the value of your investment in it. Well-run caretaking services add tremendous value to your building while services that are hindered by a protracted or difficult assignment can add time, cost and stress. Both sides want things as smooth as possible for the sake of their substantial stake in things.  

 

Get Expert Assistance and Advice 

There are a lot of moving parts in the assignment process and it is therefore easy for mistakes to be made. Those mistakes can end up costing a lot of money. It is imperative that both parties get expert advice in the assignment process. Adjudicators in the Commissioner’s Office have referred to this, in previous adjudication orders. Remember also that expert advice might be engaging consultants who are not lawyers but who can add value in other ways.  

 

Keep it Business-like

It’s very easy to fall into an emotional state of being during assignment, particularly if the assignment is happening relatively soon after the caretaker was engaged or if there have been disputes between the caretaker and committee. Remember, though, that this is very much a contractual situation and should be treated like the transaction it is. Legislation requires things to not be ‘unreasonable’ and that means applying a very business-like focus to things.  

 

Download our free guide: Assignment of Management Rights https://offers.hyneslegal.com.au/assignment-of-management-right 

 

Helpful Links 

Transfer fee article - https://hyneslegal.com.au/body-corporate/frequently-asked-questions/so-what-is-a-transfer-fee-anyway/ 
Committee training - https://stratasolve.com.au/services/ 


 

Hynes Webinar Hosts

 

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Frank Higginson
Partner & Director @ Hynes Legal

Frank has extensive experience in strata law and is an active participant in the body corporate and management rights industries. He regularly presents at industry events and offers thought leadership on why strata and body corporate disputes need to be resolved in a different way.

 

 

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Chris Irons
Director & Consultant @ Strata Solve

Formerly Queensland's Commissioner for Body Corporate and Community Management, Chris' experience in dealing with strata issues and resolving conflict in body corporate is unmatched. Chris bring unmatched experience to the table as well as a unique perspective on solving issues in strata. Chris now heads up strata consultancy firm Strata Solve.