Varying Management Rights Agreements

HubSpot Video

 

This webinar discusses the how-to's and pitfalls of changing management rights agreements.

Top 3 Takeaways:

 

Strategy is Everything 

 You don’t simply decide to look at a variation and dive headfirst. You need a strategy regardless of who you are (committee, owner, MR holder or otherwise). And your starting point is always at the end: the general meeting. Strategy is about being clear on the outcomes you want and then what is required to achieve them. Get professional assistance on this as needed.  

 

Respect Legalities  

Charging into a variation without representation is fraught with danger. This is a contractual set of arrangements and making decisions about them without having qualified advice is a fool’s game.  

 

It’s Business 

Management rights are a commercial transaction. That’s it. It’s a business and should be treated like a business. You lose position, power and credibility when you make it personal, regardless of your status as MR holder, committee or owner. It’s a transaction. Don’t get sucked into the vortex of recrimination.  

 

Useful Links:

Exercising options and topping up webinar - https://blog.hyneslegal.com.au/webinars/management-rights-agreements-exercising-options-top-ups 

Gallery Vie newsletter - https://blog.hyneslegal.com.au/news/did-you-hear-the-rumours-about-bank-lending-on-management-rights 

Lobbying webinar "Politics of Strata - Counting the Numbers" - https://blog.hyneslegal.com.au/webinars/counting-the-numbers-the-politics-of-strata-part-1 

 

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