Resort News, May 2021 by Multimedia AU/NZ

Registered by Australia Post Print Post No. 100023799

Issue 297 | May 2021 | $13.75 inc. GST

The Monthly Magazine for Accommodation Industry Professionals

www.accomnews.com.au

Proﬁle 19th Avenue on The Beach Person of Interest Stephen West management rights • hotels • motels • resorts • holiday parks • time share • hosted We specialise in furniture for hotels, motels, serviced apartments, resorts and refurbishments.

Call Dennis Clark now on 0421 384 212 dennis@hotelinteriors.com.au hotelinteriors.com.au • 1300 876 055

Dennis Clark

Founder

MDIA

+ 0 5 3 R JOIN OU S R E G A N A M T N RESIDE ING FROM ACCOMPROPERTIES FITT E N E B Y D A ALRE

AccomProperties actively recruits qualified Resident Managers in order to sell units & fill vacancies within their respective accommodation complex. AccomProperties offers support, expertise and access to an extensive range of agency resources. Our 350+ members have direct and streamlined access to our ever increasing list of leading industry portals:

com.au

Plus direct access to leading industry tools and resources.

Unit Sale s Rental Lis & tings

s tal Listing n e R it n U

$330 ST P.A Incl G

and a growing range of additional services!

$880 P.A Incl G ST

(Additional Fees: Realestate.com.au $120 incl. GST per sales listing, Realestate.com.au $20 incl. GST per rental listing, $8.80 incl GST per tenant search applies)

MEMBER FEEDBACK AccomProperties Sales & rentals platform easy to use “One of the benefits of being members of ARAMA is utilising their affiliates such as AccomProperties. They are economical and very supportive in the setup stage and follow on service. The platform is straight forward and easy to use. We have successfully leased properties through AccomProperties as an advertising platform.”

– Rabih Assaf, Manager, Village Circle

AccomProperties Sales & rentals portal very efficient and easy to use “Having joined AccomProperties in October 2019, I have found the portal to be very efficient and easy to use. Listings are automatically uploaded to REA and Domain instantly. The cost is very competitive compared to other agencies and IT support is always available should I need it.”

– Mei-Chu Wang, Manager, Enoggera Manors

It was such a pleasure to deal with AccomProperties they actually liked talking to their clients “It was the first time we needed to use an online residential rental and sales listing marketing service – and the service we received from Patrick at Accomproperties was superb! Patrick was always available and incredibly helpful. He anticipated our needs and fixed our problems promptly and effortlessly. In an era where most companies hide behind email, it was such a pleasure to deal with a company that actually liked talking to its clients.”

– Sophie Dillon, Resident Manager, Alexandria Apartments

AccomProperties shows tremendous backing for the Management Rights Industry “AccomProperties has shown tremendous backing for the management and letting rights Industry by enabling ARAMA members to connect to realestate.com.au, Domain and other portals. Protecting your letting pool has never been more affordable or easier than with the new platform and we are grateful to AccomProperties for offering these deals.”

– Trevor Rawnsley, CEO, ARAMA

I would encourage all managers to get their rental properties listed with AccomProperties “All resident managers, and in particular ARAMA members, should be excited about this initiative. The ‘easyto-navigate’ system allows managers to be more efficient in what we do - generating more revenue for owners and ourselves. I would encourage all managers to take up the opportunity to get their rental properties listed, and if fully licensed then those that come up for sale as well. The platform could be a revenue generator and means of managing the rental pool. AccomProperties is a well-respected platform that has extensive industry knowledge and experience and we are very happy to be able to partner with them in taking it to market.”

– Eric van Meurs, Atlantis Marcoola

AccomProperties generates three referrals in the first hour, and the property was leased within 48 hours. Result! “News that ARAMA members had free access to AccomProperties listing service arrived just as one of my units came up for lease, so I gave it a try. The site is easy to navigate, and I had my ad ready to go in 20 minutes, complete with photos and floor plans. I needed a little help getting it live, and a call to customer service sorted me out very quickly. My previous service took 24 hours to hit realestate. com.au, but with AccomProperties my ad was up in 20 minutes, and any edits were uploaded equally quickly. I had three referrals in the first hour, and the property was leased within 48 hours. Result!”

– Glenys Higgs, Manager, No.1 Newstead

Phone: 07 5440 5322 mail@accomproperties.com.au

The legal stuff... The views and images expressed in Resort News do not necessarily reflect the views of the publisher. The information contained in Resort News is intended to act as a guide only, the publisher, authors and editors expressly disclaim all liability for the results of action taken or not taken on the basis of information contained herein. We recommend professional advice is sought before making important business decisions.

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Disclaimer Any mention of a product, service or supplier in editorial is not indicative of any endorsement by the author, editor or publisher. Although the publisher, editor and authors do all they can to ensure accuracy in all editorial content, readers are advised to fact check for themselves, any opinion or statement made by a reporter, editor, columnist, contributor, interviewee, supplier or any other entity involved before making judgements or decisions based on the materials contained herein. Resort News, its publisher, editor and staff, is not responsible for and does not accept liability for any damages, defamation or other consequences (including but not limited to revenue and/or profit loss) claimed to have occurred as the result of anything contained within this publication, to the extent permitted by law. Advertisers and Advertising Agents warrant to the publisher that any advertising material placed is in no way an infringement of any copyright or other right and does not breach confidence, is not defamatory, libellous or unlawful, does not slander title, does not contain anything obscene or indecent and does not infringe the Consumer Guarantees Act or other laws, regulations or statutes. Moreover, advertisers or advertising agents agree to indemnify the publisher and its’ agents against any claims, demands, proceedings, damages, costs including legal costs or other costs or expenses properly incurred, penalties, judgements, occasioned to the publisher in consequence of any breach of the above warranties. © 2021 Multimedia Pty Ltd. It is an infringement of copyright to reproduce in any way all or part of this publication without the written consent of the publisher.

Inside our May issue FRONT DESK Editors Note: The movers & shakers of 2021 .................05

INDUSTRY News In Brief .............................................................................. 06 ARAMA Report .......................................................................... 09 State Report ................................................................................ 10 SCA Report ...................................................................................11 BCCM Report .............................................................................. 12 Person of Interest: Stephen West ....................................... 14

MANAGEMENT Legal Ease..................................................................................... 16 By All Accounts .......................................................................... 18 Motel Market ............................................................................... 19 Thinking MR.................................................................................20 Insurance Market ......................................................................22 Intonet ...........................................................................................24 Building Relationships ............................................................24 Good Governance .....................................................................26

TOURISM Tourism Report ...........................................................................28 Tourism International ..............................................................30

PO Box 1080, Noosaville BC, Queensland, Australia 4566 Phone: (07) 5440 5322 mail@accomnews.com.au www.accomnews.com.au

The Last Resort .......................................................................... 31

EDITOR

Events.............................................................................................32

Mandy Clarke editor@accomnews.com.au

INDUSTRY REPORTERS

David Carroll Grantlee Kieza

ARAMA Industry Events Calendar .....................................33

DESIGN & PRODUCTION

Richard McGill

DEVELOPMENTS

ADVERTISING SUBSCRIPTIONS

Stewart Shimmin advertising@accomnews.com.au Gavin Bill subscriptions@accomnews.com.au

CONTRIBUTORS Andrew Morgan, Arvo Elias, Chris Traill, Col Myers, James Nickless, John Mahoney, Jonathan Hanaghan, Kelley Rigby, Lynda Kypriadakis, Michelle Scott, Mike Phipps, Stephen West and Trevor Rawnsley.

Developement News ...............................................................34

PROPERTY Agent Profile: Selina Zhong - Property Bridge ...............38 AccomProperties Sales Report ...........................................38

PROFILE

KEY Commercially funded supplier profile or supplier case study Supplier information or content Suppliers share their views in one-off, topical pieces General editorial. Case studies and features may cite or quote suppliers, please be aware that we have a strict ‘no commercial content’ guideline for all magazine editorial, so this is not part of any commercially funded advertorial but may be included as relevant opinion. Happy reading!

EVENTS & APPOINTMENTS

19th Avenue on The Beach: Manager raises occupancy in landmark resort ............42

PREFERRED SUPPLIERS The Preferred Suppliers Directory ......................................46 FRONT DESK

32 ResortNews | May 2021

April has flown by. Is it just me or do people appear to be busier than ever? It seems every person I have crossed paths with recently is in a frantic state of ‘doing’ they are buying, selling or renovating, they are moving to a new house, changing jobs, or relocating states, many are also planning exciting home-grown trips and talking about where in the world they will go when international travel begins. I wonder if all this movement and change is an extreme reaction to the inaction experienced in 2020? If so, it seems the movers and shakers of 2021 are causing a ripple of positive waves within business, our management rights sector and indeed the wider economy. Despite the pandemic, in many regions house prices have risen to levels not seen for many years, apartment sales and rentals agents are reporting incredible results. As the sale of permanent management rights continues to go well, now the word on the street is that banks are

to discover more of Australia. I am happy to report that our team is also busier than ever. Patrick and I have no plans to move or travel, instead Patrick has been working on exciting new projects and add-ons to the service provided at Accom Properties. In everything he does behind the scenes his aim is to ensure you receive a good value service and a smooth, simple and cost-effective sales and rentals experience.

Mandy Clarke, Editor editor@accomnews.com.au

prepared to look at lending on short term management rights businesses and investors are on the lookout. Other reassuring news is that we are seeing real evidence of recovery within the domestic travel sector. Reports show healthy occupancy levels across many regions throughout the first quarter of 2021, this is due to both pent-up demand and the hard work put in by tourism agencies and operators to spur Aussies

In our opinion Accom Properties already outshines any other provider but this month Patrick really did manage to outdo himself. Alongside Kelley Rigby from Letts Rebuild, he organised a free webinar designed to take Accom Properties onsite managers through the whole sales process from beginning to end and everything in between. The session was well attended with over 40 participants and was a great success. He is plotting more webinars – so watch the space! What about me? I dodged deadlines to be able to attend the Women

in Management Luncheon and thoroughly enjoyed the whole shebang. O’Reillys Canungra Valley Vineyards was a glorious location to meet Marissa Millane face to face for the very first time, and I was overwhelmed to be embraced by a gathering of such warm and friendly women. I will be sure to attend these regular nuptials, thank you to Marissa for organising these special events.

EDITOR'S NOTE

The movers & shakers of 2021

Back to Resort News, this month we bring you another interesting profile that’s all about Li Li who plunged into the deep end when he purchased the management rights of 19th Avenue on the Beach. As usual, we have a plethora of useful advice from our regular industry columnists, an interview with insurance expert Christopher Traill and we talk to the man who wrote the book about management rights, Stephen West. Enjoy this edition and do not forget to check out what our Accom Properties portal can offer you. Cheers, Mandy

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ResortNews | May 2021

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FRONT DESK

NEWS IN BRIEF

An urgent skills shortage is hindering sector recovery Photo by Gil Ribeiro on Unsplash

By Grantlee Kieza, Industry Reporter

Australia is facing an alarming shortage of skilled workers in the accommodation industry that could take years to repair. Grantlee Kieza was given this ominous warning from industry leaders as properties around the nation try to recover from COVID lockdowns and the end of the JobKeeper subsidy. Accommodation Australia CEO Dean Long said the shortage of skilled workers includes chefs, kitchen staff, highly skilled room attendants, and cleaners. “If the Government doesn’t help our industry to keep these workers, they will be lost to it,” Mr Long said. “They will find other jobs. And the danger is if they are gone it may take years for us to regain skilled workers when borders re-open.” Michael Johnson, the CEO of Tourism Accommodation Australia, said he had not seen such a shortage in Australia’s accommodation workforce in 40 years in the industry.

So many properties can’t get enough chefs, can’t get food and beverage attendants, can’t get housekeepers.

“It is a real crisis, both with the labour shortage and the skills shortage,” Mr Johnson said.

closures of properties and a lot of those staff went off and found jobs in other industries, too.

“It’s frightful.

“So here we are starting to pick up, and all we need to do is have a busy weekend like Easter and we have hotels that have to hold back and are not filling to capacity because we don’t have the workers to actually service the guests’ needs.

“It largely stems from the fact we don’t have the working holidaymakers of previous years to support our industry. “We are a heavily casualised industry. When COVID hit, workers had to have been employed for 12 months to get any support. So many people in our industry left. We had lockdowns and temporary

“So many properties can’t get enough chefs, can’t get food and beverage attendants, can’t get housekeepers.”

INDUSTRY

Mr Long said the skill shortages meant Australia could lose its lofty position in the global hotel market if hotels and resorts were not able to give the usual high standards of service because of staff shortages. “Hamilton Island is a classic example of a holiday destination which could be operating at a much higher capacity than it probably is,” Mr Long said, “but they simply don’t have the staff to operate all their services and facilities. “In some cases, they actually have to close portions of their business because they don’t have the staff on the ground to run them and it’s the same situation at many of the islands.’’ Mr Long said Australian workers would not travel to distant areas for work unless they were offered big wages as was the case in the mining industry with fly in, fly out staff. “The accommodation industry can’t pay those sort of mining wages, because the prices for accommodation would need to be so high there would be no customers,” he said. ResortNews | May 2021

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Most occupancy levels will not recover until 2023 A new report from Deloitte confirmed that while Australia has achieved so much in combatting the COVID-19 pandemic, success on the health and economic fronts has imposed a particularly heavy burden on the country’s tourism and hotel sectors.

On the outlook Labine-Romain said: “The post-COVID recovery for Australian tourism will depend on a range of factors, including local and global economic conditions, ongoing government responses to managing the health crisis, travel restrictions and consumer confidence and behaviour.

Prior to COVID, growth in Australia’s tourism sector was outpacing growth in the wider economy.

“There is evidence of recovery for the domestic travel sector through the first quarter of 2021 via pent-up demand following the travel restrictions experience in 2020, and with encouragement by tourism agencies across the country to holiday in Australia.

“And then COVID-19 hit in March 2020,” said Deloitte national tourism leader, Adele LabineRomain. “International visitor arrivals globally fell by one billion, or 74 percent, and the Asia Pacific region suffered the most.

“Should the pandemic remain largely in control – at least from an Australian perspective – domestic overnight trips are forecast to grow to 113 million by the end of 2021, just under 2019 levels, and to 134 million trips by 2023,

a 14 percent increase on 2019.” The report suggests that international travel will not recover to near pre-COVID levels until sometime in 2023. On the accommodation sector Labine-Romain said: “The impacts of COVID-19 have been as equally stark for hotel operators. In 2020, travel restrictions led to hotel occupancy plunging to a low of 45 percent, a decline of almost 30 points on 2019. “Despite the devastating operating climate in 2020, over 5,000 new hotel rooms were added to the market in 2020. And looking ahead, there is the potential that more than 32,000 new rooms in likelihood adjusted terms will be added to the national room stock, with around 40 percent of these anticipated to open in 2022.

INDUSTRY

“With plenty of new stock, and even more in the pipeline, hoteliers will face considerable headwinds with average occupancy rates across the major markets covered in the report forecast to remain considerably lower than in recent years but recovering to 95 percent of 2019 occupancy levels in the final year of the forecast horizon.” Labine-Romain added: “We expect the pace of recovery to be different across the city markets. Brisbane and Perth are likely to see occupancy rates returning to 2019 levels by 2023, while the Gold Coast, Adelaide, Hobart, Tropical North Queensland and Western Sydney are expected to be slower to recover, largely due to their greater exposure to either business travel or international tourists, or both.”

ResortNews | May 2021

Cultivating a strong personal brand can greatly benefit your career. Being nominated, becoming a finalist, or winning an award presented by the peak industry body are all outstanding accolades to add to your belt. These accolades open doors to success by providing your services with the recognition that buyers, sellers, and investors need. Nominees and winners of the TOP Awards benefit from PR coverage through industry publications, increased brand awareness, proof of their achievements through industry recognition and networking opportunities at the event itself. It also creates word of mouth buzz as those who are nominated and receive awards will naturally want to share through their own channels. It spreads the message organically, giving your prospective clients social proof of your achievements. Beyond the marketing benefits, there are a number of reasons why you as a resident manager should self-nominate. We are all continuously developing, yet seldom take the time to reflect on how far we have come. The TOP Awards nomination process gives operators the chance to do just that.

“There are also a lot of owners that do know us, or who we haven’t met so to be able to say I’m a finalist at the ARAMA Awards as one of the Top Managers in Australia for 2019 carried a lot of weight, and it still does. “It also gives confidence to people who aren’t investors. We have the caretaking business and those who don’t really know what we do can look at the information and really say WOW that’s a lot.”

Trevor Rawnsley, CEO, ARAMA

to think, why would I nominate? “In hindsight, I should have done it myself because we went through a process where we thought about our business and the things that we had done to improve it. There is always something unique about all of us and those unique things came to mind. It really did highlight a lot of things we do within our community. We do them because we love to do them, when you’re looking back you don’t realise all the little things you do for people. “Not only were we doing an application, but it also made us feel good about ourselves and our business.” Guy Elliot of Sailfish Point in Mermaid Beach, (nominee and

ARAMA REPORT

The importance of recognising top performers

Guy Elliott, 2019 Long Stay Resident Manager of the Year nominee with his wife & business partner Katherine

finalist of the Long Stay Resident Manager of the Year Award) also had a lot to say about the benefits that the nomination brought him beyond marketing. He said: “When we realised that ARAMA had this award, we thought what a great opportunity, it would be to win and what it would do for the business. “We do a lot of sales in our business and winning an award helps to promote you in the eyes of someone who doesn’t know you.

Both Geoff and Guy have benefitted by marketing their awards nominations years into the future. They have also received industry recognition, and the recognition of their peers. ARAMA life members have graciously donated their time and expertise to judge the TOP Awards ensuring a fair outcome for all nominees. The judging process takes place until the end of May, with the winners being announced at the TOP Awards Event, taking place from 6:00pm on Tuesday 27 July 2021 at the Victoria Park Events Centre. For tickets, visit www.arama.com.au

When Geoff Hussin of Ivory Palms Noosa (the winner of the 2019 Short Stay Manager of the Year) was nominated by a peer, he did not realise the self-confidence boost he would receive before even submitting. Geoff recently gave this advice to those who were cautious of self-nominating. He said: “It was pretty interesting going through the (nomination) process because you’re thinking about your business and trying ResortNews | May 2021

Geoff Hussin, 2019 Short Stay Resident Manager of the Year Winner with daugther Katelyn and his wife & business partner Tamara

INDUSTRY

STATE REPORT

Termination of residential tenancies in NSW after the COVID-19 moratorium

The temporary tenancy moratorium introduced by the NSW government to restrict when landlords could evict residential tenants due to rental arrears as a result of COVID-19 ended on 26 March 2021.

From 27 March 2021, a six-month transitional period has begun. NSW Fair Trading has introduced a flowchart to assist landlords and tenants to understand how the transitional measures may affect a tenancy agreement. Step 1. Establish if the tenant was COVID-Impacted during the moratorium period?

income or work hours due to COVID-19, OR

•

Col Myers, Small Myers Hughes

•

During the moratorium period, between April 2020 - 26 March 2021, did one or more rent-paying members of the household: •

lose their employment,

have to stop working or substantially reduce work hours due to illness with COVID-19, another member of the household’s illness with COVID-19 or to care for a household or family member with COVID-19? AND did this result in a reduction in the weekly household income (including government assistance) of at least 25 percent?

If so, the tenant was an ‘impacted tenant’. Did the ‘impacted tenant’ fail to pay rent or charges under their lease during the moratorium period that: •

were payable, and

•

were not paid (either with or without the agreement of the landlord), and

•

are still owing?

If so, these are ‘arrears”.

•

total amount payable

•

payment frequency and amount.

If no, the landlord may issue a termination notice or apply to tribunal for a termination order to end the tenancy. A landlord cannot issue a termination notice unless: •

if no repayment plan is in place, they have participated in the formal arrears repayment negotiation process in good faith; OR

•

if a repayment plan is in place, the tenant has missed more than two consecutive repayments; AND

•

it is fair and reasonable to do so.

•

In deciding whether it would be fair and reasonable, the Tribunal will consider:

•

the steps taken by the landlord and tenant to negotiate a repayment plan

•

any payments made by the tenant towards the arrears

•

the general financial position of, and any financial hardship experienced by, the landlord or tenant

•

the availability and affordability of reasonable alternative accommodation for the tenant; and

•

any special vulnerability of the impacted tenant

If the above applies, the transitional measures apply. Step 2. Have the parties negotiated a repayment plan between themselves?

Australian Resident Accommodation Managers Association is the peak industry body representing the interests of people who are involved in management rights.

For membership enquiries: national@arama.com.au | www.arama.com.au

1300 ARAMA Q (1300 27 26 27)

Step 2B. Use NSW Fair Trading Dispute Resolution (formal arrears repayment negotiation process). •

A landlord or a tenant can apply to NSW Fair Trading for assistance

•

NSW Fair Trading will request evidence to help parties negotiate the repayment plan.

Step 2C. Have the parties been able to agree to a repayment plan? If yes, the repayment plan documented should include: INDUSTRY

Decision and orders are then made by NCAT and if appropriate, the tenancy will end. ResortNews | May 2021

Mental health in the workplace:

A person’s home is usually the biggest investment they will make in their lives, so it’s understandable that emotions run hot when their lot or scheme is involved. Rightly or wrongly, body corporate managers often bear the brunt of owners’ frustrations and it can be difficult to separate the anger from the actual issue. At SCA (Qld) we care about wellbeing of our entire sector, including those working in, living in, or owning strata titled properties. COVID-19 has made us all a lot more conscious of our physical health and how healthy we are on the outside. However, this has caused some of us to overlook our mental health and sometimes take frustration out on others. COVID-19 has affected many of us, some positive, and some negative. Some of us have experienced strengthened relationships with family and friends, less stress, reduced commuting times and regular exercise regimes. However, there have been many Australians who have been impacted negatively through these restrictions resulting in exhaustion, increased stress, loneliness, or financial distress. During COVID-19, the expectations of body corporate managers only increased. Our professionals were required to decipher regulations and how they apply to bodies corporate without clear direction from the government applicable to bodies corporate. As residents were staying home more often, many facilities required additional maintenance or work. SCA (Qld) works hard to ensure ResortNews | May 2021

explore what better protection may mean in real terms.

James Nickless, President, SCA, Qld

that all members adhere to proper professional standards in an unlicensed sector, and we are advocating for further change to protect not only body corporate managers, but the body corporate committee members who volunteer their time to work for their scheme, and owners from bullying and harassment in strata. SCA (Qld) is a part of the newly formed Community Titles Legislation Working Group (CTLWG) which is aiming to tackle several advocacy agenda items – one of which will be to better protect against bullying and harassment in strata. This working group involves us working closely with the new Queensland Attorney-General, Shannon Fentiman MP, who attended our 2021 conference and set the tone for collaboration in the coming years. At our conference we made a statement to all members announcing our policies on unwanted behaviours, bullying, and harassment as a no-tolerance stance. It is great to see the new Attorney-General have such a large portfolio and strong activism against the various forms of bullying, harassment and discrimination.

In anticipation of legislative change further down the track, we at SCA (Qld) have now published two new best practice guides for all members to use in their workplaces. The first is targeted towards employers and recommends strategies and policies to implement to ensure employees have sufficient protections in place and how they can support those who may face bullying, harassment or discrimination in their day-to-day work. The second guide is targeted towards employees and gives best practice advice on dealing with bullying, harassment and discriminations, and also discusses how to deal with difficult customers they may come across in their employment. These guides help give members assurance on the procedures to make their workplaces a safe environment for employees and provides strategies on how to cope with any potentially toxic behaviours. We encourage all of our members to use our Member Assistance Program which provides all individuals under corporate memberships to access three

SCA REPORT

How we can work for a better sector

free counselling sessions a year. Over the last few years, client expectations across most industries have risen, and the anticipation of instantaneous responses can greatly impact relationships. As customer service representatives we must fight the urge to become defensive while listening compassionately and attempting to resolve problems in such a way that complies with the building by-laws, state law, and the complainant, as well as in some cases, a building manager and dozens of other lot owners. When put like this, it’s clear that it’s a tough ask, and unanimous approval is frequently unobtainable. The life of a strata manager or even caretaker can be stressful and full of pressure, but it can also be highly rewarding. While successfully working with members of different bodies corporate and receiving positive feedback can keep motivation levels high it’s important to realise that disapproval doesn’t necessarily mean that you’ve made a mistake. However, when the negativity does get to you and you inevitably take it personally, take some deep breaths, recognise that you’re good at your job, and remember that you’re not alone.

QLD - NSW - VIC - WA

We are currently in stage 1 of this CTLWG, with stage 3 commencing within the next 12 months. We are dedicated to improving the standards in the industry for everyone and we are now working to INDUSTRY

BCCM REPORT

Improvements to the common property by the lot owner Owners in a body corporate can make improvements to the common property for the benefit of their lot. While there is common property in all schemes, if your lot is part of a community titles scheme that is registered under a building format plan of subdivision, be mindful that a number of elements of the building are common property and, as such, require body corporate approval if your renovation impacts them. For example, if you want to install an air conditioner with a compressor on the outside wall of your unit, replace the current timber balustrade with a glass one, or change your sliding window to louvres, you will most likely require body corporate approval to do so.

Michelle Scott Commissioner, Body Corporate & Community Management

Section 187 of the Body Corporate and Community Management (Standard Module) Regulation 2020 provides that the committee can approve an owner’s request for an improvement to the common property if the: •

cost of the improvement is less than $3,000

•

improvement does not detract from the appearance of the lot or the common property

•

body corporate is satisfied that use and enjoyment of the improvement is not likely to promote a breach of the owner’s duties as an occupier (e.g. not cause a nuisance).

A motion must be considered at a general meeting and passed by ordinary resolution if the conditions above are not satisfied. The by-laws for most schemes (particularly those registered under a building format plan of subdivision) state that any external changes to a lot require body corporate approval or dictate specific colours and materials to be used. For

INDUSTRY

example, the by-laws might specify a particular shade of cream for your outside walls, dictate the height, colour and material for your fence, or require your roof to be made of tile. Provided the body corporates by-laws are not oppressive or unreasonable, they can impose conditions which may limit the ability of owners to freely renovate as they please.

Case study Karen is an owner in a highrise building that is registered under a building format plan of subdivision. Karen wants to paint the walls to her balcony black and replace her timber balustrade with glass. The rest of the building and balustrades are white. While the walls that she wants to paint are inside the boundaries of her lot and ResortNews | May 2021

technically hers to paint, as they are an external part of the lot, they are subject to the by-law for Karen’s scheme requiring approval for any changes to the external appearance of the lot. The cost of the painting is less than $3,000 and it does not detract from the appearance of the lot or the common property, as her balcony cannot be seen by anyone else in the scheme or from the common property. This means the committee can decide if Karen can paint her walls black. As the by-law does not dictate a colour scheme, it may be considered an unreasonable refusal by the committee if they do not approve Karen changing the colour to black. Karen also requires approval to replace the balustrade, as it is situated on the boundary of common property and the lot, which makes it part of the common property. The fact that the balustrade can be seen from the common property may factor into the body corporate’s decision. Karen needs to be aware that she may become responsible for the continued maintenance of the balustrade unless she is

excused by the body corporate.

Improvements to exclusive use areas by the lot owner Some lot owners have areas of common property that are attached to their lot by way of an exclusive use by-law. This usually means that the owner is responsible for this area and can make improvements to the area subject to the wording of the exclusive use by-law. The exclusive use by-law may authorise the owner of the lot who benefits from the by-law to make improvements. If the by-law is silent on the issue of improvements, the owner must seek body corporate approval to make any improvements to the area. The body corporate committee can approve up to $3,000 worth of improvements. If the improvement being requested is over $3,000, the decision must be made by passing a motion at a general meeting by ordinary resolution. The owner of a lot in this situation must also consider what the general by-laws for the

scheme provide. The exclusive use by-law might state that the owner of the lot to which it applies can erect structures such as pergolas. However, the general by-law might state that all external structures in the scheme must be made from coated metal. This means that while the owner may be able to erect a pergola in the exclusive use area without the body corporate’s approval, the owner must also comply with the by-law that stipulates that the pergola be made from coated metal.

Case study Bernice owns a lot that has an exclusive use area attached. She wants to paint the back wall of her lot, which is situated on the boundary of her lot and the exclusive use area. The by-law states that the wall is Bernice’s responsibility to paint. She wants to paint her wall purple which is different from everybody else’s wall. Bernice needs to consider both the exclusive use and the general by-laws for the scheme. She discovers that while the general by-laws do not state a particular

colour scheme for the buildings, any changes made must fit with the original colour of slate grey. Also, approval is needed from the body corporate to ensure that the colour chosen fits with the other lots in the scheme. This means that although Bernice does not need approval to paint her back wall, she must still seek approval from the body corporate for the colour. The body corporate decided that purple was a nice combination with grey and approved the colour choice. The fact that the back wall could not be seen by anyone else was another factor in their decision. The painting example has been used in all three of our case studies to highlight the fact that renovating in a body corporate is not always straightforward. What needs to be approved in one community titles scheme can be vastly different in another. It is good practice for owners to check their plan of subdivision to determine where their lot boundaries are and also confirm what by-laws (both general and exclusive use) apply to the scheme.

STRATA COMMUNITY EDUCATION SEMINARS New Meeting Processes Commence in 2021 Join us as law experts from across Queensland delve into the new strata regulations that commenced from 1 March 2021.

Management Rights Lawyers Management Rights

Juliette Nairn, Partner OMB Solicitors

James Nickless, Partner Chamber Russell Lawyers

Frank Higginson, Partner Hynes Legal

Chris Irons, Strata Advisor Hynes Legal

Jason Carlson, Partner Grace Lawyers

Buying (existing businesses and off the plan), selling, renewals, new agreements and dispute resolution

We have offices conveniently located in Brisbane and the Sunshine Coast.

FINAL TWO SEMINARS! Brisbane

5:30pm Wed May 19th

Broncos Leagues Club

Sunshine Coast

9:30am Sat May 22nd

Maroochy RSL

(07) 3226 3944

A recording will be available after all sessions have concluded.

Matthew Russell,

Vanessa Sciortino,

mjr@nicholsons.com.au

vas@nicholsons.com.au

Partner

ResortNews | May 2021

Hotels & Motels Franchised, leasehold or freehold Property All aspects of commercial and residential property

Special Counsel

www.nicholsons.com.au INDUSTRY

PERSON OF INTEREST

Stephen West A Qantas high-ﬂyer & the man who wrote the book about management rights... Grantlee Kieza speaks with Gold Coast-based industry veteran Stephen West. Q: In 2018 you wrote the book Professional Management Rights, why? A: I looked back on the industry and saw that there was no formal training for people wishing to enter the business other than some practical courses on things like how to clean a pool or “this is what you’ll find committees are all about”. So, I sat down to document everything that people needed to know from considering buying management rights all the way through the purchase process to Day 1 on the job. Volume 2 is in the wings, and that will cover everything you need once you are sitting in the chair running the property.

Q: There are so many questions people have about management rights...

Q: How did you know what to do when you started in the business?

A: A lot of people feel they are left high and dry once they start in the business, but I’ve included everything you need to know before starting. I’ve even included 400 questions to ask before handover. My book is broken down into modules. The second book will cover things such as managing staff and managing the business on a day-to-day basis.

A: I was a babe in the woods, but I educated myself. I went to the Disney Institute in Anaheim, and I did most of my financial training through universities. I have a master’s degree from Swinburne University which I did when I was 40, and I’ve done a lot of hoteltype training through American universities such as Cornell. Q: How did you start in the accommodation industry? A: I left Narwee Boys High in Sydney’s south in 1976 at the age of 16, and started at Qantas, training as an aircraft engineer. In those days Qantas still had two-propeller aircraft, DC4s that would go out to Norfolk Island and two little executive jets (British Aerospace HS125s) which they used for training the pilots when they moved from propeller aircraft to jets. One of the jets is still intact at Bowral on someone’s farm.

Q: So how long did that job last? A: I did five years on the ground, but I knew aircraft engineering wasn’t for me, so I went into passenger sales for four years, and then I thought ‘gee it’d be nice to be a flight attendant’, so I did that for 15 years, and worked my way up to being a flight service director. When I was 39, Qantas were offering voluntary retirements, so I left after 23 years to work for myself. Q: What did you do, then? A: I had two travel agencies, one at Corrimal north of Wollongong, and one at Riverwood in Sydney. Then I saw an opportunity on the Gold Coast with Poolwerx, who have a national franchise network for swimming pool maintenance. I thought if I’m moving to the Gold Coast that would be a great job, so I invested in the franchise and when I left four years later, I had six franchises, a shop and 13 staff. Q: That was quick work. A: At this point I still had no idea what management rights were, but I had become more involved in hotel pools, commercial pools, and council pools, and through that I started talking to property managers and understanding more about management rights. Coming from a hospitality background with 15 years in the air with Qantas, I thought this would be a good change. So, we purchased our first management rights which was called Columbia at Rainbow Bay next to Coolangatta. It was a 52-lot, 13-storey high-rise and that was my introduction to management rights. Q: So how did you know the business would take off? A: I could see there were certain income streams that weren’t being tapped into. I had lived

Stephen West

INDUSTRY

ResortNews | May 2021

out of a suitcase for 15 years in hotels for Qantas, and I’ve done about 55 cruises. I’d seen how ships can extract money from people when they are on-site. With some properties you have a captive audience, and you have the opportunity to on-sell and up-sell. We had Columbia for about four years and then sold it and took a year off and basically travelled on cruise ships around Europe, around the world. Q: Then you became managing partner at Turtle Beach on the Gold Coast? A: Yes, I was approached by Dreamtime Resorts in 2010. This was stepping into a role where there were 298 lots in a three-storey configuration, two restaurants and 100 staff. The previous owners had the property for nearly ten years. They were the original owners and it had one of the Gold Coast’s highest occupancy rates as well as being the highest reseller of theme park tickets. It was a massive business that I could get my teeth into. Over time we purchased the adjacent property, and we added another 150 lots to the business. It was a permanent-letting building, but we had the vision to increase our holiday letting because we could share our facilities through a body corporate agreement.

kids a day, with craft sessions, dancing, all sorts of activities. We took kids in up to the age of 12, and it gave the parents some respite as well. We even had an adults-only swimming pool. We mimicked what was happening in the cruise industry after I saw many good ideas on cruise ships. Q: You also worked for other properties during that time? A: Yes. I was also the asset manager at the Wave Resort at Broadbeach and Reflections at Coolangatta. I was involved in their strategy and business building, and I was also the asset manager for Belise apartments in Bowen Hills in Brisbane, which was 220 lots. I was the “go to” person from block of dirt to opening day.

Q: Tell us about your new role with Accor? A: In 2017 I started to run my own consultancy business, working primarily for body corporates doing mediation work. Caretaking agreements became my speciality. By 2019 I’d worked for myself for 22 years and I saw this opportunity with Mantra/ Accor. I looked at what the role entailed and it was exactly what I was doing myself, so I thought this was a great opportunity to get involved with a larger organisation. My primary role now is dealing with properties throughout Australia, doing their

Q: How many properties does that represent? A: On day one of the job I was given a list of over 100 properties. Q: That will keep you busy? A: I actively work with 60 of those and my role at the moment is to bring three Sebel properties on the Sunshine Coast into the group, ensuring that the transition from the model which they operate under, which was more hotel-based, aligns with ours which is more strata-based. Q: What do you do away from work? A: I’ve just started learning ballroom dancing, I do a lot of walking, and my daughter has just started a Bachelor of Education at Griffith University.

Q: You changed things around there?

Q: You’re an avid cruiser? What have been your favourite destinations around the world?

A: I was at Turtle Beach for seven years. I convinced the owners to spend $1million converting a full-sized tennis court into a water park and this was returned financially within 18 months by an increase in occupancy and higher room rates. As well, we purchased an apartment with a big garden area for a “kids club”. We were catering for up to 60

ResortNews | May 2021

compliance work, looking after their manager and caretaker agreements, ensuring good relationships between bodies corporate and management and resolving conflicts between the two transparently. I’m 61 now and I’m still learning on a daily basis.

A: Cuba. I loved it because it’s still back in the 50s. Oman, on the Arabian Peninsula, because it is such a beautiful location, and probably Norway above the Arctic Circle, where it is minus-18 degrees at Christmas time. So beautiful.

INDUSTRY

LEGAL EASE

Taking the R out of RAM At a recent industry breakfast hosted by Mahoneys a very interesting question was posed by one of the attendees. It related to a trend we are seeing more and more in the industry, the absence of any requirement for the building manager and letting agent (typically and traditionally referred to as the resident accommodation manager or RAM) to reside onsite. In such cases there ought not be an R in RAM. The manager and letting agent is just an accommodation or building manager. Is this a good or a bad trend? As many of the agents in attendance pointed out,

necessity to purchase a unit along with the business, not needing to in effect be on call and available at the complex 24/7 and the likelihood that the total hours to be worked will be less than those where the manager is residing onsite. Cynics might say that in such complexes the manager is less accountable. John Mahoney, Partner, Mahoneys

so many potential buyers of management rights are looking for a business without the residential requirement and such businesses, as well as being in stronger demand than the traditional businesses with such a requirement, are achieving higher multipliers. In the past, the opposite was the case. There are various reason why such businesses are more attractive including the lack of

If there are such benefits, are there any disadvantages? Arguably yes. Management rights, in comparison to most other businesses, command a very high price. Compare the multiplier used to calculate a medium sized management rights business of around 5 on net profit to that of a medium sized rent roll business of around 2.75 on just commission on rent collection. There are many reasons for that but two of the most important are the better position of the manager to let out units for owners and the certainty of a fixed term which is regularly “topped up”. But are these factors at risk where the manager does not reside onsite? One might well ask why a manager living offsite is in any better position than an offsite agent to procure and retain letting appointments from owners. A big selling point for a resident manager is that as a fellow resident the manager will be very careful about the types of tenants allowed to rent units and that the manager is always around the complex to deal with tenant issues as they arise, at whatever time of night or day. Regular top ups are not automatic and should never be taken for granted. Owners make that decision. A manager needs the respect and support of owners to secure a top up at a general meeting, a strong relationship with owners is critical. Where a manager works and lives onsite it is much easier to build and maintain those relationships, there are plenty of opportunities to be seen by owners working in and around

MANAGEMENT

the complex, to converse with owners, to do the odd jobs for owners and to generally get owners on side. A manager who does not reside onsite has, in comparison, much fewer such opportunities. As another attendee correctly pointed out at the breakfast, these things ought not and do not matter for a good manager who is genuinely concerned about the complex and who is performing the duties to a high standard. Such a manager will, through such performance, gain the respect, confidence and support of owners through doing a great job, both in caretaking and letting. To pick up on a theme adopted by Danny Little when speaking at recent ARAMA events, such a manager recognises that management rights is a service industry, not merely an investment, and that to be successful a manager must deliver a good service and give owners genuine value for money. A manager of the type described above will succeed whether he or she lives onsite or offsite. However, a manager who does not understand the importance of service, who sees the business as little more than an investment and who wants to live offsite to minimise the time taken to perform the caretaking role will almost certainly be disadvantaged by living offsite. The topping up of such manager’s agreements will be uncertain at best, unachievable at worst, something we are seeing more and more lately. Yet strangely it is these types of managers who seek out businesses without the residential requirement. So, whether taking the R out of RAM is a good or bad thing comes down to the quality of the manager. For good managers it offers genuine benefits with minimal if any disadvantages. For poor managers it may offer short term advantages but in the long term you can expect problems. ResortNews | May 2021

BY ALL ACCOUNTS

Selling your small business: the tax concessions Today I will be discussing what most of you will be wondering when contemplating selling your small business. Will I have to pay Capital Gains Tax?

Well, this depends on how you paid for the business and how much you end up selling the business for. The potential capital gain (or loss if you are unlucky) will also be reduced (or increased with a loss) by your associated purchase and sale costs eg. stamp duty, sales agents commission, legal fees and accounting fees. If after taking these calculations into account, you have made a capital gain then capital gains tax may apply. On selling a business, small and medium sized business owners may be able to access one or more of six tax breaks to reduce or eliminate the taxable capital gain that otherwise arises. Outlined below is a summary of the concessions and some of the important conditions that must be met to access them.

Pre or Post CGT Business? The first question to consider is whether the business commenced before 20 September 1985. If it did and essentially the same business has been carried on since inception, there is no capital gain on the sale of business goodwill.

On selling a business, small and medium sized business owners may be able to access one or more of six tax breaks...

Jonathan Hanaghan Director, Jonathan Grant Accountants

The general 50 percent CGT Discount Whilst not available to companies, a general 50 percent CGT discount is effectively available to all other business (and non-business) owners who have held the relevant assets for more than 12 months. Although a company selling its business cannot access this 50 percent discount, an individual shareholder selling shares in the company may be able to. Regardless of whether or not the above concessions apply, the remaining capital gain might be further decreased by the CGT Small Business Concessions.

be an active asset as opposed to a passive asset eg. Goodwill. The four CGT Small Business Concessions are: •

15 Year Exemption, a full CGT exemption on the disposal of a business held for 15 years. If this concession is not applied one or all the remaining three CGT concessions can be applied

•

50 percent Active Asset Discount, a further 50 percent discount on any capital gain. This means that if the general 50 percent discount also applies, the taxable capital gain can be reduced to 25 percent.

The CGT Small Business Concessions (SBC) To qualify for the “SBC” the small business owner/s must have turnover of less than $2 million or have a net worth of less than $6 million. The asset sold must also

•

Retirement Concession, to the extent any capital gain remains (say, 50 percent or 25 percent, as noted above), it is not subject to tax if it is paid into a superannuation fund, as a non-concessional contribution. This payment does not attract the 15 percent superannuation fund “contributions tax” but has a lifetime limit of $500,000. If the recipient of the remaining capital gain is over 55 at the time his/her tax return needs to be lodged, there is no requirement to cash flow any amount into superannuation to get this exemption. Though strict timing conditions apply, and care must be applied.

MANAGEMENT

•

Replacement Asset Rollover, finally, where the remaining capital gain (say, 50 percent or 25 percent, as noted above) is reinvested in a replacement active business asset/s, tax on the remaining capital gain can be deferred until the replacement active asset/s are sold. Beware though, as with the retirement concession strict timing conditions apply.

Summary: The interaction of the small business CGT concessions, other than the 15-year exemption, means that a small business owner could make a capital gain of $2,000,000 on the sale of the business and pay no tax in the year the gain is made. This is achieved by claiming the 50 per cent general discount, the 50 per cent active asset discount and the retirement exemption of $500,000. It may also be possible to access additional rollover deferrals. Whilst these concessions offer generous access to opportunities to eliminate capital gains on the sale of small and medium sized business, correct structuring, especially on establishment, remains critical. Business owners should always consult with their professional accountant prior to signing any purchase contract as getting it wrong initially can be infinitely more expensive than your initial consultation. ResortNews | May 2021

At times the market is a slow-moving beast, like a bus trying to complete a U turn. Other times it moves faster than Usain Bolt in the 100m sprint. Why is this? Human sentiment is ultimately the answer. But what affects human sentiment enough to change such huge things as global markets in minutes? Events that occur nationally and internationally play a significant role of course. Economic factors and obviously health factors are just two things that create changes in market sentiment and how people change their behaviour overnight (or much faster in some cases). The relevance to the markets we generally work or live within is what is of interest to most. One day things are quiet with limited activity and the next day without really seeing it coming, the phone is ringing off the hook. This can be the case for most businesses, no matter what business one is in. I am often asked the question of how long it takes to sell a business, in particular motels and caravan parks? The answer can be completely different from one month to the next depending on the market and how it is performing at that moment. Economics shows us that the demand for any product goes up, and consequently, must come down. One cannot exist without the other. Human sentiment and feeling about a particular matter or situation can change the course of activity almost in an instant. The simplest example of this is the share market. It can change in less than a minute from trending down to a complete upward spike on the back of one public announcement. It relies on the sentiment of investors for the gains or losses that are experienced every day. Good news equates to gains and bad news to losses. The change can be by the minute from one end of the spectrum to the other. Reserve bank announcements ResortNews | May 2021

At the time of writing, the motel and caravan park markets have now been able to gain some good traction… Andrew Morgan, Queensland Tourism and Hospitality Brokers

or commentary to a new US President being elected. Since the outbreak of COVID-19 around the world in late 2019 and early 2020, markets of all types have expected highs and lows. The Australian All Ordinaries at the time of writing, is currently trading above 7300 points. The market has had its ups and downs during this time but has made more gains than losses overall and as a result sits where it is at the moment.

to indicate that the new year would kick off with a flurry very quickly. This ended up being the case early on, but then activity started to drop off in February. The ups and downs of negative news reports and state dictated snap lockdowns helped to thwart any momentum that the market started to muster. Again, the ups and downs in change of sentiment based on exterior factors. At the time of writing, the motel and caravan park markets have now been able to gain some good traction and buyer demand

The residential real estate market reduced to next to nothing during the initial lockdown period has now bounced back to very strong levels not seen for a number of years. There is a six month wait to purchase a new recreational boat. The values of used cars have reportedly increased, again, all based on market sentiment. Without demand increasing, the prices and values cannot increase. The driving force is the demand for anything, creating or fuelling a market for it. That brings us to the accommodation industry and in particular, the market for motels and caravan parks, and where to from here… Early 2020 included the lockdown period and the sale of many business for much of the year was a non-event. There were the odd transactions that occurred, but very limited numbers. Those previously in the market were telling us they were going to sit tight for a while and just wait to see how things played out. The end of the year did start to throw up some green shoots and November was starting

MOTEL MARKET

Market moves is returning quite strongly. At this point, I can say that the immediate future looks good and the balance of 2021 very positive. Over the long term the market for accommodation businesses goes hand in hand with how the industry is performing. Based on strong trading performances and high demand for accommodation for most (but not all) regions, the future value of motels and caravan parks throughout Queensland seems very bright going forward.

Management Rights Lawyers Management Rights Buying (existing businesses and off the plan), selling, renewals, new agreements and dispute resolution

Hotels & Motels Franchised, leasehold or freehold Property All aspects of commercial and residential property

We have offices conveniently located in Brisbane and the Sunshine Coast.

(07) 3226 3944 Matthew Russell,

Vanessa Sciortino,

mjr@nicholsons.com.au

vas@nicholsons.com.au

Partner

MANAGEMENT

Special Counsel

www.nicholsons.com.au 19

THINKING MR

Too many cooks! The expression “too many cooks spoil the broth” was considered a proverb as early as 1575. The saying alludes to a situation where too many people involved in managing an activity can result in disaster. For example, an orchestra with no conductor can lead to every player having an idea about how a certain piece of music should go. A disorganised cacophony in the making for sure. Of course, the original expression alludes to a multitude of cooks adding something to a soup, which, in the final analysis, tastes awful. Consider the most literal example of how not to fall into this trap. I attend a fine restaurant wearing the attire chosen for me by the managing director and bearing the sunny disposition also demanded by ‘she who must be obeyed’. The person who took our booking seats us and explains the menu. Drinks are ordered and arrive poste-haste, as is the MD’s want. A food order ensues, is presented to the kitchen and magically the culinary delights appear. In the entire process there is scant room for error or miscommunication. Now, imagine if the person who took your booking never spoke to the floor staff. Imagine if the person who took your order passed that order to a third person who reviewed it, made clarifying amendments and took it to the kitchen. Imagine if the junior chef then commenced to prepare the meals and, upon some form of completion, presented the faire to the head chef for review. Imagine that the master chef wannabe was less than impressed and sent junior back to have another crack. Time passes and the MD becomes restless.

protection lobby has created a near perfect storm. Throw in the resources required to manage COVID driven borrower support and implementation of half thought through government backed business lending measures and the category 4 cyclone moves to category 5.

Mike Phipps, Director, Mike Phipps Finance

food you’ve ordered or when. While I think we can all agree that the chilled Dom Perigon ’95 should arrive in concert with the recently deceased crustaceans there is zero timing coordination and the whole sorry saga ends in a culinary debacle of epic proportions. Setting aside that somehow this will end up being my fault, it is clear that any process with too many steps is fraught with danger. This is particularly true of processes that demand some sense of timing and urgency. The really good food and beverage professionals have this down pat, the banks less so. To be fair the sad and sorry state of credit decisioning and service delivery within our banking sector is not entirely of their own making. The mountain of industry legislation and compliance combined with pressure from the consumer

Then, just as the storm can get no worse the regulators put the absolute frighteners up the lenders by dishing out punitive punishments for minor infractions just to keep the baying mob of offence seekers and consumer protectors happy. Within this framework the banks have adopted processes that make the previously mentioned culinary train wreck seem like a well-oiled machine. For some perspective let’s take a look at the life of a typical business finance application. Your broker prepares an invitation to tender for the business and sends said invitation with supporting documents and analysis to a range of lenders. The invited lenders react in various time frames demonstrating a range of service attitudes that go from encouraging to no reaction at all. Finance proposals start arriving while those lenders that have failed to communicate are chased and chased... and chased. A lender is chosen, and a formal application is lodged with the

The due diligence and verification reports turn up and the bank instructs a valuation. In a perfect world the valuer has already been briefed and provided with contracts. Best to have a head start but this level of file management is rare. In the interim various levels of work are being completed at the bank. These range from a full credit submission waiting to go as soon as the valuation lands to absolutely no prework pending the valuation. In many cases the file is passed on to a support person. That person may report directly to the relationship manager and be in the same office. They will probably know something about the industry and be able to make a reasonable job of assisting with the file. Sadly, in some cases the support person is part of a remotely located team and it’s potluck in terms of who picks up the file. At some point the proposal lands on a credit managers desk. Depending on the banks it’s been through up to five sets of hands with no guarantee that those hands communicate well or understand the specific industry. The credit manager’s knowledge of the file will range from having been fully briefed from the outset to zero. As is the way of credit managers there will be questions. Those questions will be posed to a bank employee who’s industry knowledge, credibility and courage to argue the point will range from hero to zero.

All the while the drinks order has been outsourced to a thirdparty beverage presentation manager who has no idea what

bank’s relationship manager. The manager, depending on the bank, reads the application and supporting documents in a timely fashion and asks any clarifying questions. That is the best scenario. The worst scenario and a popular option is to read nothing and wait for the verification report/due diligence/ valuation to arrive. By then finance is looming and the bank have done zero in preparation for submitting the deal to credit.

With any luck, after finance extensions and much stress, an MANAGEMENT

ResortNews | May 2021

The mountain of industry legislation and compliance combined with pressure from the consumer protection lobby has created a near perfect storm...

approval will be forthcoming. Sometimes it looks like the original bank quote, sometimes we wonder if we ‘ve had the right deal ticked off. The approval gets discussed and sometimes amended but mostly it stands regardless of what undertakings were made at the outset. Our client accepts the offer and goes unconditional. With a bit of luck the bank don’t surprise us with a whoops, need to get our lawyers to review the agreements after our client is unconditional. It happens. The file now heads off to the bank’s loan documentation area and at some point, documents arrive. They are executed and head back to the bank where

ResortNews | May 2021

they are checked by the securities and settlements team. At last, settlement can be booked in. Now, provided the outgoing bank haven’t lost any original documents that are required at settlement and haven’t dragged their feet on preparing security releases we are half a chance of actually settling. It’s a miracle! Not all of this is the fault of the poor buggers on the front line. What we are witnessing is the outcome of a combination of factors. Certainly, COVID has impacted workplaces and the banks are no exception. That said, business lending managers in many banks have long been under-resourced and have insufficient authority to make

things happen. There seems to be a growing tolerance at senior management level for poor service as those same senior managers cut staff in a quest for so called efficiencies. Lenders are terrified of offending the law makers and vested lobby interests and have implemented policies and systems in an attempt to make lending as compliant and risk free as possible. The problem is that no one seems to have thought of the end user in the implementation plan. Back in the day when I worked at the bank we met the client or broker, took the application, read everything as it arrived, briefed our locally based credit manager

MANAGEMENT

if the deal was outside our authority to approve and kept a very close eye on the finance date. We each had a support person in the next office, and we worked the files together. We knew the industry back to front and our credit manager knew that. If we missed a finance date that was a serious matter and my boss didn’t hesitate to let me know of his displeasure. It’s not the cheapest service delivery model but it’s the best. I wonder if any of the lenders implementing efficiency strategies will have the courage to offer a full-service guarantee option and charge for it. I wonder if the average Aussie borrower would pay for it. I would.

INSURANCE MARKET

The impact of COVID-19 on the insurance industry Photo by Ulises Baga on Unsplash

Resort News talks to Christopher Traill, Executive Account Manager, EBM Insurance & Risk about the hardening insurance market. He told us: The insurance market is cyclical and at the moment it is firmly in the ‘hard’ stage. This means it is increasingly difficult to secure cover at renewal time or when taking out new policies. Several factors have contributed to the hardening of the insurance market in recent years including recent natural catastrophe claims, recessionary economic conditions, increased litigation, poor investment returns and most recently, COVID-19. Despite the challenges, there are ways to help get the cover your business needs.

What does the hardening insurance market mean for businesses? In terms of the impact on policyholders, a hard market translates into increased

for commercial insurance globally rose 16% on average in 2020. Market sentiment has been transformed by fear of ‘(un)known unknowns’ in a highly uncertain and volatile environment. As a result, higherrisk businesses are finding it increasingly challenging to obtain suitable policy wordings and adequate capacity. Chris Traill, Executive Account Manager, EBM Insurance and Risk

premiums, less competition among insurers, narrowing of coverage, toughening risk criteria, insurers exiting certain lines/classes, extensions being dropped, fewer policies being written, conditions and warranties being more onerous, and renewals taking longer. While some insurance lines have been hit particularly hard by the current conditions (Directors & Officers, professional indemnity, construction, cargo, property, umbrella liability, financial lines), securing new policies and renewals across all classes has become difficult. According to Lloyd’s broker Howden, pricing

What can business owners do to have the best chance of securing the cover needed?

•

Choose the right insurer •

Work with your broker where an insurer or underwriter understands your business’ risk profile and can help you achieve optimal terms

•

Your broker can guide you on which insurers are the best partners for your business:

•

Provide guidance around any restrictions of cover and insights into how particular insurers manage and settle claims.

•

Price should never be the only factor - insurers’ reputation, ethics and claims response and management are critical.

There are several things you can do to secure the cover you need for your business.

Start early •

Have a clear strategy for what you want to achieve

•

3–4-month lead time for renewals is advisable

•

Any request for new cover should be made as soon as possible

•

Have a contingency plan in place well ahead of renewals falling due to avoid risk of being uninsured

MANAGEMENT

The sooner you engage your broker, the more they will be able to do in terms of program design, policy coverage, structure, choice of insurance markets and review risk appetite.

Be prepared •

Insurance is all about risk

•

Evaluate and demonstrate ResortNews | May 2021

processes and systems within your business are not too great a risk for the insurer to take on •

Be prepared to answer in-depth questions about the business (and yourself)

•

Provide documentation to back up your position, such as recent and accurate valuations/appraisals

•

Insurers will look at your risk management and how you execute this – work with your broker to effectively present underwriting information.

Be ﬂexible There may be options to discuss with your broker: •

increase excesses (risk appetite)

•

restructure a limit (primary and excess layers)

•

consider alternative markets or structure.

The more flexible you are, the more likely your broker will be successful in obtaining cover on the best terms possible.

Work with your broker The extent that a new policy or renewal will be affected by the hard market will depend on: •

your business’ risk profile (current)

•

claims record – historical (5 years minimum)

•

strategies for risk management (future)

•

the capabilities of your insurance broker (market influence).

Working collaboratively with your broker, being proactive and involved in the process, ResortNews | May 2021

While some insurance lines have been hit particularly hard by the current conditions securing new policies and renewals across all classes has become difficult. will help ensure your business is well placed to secure the cover you need.

How has the insurance market been affected by COVID-19? It has had a significant impact on key product lines, among them Business Interruption (BI) cover, where most BI policies written in Australia contain exclusions relating to losses caused by quarantinable or infectious diseases. There is now some uncertainty about outdated wording in pandemic exclusions – what might this mean for some businesses? The majority of BI policies written in Australia contain exclusions relating to losses caused by quarantinable or infectious diseases, meaning most BI policyholders have not been able to claim for financial losses incurred during the pandemic. However, there is uncertainty about some outdated wording in pandemic exclusions. In August 2020, a test case was brought before NSW Supreme Court by the ICA and Financial Complaints Authority (AFCA) to resolve the uncertainty. While the test case ruling found in favour of the insureds, not every

BI claim will be accepted. Each claim will have to fall within the constraints and confines of the policy wording, and the trigger for the claim will have to be within those parameters. A second test case began in Australia in February 2021 to cover the issues not covered previously. The latest test case will focus on determining the meaning of policy words related to the definition of a disease, the proximity of an outbreak to a business, and prevention of access to premises due to a government mandate. The full impact of COVID-19 is still being worked through

and may take some time. Until such time as the position on the policy ruling is clarified, we encourage our clients to keep any documents (that relate to the closure of your business and income and/or losses suffered during that period) safe and ready to be submitted to insurers. This may be the data you have on your business reporting system (like MYBOS or similar) or alternatively, data from your accountant that would enable you to prove an accurate figure of loss. The test case rulings may take time to reach a resolution stage and preserving evidence is important. If you have any questions, please contact EBM Executive Account Manager, Christopher Traill.

About EBM Insurance & Risk EBM Insurance & Risk oﬀers Management Rights business owners a specialist division dealing in insurance for the industry. Based in Queensland, we understand the requirements and demands of the industry; our aim is to ensure you have the right cover in place at the right price.

Contact your EBM Management Rights insurance specialist for more information. Christopher Traill Executive Account Manager 0413 758 654 1300 755 112 | ebm.com.au

We’ve got you covered AFSLN 246986 ABN 31 009 179 640

MANAGEMENT

INTONET

Is that it? Is this a sign of the times or am I just losing touch? Like most of us, the use of online purchasing has become routine and almost a necessity and in that regard I do not differ. A particular piece of furniture which was well loved by my friend Muddy and I was reaching the end of its life; for no other reason except that the material used in its construction was of a poor quality and had not lasted the hundred plus years I had expected. The first port of call was, obviously, my trusty computer and Google. After a lot of scrolling the latter produced answers to what I was looking for. In this case the source for my new piece happened to be Amazon, which is not my favourite emporium, but it appeared to lead to the only source for what I wanted.

BUILDING RELATIONSHIPS

So off to Amazon and the suppliers page to find that what was on offer was in black but I wanted a white one. As always there was a little box

their question and if I persisted, they would advise Amazon of my unacceptable behaviour! Over the following days I received a few more demands for an order; these I ignored but closed the transmission via Amazon’s system and that hopefully appears to be the end of it.

Arvo Elias, Cybercons

to forward questions to the digital storekeeper. So, I typed in a very simple line of text: “Do you have a white one?” Fairly plain and simple English which is a wise move. Experience has taught me that many of these suppliers have difficulty with our language. A day later I had a reply. They told me that it was a high quality unit, gave me its dimensions and asked how many black ones I wanted? Oh dear! My reply was again simple enough: not black only white please. The response was a lulu! Why could I not answer

The point of my story is to wonder why such unacceptable and aggressive marketing even exists never mind it’s acceptability by the platform provider. Obviously, it was not a language issue judging by their replies. The episode was a great example of how not to do business and, as in my case, raise the buyers steam pressure. A few days later I had the opportunity of entering a real bricks and mortar store to replace my phone cover. There were many on display so that impromptu stop was one of those serendipitous happenstances. The store was bright and welcoming with two attendants at the rear of the shop deeply

immersed in a conversation. Both looked at me but continued with whatever they had to tell each other. It must have been quite a tale because there was a lot of merriment involved. I stood at their display cabinet and waited. And waited and then waited some more despite only being about three metres from them. I decided to approach them which was obviously a preprogrammed trigger for both of them to disappear into the back room, possibly to never appear again. Certainly not during the minute or so I spent piously living in hope and waiting for at least one of them to reappear. I left the store wondering whether my appearance was possibly so terrorising that these attendants decided to flee in such a haste. But then again nobody else in the shopping mall reacted like that when I walked past, not even young mums with pushers. Had these guys ever done a sales course? They missed a brilliant opportunity to not only sell what I had come for but to up sell or

Feedback is a gift Positive or constructive (I do not like to call it negative) feedback can be the turning point in a business’s success. Let us start with the more uncomfortable conversation first, constructive criticism and how to deal with it. To me any feedback is great feedback, it shows that someone has taken the time out of their busy day to communicate with you about your business. As I am sure you are all aware by now, I am somewhat of an optimist and like to think that when people are leaving a comment or passing on their opinions that it is ultimately coming from a good place. My husband would argue that some people are

comment, read it, walk away, breathe, and read it again. Always try to take the personal out of it, as hard as it is. Do not rush to react - this is a big one.

Kelley Rigby, Managing Director, Letts Rebuild

simply rude and obnoxious, no doubt some of you are nodding your head in agreeance. The most productive way to deal with constructive criticism is to listen intently to what your client/consumer is telling you and offer a solution. If this feedback is in an email or

Emotions can be at an all-time high when someone is sharing their opinion on a business you have worked extremely hard to build. My biggest tip is to take an hour, or 24 hours if needed and when you feel you are in a better head space, respond. If it is a face-to-face conversation, I would keep my lips sealed and listen. Once the client/customer had finished speaking, I would first thank them for their feedback and ask them extremely politely if they could send it in an email, so you are able to rectify all issues.

MANAGEMENT

This gives you time to stop breathe and not rush to react. When responding always ensure you thank them for taking the time, give them a solution and or an apology if applicable. If you know you are in the wrong throw that hand up and own it, people respect that so much more than someone who is full of excuses. Offer the client something if you feel the situation calls for it, for example if it is a landlord who feels you have not communicated frequently enough with them over the last six months, I would apologise and give them 3 months free commission, and obviously start communicating with them more regularly. All clients have different expectations, needs, and wants. ResortNews | May 2021

cross sell. With both working in tandem they could have pulled the Laurel and Hardy trick of one reinforcing the others prattle and making it sound more believable. Almost impossible to lose a sale! The next episode shattered me completely. An old acquaintance called to tell me that he had finally sold their small B&B business. I congratulated him but was cut short when he asked if I could look up their web site while he was on the phone. Yes, I could, but instead of a serene country scene and pictures of the cabins he had to rent I was confronted with a page showing a lady having a shower with the catch phrase of “Your Next Holiday…. and we do negotiate your price” followed by a phone number. The new owner obviously wanted to get right down to business, had got himself the free version of a popular DIY web site generator and replaced what had been there. But did this page sell? I will not insult you by debating the obvious. Is this what the new world was coming to? Really? My next foray into the commercial world was to sort out a problem with my credit card.

Having changed my password, I got myself into a curious bind. I could log onto my account via my phone but not by using my computer. This particular card provider is super cautious with security issues and had me jumping through a variety of digital hoops which finally caused the account to be locked. The only option was to pick up the phone and groan in anticipation of lengthy delays, the norm these days, and listen for ages while being told endlessly how much my business

was valued by them. I am sure you understand these joys! But no! This was my lucky day. A charming young lady listened to my peculiar tale of woe and reassured me that the solution was simple if I could answer a few security questions. I do not know what she had on her computer screen but with a smile in her voice I was assured that she could resolve the issue. Not only that but she also offered her companies apologies because she could see that the fault was actually

caused by their system. A few key strokes later my account was operational, I was politely asked if she could be of further service and then wished a good afternoon before hanging up. All these stories are true, and I am sure you understand my point. What does confound and concern me is that 75 percent of my tales demonstrate a lack of people skills and abysmal awareness of the art of selling. I certainly hope that this is not all there is!

Always be grateful that they are giving you the opportunity to rectify it and not simply taking their business elsewhere. Clients are key to a happy and successful business.

the person, remember they have taken the time to give you that pat. If you feel the situation calls for it, send the person a gift or a card for speaking such kind words about your business.

A quick one for our beautiful holiday buildings, I cannot stress enough how important is it to respond to every negative comment on social media.

My next step would be to market it to death. Send it out to every owner in your building/complex, tell them how great people think you are. Word of mouth is still the best marketing tool in my opinion.

Your potential customers will scroll through your reviews purely to see the 1-star comments and how you responded. I asked some of my nearest and dearest about their process of finding a good place to stay/restaurant/café/ hairdresser and 9 out of my 10 explained they scroll through to find a constructive review to see the response before looking at the positive! When responding always remember that if that person feels their experience was not up to the standard they ResortNews | May 2021

Tips:

expected, it is your opportunity to turn it all around. An idea would be to offer them a half price night stay, this encourages them to return to your building and gives you the opportunity to turn them into a fan.

Let’s get positive. Everyone likes a good old pat on the back from time to time. It makes us remember why we do what we do and why we love it so much. When receiving positive feedback always ensure to thank

MANAGEMENT

Take your time to react, try to take the personal out of it, have the mindset that people are trying to help you succeed, if you are in the wrong throw that hand up high. Please do not think I live in a delusional world where no one is being purposely hurtful (my husband ensures I do not). The aim for this article is to assist you in sifting out the good from the bad.

GOOD GOVERNANCE

Caretaking services providers:

Projects for winter Well, the grass doesn’t grow so much in the winter, so what else can we do to keep warm through the cold season?

Australia has a love affair with gardens and lawns

Winter is a timely season to get on top of some backlog of periodical maintenance tasks as well as preparing lawns and gardens for the high growth spring and summer seasons.

Lynda Kypriadakis, Diverse FMX

Australia has a love affair with gardens and lawns. Be the envy of your neighbourhood and the pride of your complex by preparing your lawn, gardens and potted plants to look magnificent in spring and summer.

winter and spring. Patches are generally yellow to bronze in colour and sometimes with a pinkish tinge, generally less than 200 mm in diameter. Turf with a heavy thatch is most susceptible to this disease. The disease favours cool moist weather, so keep lawns mowed and clippings removed to help keep this disease at bay.

Lawn maintenance in the winter months The lawn may not be growing as fast as it would in other months, however it still needs a great deal of TLC. Lawns are prone to winter diseases, such as: •

Winter Fusarium - can appear in grass as large or small patches in autumn,

round patches measuring between 200mm and up to a metre in width, that are enclosed by a darker colour. Typically, this disease infects lawns that already have poor lawn health. You will see this problem affect lawns during late winter and spring, so keep up the good lawn care all year round to avoid this disease.

•

Brown Patch - this lawn disease is characterised by the round, dying areas in lawns. You will notice

•

Dollar Spot - as its name suggests, the appearance of this disease in your lawn is usually identifiable as dollar sized spots of discoloured grass appearing within your lawn. Up close, the discoloured leaves will have straw-coloured lesions with red/brown edges to them. A well-maintained lawn will

recover from this disease much faster, so keep up the mowing, thatch removal, fertilising and water. •

Anthracnose Disease - a lawn that has been infected by this disease will have yellowish grass with red lesions. Upon close visual inspection, you may notice black fruiting bodies on the leaves. This is a fungal disease and grass will need to be removed to fix.

Excellent photos of these diseases can be found on the internet. Essentially, if there are brown spots or patches on your grass, you have a disease. Have a look online to identify your disease and get started on your treatment program.

Photo by Trung Thanh on Unsplash

MANAGEMENT

ResortNews | May 2021

Lawns will not need as much mowing in winter, so take the time to aerate the soil and remove weeds from the grass. Fertilising in late winter (i.e., August) will prepare for the burst of spring growth you can expect around September.

are dirty or covered in dust, so winter is important to clean dusty leaves. A shower with the hose is a great idea from time-to-time.

Pot plant care in winter

Pool care in the winter

Potted plants will also need a change of routine in the winter, again, maybe not as much water and fertiliser (because they are not growing as much) but more humidity if they are located indoors. Try using a spray spritzer to keep the humidity up.

No time like the winter to give that pool equipment shed a jolly good clean out. Update your MSDS Register while you’re at it and consider getting your vacuum equipment updated if its dated and in need of repair. There may be less chemical dosing required, but don’t forget the maintenance of the poolside furniture. Oiling, staining and/or painting furniture items may be a good way to score points with the Body Corporate, provided you possess the skill to do a good job.

Potted plants may not like winter drafts either, so just make sure you move them if they are too exposed.

You may need to move your pots if they require more sun in the winter. Don’t think about repotting until spring comes around but do consider taking cuttings for next year. Winter is a great time to pot cuttings. Dusty leaves are a problem on pot plants. Plants produce oxygen, reduce airborne bacteria, remove harmful toxins from the air and also have a positive effect on our moods. It might not seem a big deal, but these effects can be massively reduced if plants

Carpet care in the winter Caretaking success is made on the back of your gardening and cleaning abilities. Nothing suffers more internally than the common property carpet during the dirty winter months,

however the key to success is ensuring the outside is clean so dirt is not trapped inside. Be careful when installing mats on the common property. It is unlawful to install a loose mat in a fire escape pathway (slip/ trip hazard). If you are installing mats to wipe feet, make sure they are permanently adhered to the ground, or preferably, recessed inset mats that keep the floor level maintained.

Other maintenance tasks to consider There is probably a long list of periodical tasks to tackle during the winter months as a quality Caretaking Services Provider, but here are a few for the ‘To do’ list: •

Clean out the plant rooms, riser cupboards and storage areas

•

Clean out the garden equipment and chemical storage shed

•

Clean out the perimeter drain in the basement carpark

•

Wipe down the electrical cabinets, overhead pipes

(not fire pipes!) and power points in the basement •

Clean the ‘tide marks’ off the skirting areas of the walls

•

Get the common property drapes and upholstery items dry cleaned

•

Do paint touch-ups between 10:00 am and 2:00 pm, the optimal temperature is 24 degrees for painting

•

Get rid of old chemicals in the storage areas and update the MSDS Registers

•

Sweep out the fire escape stairs

Plan toward spring and storm season Winter won’t be around for long so make the most of the cooler weather to undertake these maintenance duties while it’s nice and cool, especially in the plant rooms, stairwells and basement carpark areas that can be like a sauna during summer. It won’t be long before winter is over and you will be turning your attention to the spring growth season, summer pests, pool duties, and lawn mowing headaches!

PROGRAMME

This months suppliers to the programme STRATA COMMUNITY EDUCATION SEMINARS New Meeting Processes Commence in 2021 Join us as law experts from across Queensland delve into the new strata regulations that commenced from 1 March 2021.

ASBESTOS REMOVAL

Zero Asbestos

BATHROOM RENOVATIONS

Shower Sealed

BODY CORPORATE MANAGERS

Body Corporate Services

MANAGEMENT RIGHTS AGENTS

Resort Sales

PAINTERS & DECORATORS

PR Painting Brisbane Texspec Pty Ltd

SOLICITORS

Flood Legal Small Myers Hughes

Juliette Nairn, Partner OMB Solicitors

James Nickless, Partner Chamber Russell Lawyers

Frank Higginson, Partner Hynes Legal

Chris Irons, Strata Advisor Hynes Legal

Jason Carlson, Partner Grace Lawyers

FINAL TWO SEMINARS! Brisbane

5:30pm Wed May 19th

Broncos Leagues Club

Sunshine Coast

9:30am Sat May 22nd

Maroochy RSL

All Preferred Suppliers have been recommended by other accommodation properties for their service and have qualified for inclusion in the programme. The next time you need to use a new supplier, why not make life easier and use a Preferred Supplier.

A recording will be available after all sessions have concluded.

ResortNews | May 2021

MANAGEMENT

To find a Preferred Supplier see the directory in the back of this issue

TOURISM REPORT

The Coast with the most By Grantlee Kieza, Industry Reporter

The North Coast of NSW has remained resilient throughout the COVID pandemic and is expected to lead the way in the recovery and growth of that state’s visitor economy.

Byron Bay and Tweed Heads represent the last legs of Visit NSW’s five-day “Legendary Pacific Coast” drive from Sydney that includes a pitstop in Bundjalung National Park, with its tranquil river scenery, secluded beaches and freshwater lagoons.

Just as sunlight and fresh air are the natural enemies of the virus, so they remain magnets for visitors to the coastal area from Tweed Heads at the southern tip of the Gold Coast, to Byron Bay, Australia’s most easterly point.

The Minyon Falls lookout offers unforgettable views of the 100m waterfall and rainforest below.

The NSW Minister for Jobs, Investment, Tourism and Western Sydney, Stuart Ayres told us: “There’s no doubt that the past 18 months have had a significant impact on our state’s tourism operators, but we have all worked incredibly hard to keep our community safe so we can all enjoy the great state of NSW.

Less than an hour north, Tweed Heads remains something of a hidden gem, with uncrowded beaches, great surf breaks and the exceptional Tweed Regional Gallery and Margaret Olley Art Centre, in nearby Murwillumbah as well as eco tours along the scenic Tweed River, oyster farms and succulent mud crabs plucked straight from the river.

“Regional NSW, and the North Coast in particular, has remained incredibly popular throughout the pandemic and we expect it will play a vital role in the recovery and growth of our state’s visitor economy. “Regional overnight expenditure

is anticipated to contribute $25 billion to NSW’s visitor economy by 2030.”

The dazzling coastline includes a visit to Cape Byron Lighthouse and offers whale-watching and dolphin cruises.

Mr Ayres confirmed: “The NSW Government and its tourism and major events agency Destination NSW continues to promote COVID-safe NSW travel and the many amazing experiences on offer right here in NSW.”

He said: “We are actively encouraging residents and visitors to give visitor economy businesses a much-needed boost by visiting, staying overnight and spending in our regions through our Love NSW road trips marketing programs which include the Legendary Pacific Coast and Rainforest Way itineraries on the North Coast. “Many aspects of our lives have changed this year and how, and where, we travel is high among them, but it has created a unique opportunity for local travellers to discover the many hidden gems and unforgettable experiences that NSW has to offer.” Data from Tourism Research Australia’s International and National Visitor Surveys show that the North Coast is regional NSW’s number one destination for domestic overnight visitors and visitor expenditure. In the year ending September 2020 (the most recent statistics available) NSW’s North Coast welcomed 10.9 million overnight and day trip visitors (down 26.4 percent year-on-year) who generated $3.6 billion in visitor expenditure (down 26.8 percent year-on-year) for the local visitor economy. Prior to the pandemic (the year ended December 2019)

TOURISM

the North Coast received 15.3 million overnight and day trip visitors who generated $5.2 billion in visitor expenditure. The most recent statistics show that 70 percent of the visitors to the NSW North Coast come from within the state. Adult couples formed the major visitor segment. Almost 90 percent travelled there by car and their preferred activities were eating out (60 percent), going to the beach (52 percent), visiting friends and relatives (40 percent), sightseeing (28 percent) and going to pubs and clubs (27 percent). In March, Virgin Australia launched flights between Melbourne and Ballina/ Byron Bay in a boost for business and leisure travellers. The carrier operated the new route six times per week over the busy Easter holiday period and planned to continue the schedule until April 25. Virgin Australia General Manager Network and Revenue Management, Russell Shaw, said while the flights were initially operating for a few weeks, the airline was buoyed by the demand for the services and is actively reviewing the potential to extend them into other holiday periods throughout the year. ResortNews | May 2021

Photo by Photoholgic on Unsplash

Whitsundays, Hamilton Island and Alice Springs are the top trending destinations for Autumn and Winter escapes Aussies are choosing holidays that make them feel as though they are overseas suggests a new report by Skyscanner. The independent snapshot was taken of over 1000 Aussie travellers and reveals the latest Aussie travel trends for this Autumn and Winter. Based on March travel behaviour on Skyscanner the picture of hot spots and travel trends in 2021 looks very different than the previous year. Where’s ‘HOT’? Aussies have switched city hustle and bustle for island life and roads less trodden: Whitsundays, Hamilton Island, Alice Springs are the top trending destinations between June and October 2021. Couples are switching Rome for Cairns and a romantic

Photo by Simon Rae on Unsplash

trip to Venice for Broome while international travel restrictions continue. Families and groups in search of sun are trading destinations like Phuket and Bali for Cairns, the Sunshine and Gold Coasts and families are finding island life equivalents on paradise island Hamilton Island instead of Fiji. The top trending searched for destinations for all Australian travellers are: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

research shows there is pent up wanderlust with 37 percent of those surveyed saying the culture and experiencing new things to do on holiday is impacting their destination preferences. This desire to get out and explore has led Aussies to re-imagine their bucket list travels for the time being and reconsider the incredible destinations closer to home. “There are few places better to escape the hustle and bustle

Proserpine (Whitsundays) Hamilton Island Alice Springs Broome Darwin Hobart Cairns Adelaide Gold Coast Kuala Lumpur

Paul Whiteway, Head of Asia Pacific Region at Skyscanner said: “Australia is a nation of travel lovers and whilst restriction-free international travel is off the cards for Australians for the time being, our travel data reveals domestic travel is booming. Our new

Photo by Ennio Brehm on Unsplash

ResortNews | May 2021

of the city and explore roads less trodden than Australia’s Northern Territory. Or for that tropical island and white sandy beach fix travellers are looking to Whitsundays and Hamilton Island for some much-needed wanderlust. Where measures have been announced providing clarity on dates and restrictions, we have seen direct correlations with interest for example with the recent New Zealand travel corridor.”

Photo by Tommy Pequinot on Unsplash

TOURISM

TOURISM INTERNATIONAL

Singapore bubble just a jab away

Photo by Joshua Ang on Unsplash

By Grantlee Kieza, Industry Reporter

A COVID vaccination is likely to be mandatory for anyone partaking in the proposed SingaporeAustralia travel bubble. The bubble would allow residents to travel between the two countries without the need for quarantine. A two-way travel bubble between New Zealand and Australia opened in April, allowing passengers to move quarantinefree between both countries for the first time in more than a year, but Australia’s slower than expected vaccine roll-out could delay the bubble with Singapore which has been mooted for July. Singapore hasn’t had major community transmission of the virus since emerging from a twomonth “circuit breaker” lockdown last June, and currently allows visitors from low-risk countries such as Australia, Brunei, China, New Zealand and Taiwan to fly in and only have to isolate for the few hours it takes to return a negative COVID-19 test. Tourism Accommodation Australia CEO Michael Johnson said a return of travellers from Singapore would be a welcome relief for Australia’s struggling CBD hotel sector which had seen occupancy

rates decimated mid-week. A long-awaited bubble between Singapore and Hong Kong will finally open on May 26. Singapore Tourism Board chief executive Keith Tan told The Sydney Morning Herald that “it was a signal to the world that Singapore was already prepared to open our borders in a safe way and a considered way. “We were not throwing up high walls.” After the opening of the travel bubble with New Zealand, Singapore had been suggested as next cab off the rank for Australia. But with the vaccine rollout going slowly in Australia, Singapore is not holding its breath. “(To say) how confident we are... it all depends on the Australian government because we’ve opened up to Australia,” Mr Tan said. “We’ve likened it to a dance. In order to dance, you need two people to dance together.” Singapore’s outbreak peaked at more than 1000 new COVID-19 cases a day last April, but it has been one of the few countries in south-east Asia not engulfed by a new wave that has swept through the region. Australia has announced the suspension of passenger flights from India until at least May 15.

It is likely that Australians would be allowed to travel to Singapore for work or leisure without approval from the Department of Home Affairs, provided they have been vaccinated. New Zealand could also be involved in what would become a three-way travel bubble. Trade Minister Dan Tehan and Government Services Minister Stuart Robert are said to be driving the plan and leading behind-the-scenes policy work. Mr Tehan confirmed he had held discussions with his Singaporean counterpart Chan Chun Sing about the plan and said Singapore was “very keen to work with Australia on a proof of vaccination certificate and we agreed our officials should work together on this.” Under the plan, Singaporean nationals who have had their vaccination would be able to travel to Australia for work, study or holidays without having to complete two weeks’ hotel quarantine.

countries – Qantas, Singapore Airlines, Cathay Pacific and Air New Zealand – it would be a big step forward to resuming normal operations. For Qantas and Air New Zealand, flights to Singapore and Hong Kong are normally a big part of their international operations. Australia’s current ban on overseas travel means citizens can still only visit Singapore with an exemption from the Department of Home Affairs. Cairns management rights expert Calvin Bailey said the prospect of travel bubbles with major centres in Asia, would do wonders for the tourism sector in Far North Queensland after border closures were estimated to be costing the Cairns and Great Barrier Reef region more than $8 million a day in lost revenue. “Hopefully, vaccinations will see a big increase in tourism to our area,” he said.

It could also be possible for people from third countries to enter Australia via Singapore after completing two weeks’ quarantine in the city-state.

“It should mean there won’t be quarantine requirements with New Zealand and hopefully after that we likely get tourists from Singapore where COVID seems to be under control.

Hong Kong is also looking at a travel bubble with Australia, and for the airlines that fly the routes between these

“Progressively our tourist numbers will improve as the rest of the world starts to get immunised.”

TOURISM

ResortNews | May 2021

How does relaxing at a luxurious Maldives haven with time to heal from the stress of a pandemic sound? If it sounds anything like heavenly harp music to your ears, then read on... The 5-star Dusit Thani Maldives resort invites guests to rest and explore Thai healing philosophies in a perfect sanctuary for those seeking relaxation and rejuvenation.

Connect with yourself

at Dusit Thani Maldives

Located on Mudhoo Island, Baa Atoll, this tropical island paradise is where gracious Thai hospitality meets unparalleled luxury and natural beauty.

THE LAST RESORT

By Mandy Clarke, Editor

The island is the Maldives first and only UNESCO World Biosphere Reserve and sits just 35 minutes by seaplane from the capital city, Malé or a 25-minute domestic flight and 10 minutes by speedboat from Dharavandhoo Airport. Guest to this resort can select their perfect private paradise from a collection of residences, all with elegant Thai interiors, contemporary conveniences, and even butler service. The resort offers lavish beach hotel accommodation, over-water villas and sumptuous residences, here guests can experience island adventures and appreciate the abundant marine life, they can also enjoy fine dining and ‘find themselves’ again in the newly opened holistic spa. Devarana Spa was newly launched in 2021 and presents guests with an unforgettable sensory journey. The name, “Devarana” means “garden in heaven”, taken from ThaiSanskrit dating back to ancient literature in which a garden at heaven’s gate is described with ponds, beautiful scents and the sounds of soft melodic harp music. This spectacular spa sanctuary has been perfectly designed for contemporary lifestyles and will exceed the aspirations of today’s increasingly health-conscious guests! Devarana Wellness is Dusit’s wellness solution and is “inspired by traditional Thai healing wisdom and the spirit of Buddhist wellness principles”. The concept goes beyond the resort’s renowned signature spa to offer an ancient solution to modern-day ailments via a propertywide deceleration methodology. Mr Paul Hawco, Corporate Director of Wellness, Dusit International said: “With the fast pace of modern life leading to unease, unrest, stress and anxiety, the chance to ‘pause’ and slow down is more important than ever.” He added: “With this in mind, wellness at Dusit is not about a singular interaction or service; it is seamlessly integrated across the entire stay experience.”

ResortNews | May 2021

TOURISM

Catching-up with Women In Management

EVENTS & APPOINTMENTS

ResortNews | May 2021

The Women In Management luncheon in April was both intimate and fun, and filled with life and laughter! Marissa Millane updated us: “The setting was everything picturesque at the beautiful O’Reillys Canungra Valley Vineyards, it was a delightful day of networking and enjoying the vino on offer. “A big thank you to one of our main sponsors Mandy Clarke from Resort News and Accom Properties. We appreciated her chat about

all the special benefits on offer to all resort managers when they join and use the Accom Properties platform for their rental and/or sales listings.”

Accommodation Industry Golf Series update The golf day at Hope Island on March 18 looked like a possible wash out because of heavy rain, but miraculously the rain cleared up! Despite a heavy course, participants enjoyed rare sunshine, good golf, food, and fellowship.

The winners

James Stokes and Chad Mangleson – Score 59.25

1st placed team: John Christopher, Shannon Semenikow, James Paul and David Mackay - score 52.75

The next golf day is on June 10 at the Glades Golf Course. There will be a 4 ball best ball team competition with a shotgun start at 12 noon. Also, there will be the usual fantastic prizes, raffles plus refreshments and meal.

2nd placed team: Gary Barnes, Alan Payne, Mark Dawley and Hayden Dowley - score 56

Now that winter is here our favourite food outlet (the pizza van) will be back on course along with other novelty holes.

3rd placed team: Sam Daley, Ryan Cameron, Sue O’Farrell and Mike O’Farrell - Score 57.5

It will be a great day to enjoy golf so get cracking and organise your mates to play.

4th placed team: David Ekberg, Leon Mackay,

2021 ARAMA INDUSTRY EVENTS CALENDAR For registration and/or event information please contact us on 1300 ARAMA Q (1300 27 26 27), email national@arama.com.au or visit: https://www.arama.com.au/ BRANCH

EVENT TITLE

DATE

TIME

LOCATION

REGISTRATION

Online

Educational Webinar

Wednesday, 19 May 2021

11am QLD Time

Open

All

Management Rights Industry Training Program

Thursday, 27 May 2021

8:30am - 4pm

Riverside Hotel

Open

Brisbane

Drop in for Drinks

Thursday, 27 May 2021

4:30pm - 6:30pm

Riverside Hotel

Open

Gold Coast Members Social Lunch

Tuesday, 8 June 2021

11:30am - 2pm

Bine @ Nobbys Beach Open

Online

Educational Webinar

Wednesday, 16 June 2021

11am QLD Time

Open

All

Management Rights Industry Training Program

Thursday, 25 June 2021

8:30am - 4pm

Riverside Hotel

Open

Brisbane

Drop in for Drinks

Thursday, 25 June 2021

4:30pm - 6:30pm

Riverside Hotel

Open

All

TOP Awards Dinner

Tuesday, 27th July 2021

6:00pm - 11:00pm

Victoria Park

Open

All

Gold Coast Expo

Tuesday, 17th August 2021

6:00pm - 9pm

TBC

Opening Soon

All

Brisbane Expo

Wednesday, 18th August 2021

6:00pm - 9pm

TBC

Opening Soon

All

Sunshine Coast Expo

Thursday, 19th August 2021

6:00pm - 9pm

TBC

Opening Soon

ResortNews | May 2021

EVENTS & APPOINTMENTS

DEVELOPMENT NEWS

Sydney heritage development proposal for luxury hotel Built and Irongate Group in a joint venture lodged a Stage 1 State Significant Development Application (SSDA) for the redevelopment of a 5/6-star hotel mixeduse project at 52 Phillip Street and the adjacent heritage-listed building at 50 Phillip Street, Sydney.

recognised specialist in cultural heritage management and cultural tourism policy, who has previously been commissioned by NSW government to develop the ‘Conservation Management Plan’ for the property.

The proposal seeks to amalgamate the Built Irongate JV owned property at 52 Phillip Street and the NSW government owned property at 50 Phillip Street to deliver a new luxury hotel. If successful the project, will offer circa 240 hotel rooms, podium food and beverage and retail offerings, a rooftop pool, spa, and wellness centre as well as 16 high-end hotel branded residences.

CBRE Hotels has been appointed to conduct an international search to attract one of the world’s top luxury hotel operators and has already seen significant interest from luxury hotel groups who have waited years to find the right opportunity to launch a flagship property in the Australian market.

The development will consist of three major components, the adaptive reuse of 50 Phillip Street under a 99-year lease, a new podium infill building at 52 Phillip Street and a new tower at 52 Phillip Street which partially cantilevers over 50 Phillip Street to preserve the heritage structure. The proposal will not have an impact on the Chief Secretary’s Building on the corner of Phillip and Bridge Streets. A new slender tower at 52 Phillip Street will taper away from the street maintaining the original streetscape. It will house suites

Built CEO and Managing Director, Brett Mason, said the development “represents a unique opportunity to give these buildings new life”.

50-52 Phillip Street view

for the hotel along with 16 branded residences with views never to be built out catering for a unique market which is already attracting strong demand. The NSW government has not agreed to the proposal at this time and critical to the success is the careful heritage preservation and adaptive re-use of 50 Phillip Street.

The proposed new hotel will restore the building to its original spatial character, the heritage interior joinery will be restored, and new work will interpret the features and detailing of the original finishes utilising Built’s unique skills in restoring and refurbishing heritage buildings. Also engaged on the project is Graham Brooks, an internationally

DEVELOPMENTS

Built has a long and recognised proven track record in delivering and developing high-quality heritage projects including Sub Station No.164 at 185 Clarence Street, which revitalises two historic Sydney buildings into one of the city’s most distinctive A-grade office towers with a seven-level sculptural glass extension. Other projects include the redevelopment of Perth’s Old Treasury Buildings into a vibrant hospitality and retail destination. Built is also currently delivering the significant refurbishment works at the Sydney InterContinental Hotel, including restoring the heritage façade.

ResortNews | May 2021

Yamba to welcome first boutique hotel:

The Surf Yamba The development of a new surf hotel promises a ‘go-to’ destination for visitors to NSW. The twelve-room hotel is Yamba’s first boutique hotel and will offer an authentic Australian coastal vibe. It is situated opposite Yamba’s Main Beach, just over a onehour flight from Sydney or three hours’ drive from Brisbane. The new hotel’s doors will open late May 2021, but it has occupied its current location for almost one hundred years. The project was designed by Sydney’s Design King Company and presents a distinctive curved building housing the hotel. The design represents classic ocean liners of the 1930s, and from the rooftop terrace and plunge pool, guests

will delight in uninterrupted 360-degree views of the ocean. David, Andrew, and Phillip Mayne are the founders and co-owners of The Surf Yamba and have considered Yamba a second home for more than forty years. Graziers in their day-to-day life, the Maynes are not strangers to the hospitality scene, having owned and operated the Barkly Homestead in the Northern Territory for 15 years. The Mayne family purchased The Surf Yamba twelve years ago and saw the potential in redeveloping the site. Andrew said: “Yamba has always been our go-to holiday destination, and with The Surf Yamba, we hope to introduce a new generation of Australians to this beautiful area. The hotel has been inspired by the local scenic landscape, iconic beaches and headlands, and the rich heritage of Australia’s surfing culture.”

Construction begins on Adelaide’s first Marriott Hotel In April, the Premier of South Australia, Steven Marshall, was on hand to officially break ground on the $200 million, 285-room Adelaide GPO Hotel, alongside developer Greaton’s Managing Director Nicho Teng. Construction of the 16-level property, which will be operated by Marriott International, has commenced and the hotel is expected to welcome its first guests in 2023. The hotel will offer 285 large guest rooms, including a Presidential Suite, Club

ResortNews | May 2021

and comfort for future guests and the convenience of being right in the heart of the city.

Lounge, signature restaurants and bars, swimming pool and fitness centre, plus function and conference rooms. Guests will enjoy the elegance of the historic GPO building and sweeping views across Adelaide city, Adelaide Hills

and the metropolitan coastline.

“Our development of the GPO Hotel is a major vote of confidence in the South Australian tourism industry and will provide a significant boost to the state’s economy, employing more than 600 people during construction and creating a further 250 ongoing jobs when the hotel opens.”

Nicho Teng, Managing Director of Greaton, said the GPO Hotel is set to become Adelaide’s landmark hotel.

Premier Steven Marshall congratulated Greaton and Marriott International on the ground-breaking ceremony.

He revealed: “The hotel will provide a new level of quality

He said: “This project is a real coup for our city.”

DEVELOPMENTS

Thinking About Management Rights? Look No Further EXCLUSIVE AGENCY

ID 8064 TWEED COAST MANAGEMENT RIGHTS • Perfect sea change opportunity • 15 townhouses in the letting pool • Great family resort

• Close to beach and estuary • 2 bed, 2 bath residence • Perfect entry level business

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ID 9011 OFF THE PLAN OPPORTUNITY • 20 apartments in the letting pool • 101 quality apartments • Experience preferred

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• Holiday management rights • 6 dual keyed apartments in pool • 5 offsite lets

• Strong domestic tourist demand • Refurbished 3 bed residence • No requirement to live onsite

ID 9009 OCEAN VIEWS AT AIRLIE BEACH

Amanda Rowe – 0427 413 319

LISTING BROKERS: NET PROFIT: $281,672 • Well appointed mixed letting • Spectacular views • 20 apartments in the letting pool

Brigid Clarke - 0409 816 635 Lyn Pearsall - 0425 168 244

ASKING PRICE: $POA • Full resort style facilities • No set ofﬁce hours • 3 bed, 2 bath manager’s villa

ID 8286 WATERFRONT RESORT – SUNSHINE COAST

MR Sales have an extensive range of listings Australia wide. Visit www.mrsales.com.au to view them now or Phone: 1300 928 556 | Email: sales@mrsales.com.au

www.mrsales.com.au

MAASRA APARTMENTS RCA Business Brokers are proud to offer exclusively, Off the Plan the Caretaking and Letting Rights to Maasra Apartments Coorparoo, scheduled for completion in 2021. Included with this exciting opportunity is a Luxury 3 Bedroom 2 Bathroom apartment with large private terrace. Maasra Apartments comprises 105 architecturally superior 1, 2, 3 & 4 Bedroom apartments over 8 levels, artfully designed for the residential market. Located just 4 klms from the Brisbane CBD, this Luxury development is a short stroll to Cinemas, Restaurants, Cafes and Shopping. Featuring a superb resort style Pool, Gym, Common Room and Sundeck. For a comprehensive information package please contact the agents, Rod Askew or Eric Brizuela at sales@rcabb.com.au

Selina Zhong joins Property Bridge Prior to entering the Management Rights industry, my background was within finance. That included over 10 years within a global professional services company. I was an integral part of the business finance team, leading me through engineering, construction and architectural streams. It was only a matter of time before I realised Management Rights was a great career path and that my past expertise would be well suited. Spreading my wings, I then purchased a Management Rights business in Brisbane. This experience is a priceless asset to me, as I know all too well how overwhelming the buy/sell process can be. I understand first-hand

the issues that buyers and sellers may encounter. I also have exceptional leadership and interpersonal skills to assist both buyers and sellers with their Management Rights transactions. I have a deep passion and commitment for Management Rights, helping my clients every step of the way, maintaining a solid reputation and long-term relationships. I am driven by the desire to encourage new competent starters into the industry and to pass on my knowledge along the way. Selina Zhong services the Brisbane area and can be contacted on 0468 886 010, selina@propertybridge. com.au, or by visiting propertybridge.com.au.

Selina Zhong

Talk to someone who understands your business. Steve Austin

Sales Report The trusted source for buying Management Rights, Motels and Caravan Parks from all the leading brokers.

MANAGEMENT RIGHTS Gold Coast Alexis@Broadbeach Currumbin Ridge VUE Terrace Homes Edenvale

Sunshine Coast

Management Rights Specialist Gold Coast

Kara Watson

Management Rights Specialist

Amanda Norling

0408 776 067

The Ritz Geelong - Apartment Hotel Collective Hotel Management

0438 628 840

Management Rights Specialist

RB RB RB MRS

Geelong

MOTELS & OTHER Queensland Noosa Heads Motel Benaraby Hilltop Motor Inn Witches Falls Cottages

0459 800 461

Matthew Adamson Joan Fulop Thomas Hughes

Noosa Heads RB Benaraby RB Tamborine Mountain RB

Sandra Legge Rob Salce Rob Salce J. Brennan

North Haven Parkes Parkes Coffs Harbour

RB RB RB TB

J. Hussey

Kerang

Coober Pedy

New South Wales Haven Waters Bushmans Motor Inn - Investment Bushmans Motor Inn - Business BW Zebra Motel

North Queensland

Richard Smith

Mermaid Beach Currumbin Robina Robina

Victoria

Brisbane

Management Rights Specialist

RCSC P/L Barry Woods Robina Vue Management P/L Ivan & Evelyne Kwong

0407 632 612

Victoria Kerang Motel

South Australia BIG4 Stuart Range Outback Resort Antony Wiesener

Note: Agent/Broker involved in the sale is listed last. Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No. 229882 (“Suncorp Bank”) 22527 22527 25/01/19 A

Agent - KEY: RMS - Resort Management Sales; CBMR - Calvin Bailey Management Rights; CRE - CRE Brokers; MRS - MR Sales; QTHB - Queensland Tourism & Hospitality Brokers; RB - ResortBrokers; RS - Resort Sales; TO Tom Offermann; TB - Tourism Brokers; TMR - Think Management Rights; SC - Stratacorp; WCH - Ward Commercial Hotels. * In conjunction

PROPERTY

ResortNews | May 2021

MANAGEMENT RIGHTS RESORTS

CARINDALE ■ ■ ■ ■

No requirement to live on-site. Manager’s unit currently leased Salary of $85,000. Increasing 4% p.a. No office hours Popular gated residential complex surrounded by quality homes Within Belmont State School catchment. Quality tenants.

NETT: $119,000 PRICE: $1,138,000

ARUNDEL ■ ■ ■ ■

Bobo Qi 0438 027 771

bobo@propertybridge.com.au

RELAXED LIFESTYLE!

Secure, easy to run Gold Coast permanent at beautiful Arundel Convenient family friendly area with excellent schools nearby Hard to find 4 bed + study freestanding home. Pet friendly No vacancy, office on title, no set hours, no pressure here!

NETT: $107,000 PRICE: $1,058,000

BRISBANE NORTH ■ ■ ■ ■

4% SALARY INCREASES

Rhonda Perkins 0418 767 115

rhonda@propertybridge.com.au

ENTRY LEVEL BUSINESS

Great location. Tenants love it! Easily managed. Happy long-term managers Comfortable 3 bed, 3 car manager’s townhouse. Office attached Body Corporate Salary $71,000

NETT: $108,000 PRICE: $968,000

BOONDALL

Selina Zhong 0468 886 010

selina@propertybridge.com.au

NEW DEVELOPMENT

Brand New 78 lot development. 30 minutes to Brisbane CBD Family friendly area. Close to shops, schools, public transport Spacious 4 bed, 2 car Manager’s Townhouse Body Corporate Salary $78,000

■ ■ ■ ■

NETT: $92,000 (Projected) PRICE: $898,000

MUDGEERABA ■ ■ ■ ■

Jim Lowe 0403 418 115

jim@propertybridge.com.au

CARETAKING ONLY

Business easily run by one person. No set office hours Stable Body Corporate salary $102,000 + GST Caretaking Only with an option to take 5 letting units Renovated 3 bed house with office. New laundry and kitchen

NETT: $102,000 PRICE: $1,109,000

Jenny Zheng 0413 922 580

jenny@propertybridge.com.au

PROPERTYBRIDGE.COM.AU | 1800 888 518

Your Management Rights Financing Experts Management and Letting Rights Quarterly Pulse • March 21 • Twelfth Series

Data provided by The On-Site Manager website

Market Snapshot - March 2021

STOCK LEVELS - The total dollar value of listings continues to fall May 2018

August 2018

January 2019

May 2019

September 2019

January 2020

June 2020

October 2020

January 2021

March 2021

$932m

$1,040m

$969m

$914m

$1,010m

$985m

$863m

$717m

$646m

$576m

677 Properties on the market

728 Properties on the market

697 Properties on the market

739 Properties on the market

716 Properties on the market

641 Properties on the market

518 Properties on the market

500 Properties on the market

463 Properties on the market









The number of Holiday Businesses for sale is currently around half that was it in January 2020. Listing and transaction levels for Permanent Businesses are lifting in Brisbane. May 2018

August 2018

January 2019

May 2019

September 2019

January 2020

June 2020

October 2020

January 2021

March 2021

Holiday

346  Permanent

355  Permanent

358  Permanent

330  Permanent

343  Permanent

335  Permanent

283  Permanent

239  Permanent

219  Permanent

187  Permanent

307 

338 

309 

336 

336 

328 

311 

245 

238 

234 

Multipliers have had a slight decrease BUSINESS MULTIPLIERS (Avg) OVER $1m Purchase Price 4.9x

4.4x

4.3x

4.2x

4.1x

4.3x

4.25x

4.46x

4.35x

4.31x











The listing period for stock on the market has slipped further DAYS LISTED May 2018

DAYS LISTED August 2018

DAYS LISTED January 2019

DAYS LISTED May 2019

DAYS LISTED September 2019

DAYS LISTED January 2020

DAYS LISTED June 2020

DAYS LISTED October 2020

DAYS LISTED January 2021

DAYS LISTED March 2021

Has increased by 10 days to 86 days

Has decreased by 16 days to 71 days*

71 Days

72 Days

74 Days

105 Days

65 Days

58 Days

57 Days

45 Days









Market Movers

The Brisbane market is recovering as the fall in listings has abated and the Permanent market is now growing its listing again after three quarters of falls. This market is responsible for all of the rise in permanent businesses. The Holiday markets of the Gold Coast and the Sunshine Coast highlight the reduction already noted.

*Remained 79 days for Holiday and Permanent

1300 886 103

finexia.com.au

info@finexia.com.au

company/finexia-securities

Management and Letting Rights Quarterly Pulse • March 2021 • Twelfth Series

Management Rights for Sale - Market Analysis - March 21 Letting Pool Coverage – proportion of the total units to those within the Pool Agreement Coverage – refers to % of total agreement term available upon purchase. Total stock ($)

Total stock

Days listed

Average price

Multipliers

Gross return %

Letting pool coverage

Agreement coverage

Resort / Holiday

$266,303,543

187

$1,424,083

4.08

26%

59%

81%

Permanent

$265,621,667

234

$1,135,135

4.53

23%

41%

80%

Corporate

$13,406,000

$1,489,556

4.60

23%

59%

89%

Off The Plan

$17,217,000

$1,229,786

3.44

51%

25%

100%

Caretaking

$10,545,500

$659,094

3.94

27%

65%

Retirement

$3,529,000

$1,176,333

3.69

27%

76%

64%

$576,622,710

463

$1,245,405

4.31

25%

49%

81%

Historical Comparison of the Market

Purchase Price

BUSINESS MULTIPLIERS (avg)

Avg Purchase Price

Standard Agreements

4.18x

$1.23m

Accommodation Agreements

4.33x

$1.25m

Standard Agreements multipliers have risen from an average 4.01x to 4.18x. Accommodation Agreements have fallen slightly again this quarter from an average of 4.40x to 4.33x.

Total properties on the market has hit another record low

NUMBER ON THE MARKET

800 725

750 700

674

671 626

650

739 695 694

716 641

603

600 529

Jun 2020

Jan 2020

Sep 2019

May 2019

2 Holiday (3 in Jan 2021)

Jan 2019

91 Permanent (81 in Jan 2021)

Aug 2018

450

May 2018

114 in Properties for Sale (102 in Jan 2021)

501 463

Jan 2018

500 Oct 2017

$122m in Properties for Sale ($118m in Jan 2021)

Jun 2017

Brisbane

550

Mar 2021

Comparison by Agreement Type - January 21

Jan 2021

‘On the Market Analysis’ - Market Pulse

Oct 2020

Grand Total or Average

55 Days on Average Listed (71 in Jan 2021) 4.63 Average Multiplier (4.64 in Jan 2021)

350

4.29 Average Multiplier (4.45 in Jan 2021)

1300 886 103

finexia.com.au

info@finexia.com.au

company/finexia-securities

260

250

219

Permanent

Resort / Holiday

Mar 2021

Jan 2021

187 Oct 2020

150

244 238 234 247

200

Jun 2020

60 Days on Average Listed (69 in Jan 2021)

311

283

Jan 2020

65 Holiday (76 in Jan 2021)

336 343 328

Sep 2019

26 Permanent (28 in Jan 2021)

309

307 278

330 336 335

May 2019

Sunshine Coast

97 in Properties for Sale (113 in Jan 2021)

355 358

338

300 250

$137m in Properties for Sale ($159m in Jan 2021)

328

346

Jan 2019

4.44 DAverage Multiplier (4.34 in Jan 2021)

337

Aug 2018

52 Days on Average Listed (73 in Jan 2021)

359

May 2018

56 Holiday (72 in Jan 2021)

400

Jan 2018

82 Permanent (88 in Jan 2021)

Oct 2017

142 in Properties for Sale (167 in Jan 2021)

NO. OF BUILDINGS ON THE MARKET BY TYPE (Holiday & Permanent)

Jun 2017

Gold Coast

$182m in Properties for Sale ($213m in Jan 2021)

19th Avenue on The Beach

Manager raises occupancy in landmark resort By David Carroll, Industry Reporter

Li Li jumped in at the deep end when he took the plunge into the management rights sector, opting for a 16-floor, 78-unit holiday letting beachfront resort for his first purchase. That was four years ago and while the learning curve has been steep, Li is delighted with his choice of building and with his decision to move into management rights. “It is pretty funny because when I started in this business, I knew nothing,” he said. “My friend had the management rights to a holiday complex and told me it was a good business. But I didn’t start in a small complex like people usually do. “This is a decent-size complex

From left to right, Li Li, Emily Xi, Elaine Han, Jo Opie and Colin Ector

and when I started there was a lot to learn but I just got on with the job, and it has ended well.” Li arrived in Australia from China in 2008 with his wife to study business at Southern Cross

University. After finishing his bachelor’s degree, he completed his masters at Griffith University and then moved into the hospitality sector, establishing a chain of teppanyaki restaurants

PROFILES

on the Gold Coast. They were sold when he and his wife purchased the management rights for the iconic 19th Avenue on The Beach resort at Palm Beach on the Gold Coast. ResortNews | May 2021

Built in 1978, the 16-storey building is a landmark in the beachside suburb with its lawns spilling onto the sand. The resort has 78 units in total with 45 two- and three-bedroom apartments included in the letting pool. Facilities include spa, sauna, gymnasium, tennis court, barbecue area and games room.

in Palm Beach which are truly beachfront.” While the resort has obvious attractions, Li said there was work to do when he first assumed control of the property. Upgrades included painting, replacing lights, installing disabled access and upgrading the pool facility. “It’s a 30-year-old building so it’s never going to look brand new, but it looks good, and it’s well maintained,” Li said. “We get a lot of fantastic feedback from our guests.

“We also have probably the only heated indoor swimming pool in Palm Beach,” Li said. “That is a big sell for us with some of our southern guests because even in winter we have good occupancy rates. “And we’re absolute beachfront. There are only about four holiday apartment buildings

“We have also completed a lot of improvements to our holiday apartments and were able to encourage the owners to renovate.”

Talk to someone who understands your business. We are proud to be legal advisors to Emily and Li who are great managers and a credit to the Management Rights Industry

Sunshine Coast

Steve Austin

Management Rights Specialist Gold Coast

Kara Watson

Management Rights Specialist

Amanda Norling

0408 776 067

Over 40 years of service to the Management Rights industry, providing assistance in:

0438 628 840

Buying and Selling Ensuring Agreements Comply with the Law Agreement Negotiation with Bodies Corporate Representation to Licensing Authorities ‘Body Corporate & Community Management Act’ Advice Employee Dispute Resolution

Brisbane

Management Rights Specialist

0459 800 461

North Queensland

Richard Smith

Management Rights Specialist

0407 632 612

Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No. 229882 (“Suncorp Bank”) 22527 22527 25/01/19 A

ResortNews | May 2021

PROFILES

For expert advice please contact; Paul Jones John Punch Phone: 5570 9327 Fax: 5539 8745 Phone: 5570 9322 Fax: 5539 8745 paul.jones@spglawyers.com.au john.punch@spglawyers.com.au Cnr Bundall Rd & Crombie Ave Surfers Paradise PO Box 5164 GCMC, Bundall, QLD 9726

Li advocated for a cohesive look throughout the resort.

he said. The move has paid off with the resort registering a 20 percent increase in occupancy rates since Li took charge.

“All of the apartments had a very different look, but we have spent a lot of time and effort decorating,” he said.

“Our occupancy rate has increased significantly in the last four years,” Li said. “It was about 50 percent when we took over, now it’s about 70 percent.”

“We have tried to create a similar aesthetic across all of the apartments, using the same cushions, blankets, soaps, and room amenities. We have upgraded the equipment in the apartments, installed smart TVs, replaced all the kitchenware and the wifi system was upgraded about three years ago.” In a clever move, Li revealed that he had appealed to the owners’ desire for improved occupancy rates to achieve his vision. “In year two, I picked one of the apartments and did a lease back

That rate dropped away last year as the industry struggled with the flow-on effects of the COVID-19 pandemic, but Li said the business has bounced back well.

for that particular apartment. Then, I made that apartment the benchmark,” he said.

“From March to June last year we couldn’t take any bookings, but we have now recovered pretty well,” he said.

every single owner in the letting pool to encourage them to upgrade their own apartment to that standard. If you want your owners to renovate, you have to have something to show them”

“I decorated it and got about 90 percent occupancy rate for the year and I showed that to

proud supplier to:

“Christmas was almost the same as the previous year and in February 2021 we actually did better than the previous year.”

NEW GYM

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Li, who is on site Monday through Friday, is supported by on-site manager Joanne Opie who joined the 19th Avenue on The Beach team two years ago. “She is very important to us,” Li said. “I spend a lot of time and effort on the body corporate stuff and Jo mainly looks after the letting business. It’s a decent-size complex so there are a lot of things to do and one person is not enough to manage the whole building.” The team also includes a part-time staff member who works three days a week while a body corporate employee is engaged to look after the common areas, gardens and undertake general maintenance.

Li said key to the success of the resort is the maintaining of a good relationship with the body corporate and the owners.

going to work in for life,” he said, adding he is also happy to have selected the 19th Avenue on The Beach resort as a starting place.

but there is a lot of competition there and for my first business I decided to choose somewhere nice and quiet,” he said.

“It’s important to build good relationships with the owners,” he said. “You need to have a good atmosphere in this kind of building. Because I am running holiday apartments, sometimes there is going to be noise. You cannot avoid it. And most of the owners are retired people so you need to have a good relationship with them because you are going to see them every day.”

“We inspected other complexes in Surfers Paradise and Broadbeach

“Palm Beach is a good place to be.”

Li admitted his management rights career thus far has been a steep learning curve and provided plenty of challenges, but he said he wouldn’t have it any other way.

10% discount for Resort News readers when booked direct

“I’ve only been part of it for four years but it is an industry I’m

2 Ninet eent h Av enu e, P a lm Bea c h Qld 4221

(07) 5576 3844 • info@19thave.com.au

www.19thavenuepalmbeach.com.au

ResortNews | May 2021

PROFILES

THE PREFERRED SUPPLIER DIRECTORY THE ORIGINAL AND MOST TRUSTED BUSINESS TO BUSINESS GUIDE FOR THE ACCOMMODATION INDUSTRY ABSEILING SERVICES

MANAGEMENT RIGHTS SPECIALISTS Due Diligence Auditing Business Advice Taxation

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Level 4, 97 Creek St, Brisbane, 4000

Whatever, Wherever, Whenever!

Smiljan Jankovic 0423 595 910 SmiljanJ@agredshaw.com.au

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www.accomnews.com.au/business-directory

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management rights income verifica�on management rights trust account audi�ng prepara�on of bank review/re-finance figures

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ACCOUNTANTS & AUDITORS Contact Michael Beddoes Partner & Management Rights expert mbeddoes@mbapartnership.com.au

phone 07 5575 9649 | mobile 0411 841 868 erikathomas@bigpond.com

Paul Shannon

www.managementrightsauditor.com.au

Management Rights Specialist

07 5538 0999

info@crestaccountants.com.au

www.crestaccountants.com.au

- SUNSHINE COAST “YOUR GUIDING LIGHT ON MANAGEMENT RIGHTS”

Your Sunshine Coast

Management Rights Specialists FOR OVER 20 YEARS

Verification Reports - Due Diligences Tax Planning & Structures For Sale Figures - Auditing Tax & Accounting

Specialist Management Rights Accountants

Contact : PETER MEYERS 155 Varsity Pde, Varsity Lakes, Qld 4227 t : (07) 5630 6559 m : 0402 943 549 e : peter@pmag.com.au

FIRST INTERVIEW FREE! Greg Kamp FCPA FTI

07 5443 7789

“Holbrook House” 48-50 Sugar Road Maroochydore

www.pmag.com.au

info@kampba.com.au

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Eagle_Dad_Print.pdf 1 31/03/ E: renee@rcbaccounting.com.au W: rcbaccounting.com.au

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ResortNews | May 2021

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ELECTRICAL CONTRACTORS Reservations and Trust Accounting Daily Reconciliation – Systematic Distribution Holiday Resident Puma Light No trust accounting

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mike@mikephippsfinance.com.au

Paul Grant 0448 417 754 paul@mikephippsfinance.com.au Cameron Wicking

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Phone (07) 5446 2135

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VISIT OUR SHOWROOM AT: Unit 4, No. 2 Cnr Captain Cook Drive and Kendor St, Arundel, QLD

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coastalcasualoutdoors@gmail.com

W I D E

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0418 765 257

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PREFERRED SUPPLIER DIRECTORY

Look for the sign of an Industry Specialist ResortNews | May 2021

GYMNASIUM EQUIPMENT

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YOUR PARTNERS IN SUCCESS

MAIL BOXES

Calvin Bailey LREA

0414 889 593 calvin@cbmr.com.au Quality Aust Products to meet All Building & Government Standards

DELIVERIES QLD WIDE – INSTALLATION & SERVICE IN SE QLD

We’ve got you covered EBM is your Management Rights insurance specialist. As industry partners and members of ARAMA, we are proud to support the Management Rights sector. 1300 755 112 | ebm.com.au

INSURANCE

AFSLN 246986 ABN 31 009 179 640

P: (07) 5596 1440 E: info@sunni.com.au

Alex Barker-Re LREA 0414 835 128 alex@cbmr.com.au

CALVINBAILEYMANAGEMENTRIGHTS.COM.AU

MANAGEMENT RIGHTS AGENTS

Property Bridge MANAGEMENT RIGHTS

RESORTS

 Discreet Silent Listings  Free Market Appraisals

“Always passionate, committed and professional, you can trust the team at Property Bridge.”

Specialists in management rights Off the plan sales qld & victoria Buying or selling best advice Rod Askew 0411 758 236 (QLD & VIC) Eric Brizuela 0413 060 683 (QLD) Nationwide: 07 3554 0040 Email: sales@rcabb.com.au

www.rcabusinessbrokers.com.au

The Management Rights Specialists

…When you need us most! MGA was founded in 1975 and has since opened up 38 offices around Australia, offering Insurance products for:  Business  Strata  Landlord Protection With quick quote turnaround and hassle-free claims service

info@propertybridge.com.au propertybridge.com.au 1800 888 518 SUNSHINE COAST

Call us today on (07) 3720 6000 or email: quotes.brisbane@mga.com

Matt Campbell 0410 343 219 Barry Davies 0438 554 995

LIGHTNING PROTECTION

www.managementrights.com

contact@managementrights.com

Specialising in Motel & Resort Sales Qld wide Andrew Morgan m 0417 608 041 p 07 4953 1611 | w qthb.com.au

MOTELS, CARAVAN PARKS, HOTELS & MHE’S NATIONAL COVERAGE

LINEN &/OR LINEN GOODS

sales@tourismbrokers.com.au 1300 512 566 www.tourismbrokers.com.au

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Supporting and servicing the needs of both buyers and sellers of management rights throughout Tropical North Queensland PO Box 1037 Gordonvale 4865 • P 07 4056 6366

info@resortsales.com • www.resortsales.com

SPECIALIST AGENTS COMMITTED TO MAKING EVERY DEAL A SUCCESS

1800 111 622

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wayne@thinkmanagementrights.com.au

Look for the sign of an Industry Specialist ResortNews | May 2021

07 5437 8544 info@mainlinen.com

PREFERRED SUPPLIER DIRECTORY

1300 665 966

Narelle Filmer 0459 229 744

narelle@thinkmanagementrights.com.au

www.thinkmanagementrights.com.au

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Look for the sign of an Industry Specialist 50

1800 766 366

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Ph 5520 1256

QBCC Lic No 1050861 NSW Lic No 179886C

info@mahoneys.com.au

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www.anppainting.com.au

BRISBANE: 07 3007 3777 GOLD COAST: 07 5562 2959

Whatever, Wherever, Whenever!

www.accomnews.com.au/business-directory

PREFERRED SUPPLIER DIRECTORY

Buying & Selling

New Agreements or Variations

General Advice

All at Fixed Fees

Flood Legal offers all the experience & expertise of a big firm while delivering accessible, personal & affordable service that comes with dealing with a small firm. Call Sharon Flood, Director 0459 070 871 or 02 6674 5118 sharon.flood@floodlegal.com.au www.floodlegal.com.au

ResortNews | May 2021

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management rights, think...

Buying or Selling Renewing or Reviewing Negotiation & Dispute Resolution We are recognised experts in our field, always outcomes focused and offer flexible fee options. Michael Kleinschmidt, Legal Practitioner Director PH: 07 5406 1280 info@stratumlegal.com.au

Matthew Russell, Partner Vanessa Sciortino, Special Counsel

Management Rights Lawyers

(07) 3226 3944 mjr@nicholsons.com.au / vas@nicholsons.com.au www.nicholsons.com.au

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TENNIS COURT CONSTRUCTION &/OR REPAIRS

VALUERS - REAL ESTATE MANAGEMENT RIGHTS VALUATION SPECIALISTS

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WE ALSO REPAIR & SUPPLY NEW COURTS, NETS, LIGHTS, FENCES & GATES

Short Punch & Greatorix Cnr Bundall Rd & Crombie Ave Surfers Paradise PO Box 5164, GCMC, Bundall QLD 9726 Fax: 5539 8745 john.punch@spglawyers.com.au

australianvaluers.com.au mlr@australianvaluers.com.au 1800 664 094

Call John Punch on 5570 9322

CERVETTO COURTICE L AW Y E R S QUEENSLAND

Management Rights Sales & Purchases Phone: (07) 3202 2266 Fax: (07) 3812 1128 Email: cervettocourtice@outlook.com

Management Rights, Body Corporate and Property Law Specialists

Australian Valuers have proven to be the No.1 choice for this highly specialised work. Our valuation team operate on a national level providing advice to the majority of Australia’s Banks

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The only specialist Management Rights valuation company in Australia (with 25 years experience)

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Alex McCowan 0417 405 115 or Alison Sun 0416 181 285

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admin@accomvaluers.com.au

www.accomvaluers.com.au

10/1 Lanyana Way, Noosa Heads T 07 5474 5777 E info@siemonslawyers.com.au siemonslawyers.com.au

Whatever, Wherever, Whenever! www.accomnews.com.au/business-directory

ResortNews | May 2021

1800 080 349 www.propertytraining.edu.au

PREFERRED SUPPLIER DIRECTORY