Changing agreements
Management rights agreements have a fixed term and their value is tied to the length remaining on that term.
Ensuring your management rights agreement has the longest possible term available is important. This requires the support of owners on general meeting, via an ordinary resolution.
We understand the varying elements at play and can support this entire process, with services including:
- Advising on your options and the associated legalities;
- Preparing the legal documentation; and
- Providing tailored strategies to canvass owners and secure their support.
Where necessary, we can also advise on more assertive strategies to encourage or prevent the committee or body corporate from acting in certain ways.
We can also help extend an agreement through the exercise of an existing option. These are normally non-contentious issues, but they must be drafted correctly.
Find out more:
The difference between an extension and a variation [BLOG]
Lobbying your owners [BLOG]
Why top up your management rights agreements? [BLOG]