All finance is serious business, but business finance is next-level serious. “Secured” lending solutions for businesses are available for collateral assets — with finance secured against the asset. Whatever you’re considering purchasing, Goldenwater has the business acumen to help you make an informed choice, and the lending resources to help you finance it.


We thrive on challenge, and don’t shy away from cases that traditional financiers consider too complex or challenging — like new enterprises and start-ups. In particular, we have deep expertise the Management Letting Rights industry, and regularly help business owners identify and secure the right opportunities.

Management Letting Rights Lending

Goldenwater are one of only a few brokerage firms that specialise in management letting rights businesses. These are enterprises where the business owner manages a unit or villa complex, from day-to-day operations, through to rentals and sales. Management rights businesses are an excellent gateway for people that want to transition from a PAYG job to becoming a business owner. They offer a secure, fixed income, plus commissions, and provide a lifestyle element as well. They also offer flexibility, with the opportunity to grow the business, and even gain a full real estate license for selling property in the complex and elsewhere.

Despite these advantages, many lenders have a poor understanding of the industry, and sourcing finance can be a very difficult task.

Management Rights Finance Specialists

Our expert team understands what each lender looks for when assessing applications for management rights businesses. We research the specifics of each case with their credit teams to make sure we select the most relevant lenders, and that we have all the information they will need to make their final decision. We also assess the risks of each scenario so we can help our clients develop mitigation plans; should a lender suddenly change their risk appetite, we have a Plan B ready to go.

Of the multitude of applications we’ve helped clients with, we have never not reached settlement because of an inaccurate assessment on our part.

On top of our expertise in sourcing finance for management rights businesses, we can also help you assess the business’s viability as a going concern before you make an offer.

If you’re considering purchasing a management rights business, talking to the expert team at Goldenwater will give you your best chance at success.


What are management rights?
What are the types of management rights?
Are management rights profitable?
How much can I borrow for management rights?
What happens when management rights expire?
How do you buy rights as a manager?
How do management rights make money?

What are management rights?

Management Rights is a service business that typically comprises of two major sets of duties within the building or townhouse complex it operates: 1) Caretaking of the common area and facilities, and 2) Letting of the units in its own letting pool.

In many buildings/complexes, you are required to purchase a residential unit and live onsite to carry out the duties, although it is not always the case.

The business is based on a service contract of up to 10 or 25 years, depending on the module of the building or complex, and the two main streams of income provide a great level of certainty and stability, which is why it is a perfect pathway for people to get into a business without the high risks that are usually associated with starting a new business.

What are the types of management rights?

Typically, you will encounter management rights businesses in the following categories

  • Long-term or Permanent letting – generally for lease terms of 6 months or more
  • Short-term or Holiday letting – serviced-apartment types of letting arrangement
  • Student accommodations – mostly located next to schools or universities and mainly for students
  • Corporate letting – generally short term letting for business travelers
  • Retirement villages – generally long term letting for retirees

Whilst all of them are attractive options, the first two are potentially the most common ones. Additionally, these types are not mutually exclusive, and many businesses comprise a combination of different types.

Another term you may hear is Off-The-Plan, which refers to the building or complex that is yet to be built, and the underlying building/complex can be any of the above types. As the procedures and routines are generally yet to be set up in these new buildings/complexes, a certain level of related experience is preferred for operators to succeed.

Are management rights profitable?

Let’s be honest, for our Mum-and-Dad operators who look for the lifestyle of the business, Management Rights business is not going to make you a humongous amount of money, yet it is still extremely profitable when compared to other types of businesses, especially if you are considering jumping into a brand new industry.

More importantly, Management Rights business provides stable and steady income that are sustainable, and it is this stability that is extremely appealing to the operators. With the everchanging marketplace and economic uncertainties, the Management Rights business is becoming increasingly attractive.

How much can I borrow for management rights?

For any business finance applications, the lenders usually consider the 5-Cs (Capacity, Collateral, Capital, Character and Conditions) to make a lending decision.

Assuming everything is satisfactory to the lenders, a successful borrower generally can borrow up to 70% of the overall business value.

It sounds cliché to say every transaction is different, yet it is absolutely true when it comes to borrowing for management rights purchases and/or refinances, as two different borrowers buying the same management rights business can get very different results even from the same lender.

This is why you need to speak to a finance broker that specializes in the industry to support you with accurate and timely information, so you can get on with your new business venture as smoothly as possible.

What happens when management rights expire?

Unfortunately, we have heard many unfortunate stories like this. Yet, if you surround yourself with a team of industry professionals, it should never happen.

To put it simply: if the agreements expire, you no longer have a business. However, it is so easy to stop that from happening. All you need to do is to read your service contracts, proactively seek to “top-up” the agreements (i.e. to add further terms to the service contracts), and exercise the options to activate those terms when the time comes.

As a general rule, for a typical 25-Year service contract, the remaining contract term should not fall below 20 years to ensure you retain the value of the business and keep your options open.

How do you buy rights as a manager?

Similar to buying any business, or in fact anything, you should always speak to a sales broker that knows the industry and the business you are buying, who can also hold your hand through the process. Also, assembling a team of professionals is critically important, as they can give you all the industry insights, help you complete the due diligence, walk you through the process, and provide thorough training to set you up and make the business a success.

How do management rights make money?

For a typical Management Rights business, there are two main components of duties, i.e. Caretaking and Letting, and in return, earn income from carrying out these duties.

For Caretaking duties, the business operator takes care of the daily maintenance of the building or complex, monitors the condition of the common area facilities, facilitate specialty repairs, and assist residents with their enquiries. For performing these duties, you earn a caretaking income from the body corporate of the building/complex, which is specified in the Caretaking Agreement.

In regard to letting duties, the business operators operate similarly to a property manager, and earn their commissions and fees for letting out the owners’ properties and provide services requested by the owners. Typically, the letting income is based on the individual letting agreement you have with each owner.


Our hand-picked lenders and service providers range from leading banks and well-established commercial mortgage managers, to private commercial lending institutions and the latest digital disruptors. In each case, we work closely with our providers in the single-minded pursuit of one goal: creating a tailored solution that supports the results our client wants.


If you’ve had enough of the financial run-around and you want to see real results that are based on your goals, then get in touch with us today. We’ll be with you all the way.