澳洲Australia property I don't know how this works | Sy
I stumbled upon this ad, and wander how does this work? You pay $1mill for an apartment and get a job as the on site manager?
Yep. Very common in Queensland. You become the onsite manager. Sort of like buying a job. And it would be a tough job. I knew a bloke who has managed three different buildings in turn. He's a big bugger and I think that was handy especially during 'schoolies' month.
As Depreciator said, these are extremely common in Queensland.
You are buying a business. The manager receives a salary from the body corporate, and also letting rights to the building, sometimes exclusive but not always. As part of the deal you also buy a unit to live in and often office space as well.
The price usually reflects the income derived.
Also a nice little bonus for the developer who gets the sale of the initial business.
I worked (at a school) with a guy who bought management rights to a block of townhouses, on the condition that he did not actually live in the manager's unit. He rented out the unit and did the mainentance work at weekends. He was really happy with how it went.