Management Rights, in a body corporate context, comprise a package of legal and contractual rights and obligations relating to the building management and on-site letting pool business. Long-term Caretaking and Letting agreements (which can be either separate or combined) are the key management rights documents.
Building managers often ask bodies corporate to increase the term of these agreements by 5 years. This is commonly called a “top-up” request. Dealing with such a request is an important and sometimes difficult task for a body corporate. The Management Rights ‘top-up’ Tool Kit is intended to provide useful guidance for committees who receive top-up requests from their managers.
