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Apartment Management

Enquire Now Apartment Management MANAGEMENT - apartments located in  the Oracle Development in central Broadbeach

The official onsite letting agent is Peppers (part of Mantra Group) which presently manages, we have heard, some 150apartments in the Oracle Development. Some offsite agents and private owners like us also manage, or intend to  manage, offsite, privately-owned apartments located in the Development. This is because the Development was structured in such a way that  owners have the choice to use the onsite letting agent, or manage their apartments themselves or to use offsite agents or PRIVATE OPERATORS LIKE US.

We live in the Oracle resort, we manage or will manage up to a max of 3 apartments in the resort, under our business name: Gold Coast Luxury Apartments. This business OFFICE is at another location in Broadbeach. We are only be involved in apartments privately-owned by others, managed offsite by us on behalf of the owners.

As stated before, most residential high rise developments operate on three bases: 

 We currently manage three apartments in Broadbeach.   We have 7 years experience in managing apartments to provide short term accommodation. We have done this through our business: Gold Coast Luxury Apartments (GCLA), acting on behalf of owners.

For example, all income from bookings goes directly into their own bank accounts.

We recommend that owners of apartments in well-located and quite new resort developments in Broadbeach (see below) contact us to see if there is mutual benefit in our managing their apartments. The resorts we have experience with, or some knowledge about, are: 

 Broadbeach property management: holiday rental, then, you have two options: 

On-Site Management

As a Broadbeach Real Estate investor, you can place your apartment with the on-site letting manager.

  • Note that the manager has to ensure that income is spread across all apartments being managed, hence in general, apartments of the same/similar size on higher floors, and with better views (that cost substantially more), will earn the same as those that cost less, i.e. those on lower floors with lesser views.
  • Also, their guests get what’s available when they check in (could be on a lower floor with poor view).
  • Gross income to investors is after deducting commissions paid to travel agents, wholesalers, airlines, etc. This can account for up to 25% of gross income; not all bookings bear commission: some come from the managers own websites, or lower commission sources like Wotif (10%)
  • where commission is paid, the on-site manager then deducts its fees from the net amount, and it is this left over amount that is paid to the owner.

Off-Site Management

Place your apartment with an off-site manager, like us.

 

  • We guarantee what guests get in terms of level and views - most guests prefer this, therefore we can get a higher occupancy level
  • higher occupancy = higher returns, and
  • our fees are less
  • Also, our room-rates can be lower than on-site managers, so we can achieve higher occupancy levels because tourist accom is very price sensitive.
  • we don’t have to pay commissions of up to 25% to travel agents and wholesalers to get bookings – this is a major advantage for an owner to deal with an offsite operator like us – as we use only our own websites to procure bookings

   We summarize Broadbeach apartment management options as follows: 

Topic

On-Site Management

Our Off-Site Management

 Commission to travel agents or wholesalers (to source business) – does not account for all bookings

 

10 – 25%

  0% - we source all bookings from our own websites, or websites we create for owners.

 Management fees charged to investors – varies by resort (The Oracle and Q1 have fees of some 50%, but one reason for this is that they provide a daily service)

 

35% - 50%

 

 Usually in range of 35%

  Net income to investors

  lower - after deducting above

 Should be higher (higher occupancy levels, lower fees, no commissions paid to source bookings).

SOKHOM PRINS - PRIVATE OPERATOR

More private use of apartments

 Most onsite operators, which manage owners’ apartments, restrict owners’ use of their apartment to 3-4 weeks a year, and usually only during low season. We can be much more generous, and provide 6 – 8 weeks free use. Most apartments are only occupied 70% of year, which means that 30% of the time (110 days spread over the year) the apartment is vacant. 

Our Experience and Advantages – Broadbeach Property Management

We have been conducting Broadbeach property management of luxury resort apartments in the Gold Coast since 2004; this includes five apartments owned (or previously owned) by us in Air on Broadbeach, The Wave, Broadbeach on the Park and two apartments in Q1.

 CURRENT SITUATION

 A number of owners have approached us us to consider managing their apartments. Some discussions are ongoing. We are confident that we can achieve better returns than those achieved by most onsite operators. It is up to owners to have discussions with on and off-site operators to decide which management system to use.

Enquire Now Apartment Management