What are resident managers?
In some (usually larger) strata properties, particularly Queensland, the caretaking and exclusive leasing rights to the complex are contracted out to a resident manager, who can be a company or individual, for an agreed management fee and time period. The fee is paid from owner levies. As well as owning this business under contract with the owners corporation, the resident manager (also called the caretaker) owns a lot in the complex which is attached to their title, and they or their employee (also called a Residential Letting Agent) generally reside in the building and conduct business from it. The leasing agreement can apply to short term letting, which includes holiday letting, corporate letting, groups, conferences, and also to long term letting, which includes residential tenancies and student accommodation. In new complexes the resident manager rights are generally sold by the developer.