Is it fair for letting pool managers to own units in the scheme and include them in the rental pool?
In June 2023, Frank Higginson responded to an audience member’s question concerning a letting pool manager who rents units from owners and then sub-lets them. What about letting pool managers who own units in the scheme and include them in the rental pool? Is this a fair arrangement? In particular, is this an arrangement the Office of Fair Trading would be interested in?
The legislation references disclosure of an ‘interest’ in the letting pool.
The legislation references disclosure of an ‘interest’ in the letting pool, so the obligation to disclose applies equally to ownership of units as well as the leasing back of them. I wouldn’t say the OFT is expressly interested in anything more than ensuring that the interest is disclosed.
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With more than 30 years’ experience in property, management rights and body corporate law, Frank is a beacon of knowledge and a renowned strata-industry expert. Known for his straight-shooting style and commercially driven advice, Frank cuts through the most challenging legal problems to deliver real-world solutions.
An active member of the strata community, Frank generously shares his time and experience to help educate the broader industry on all things strata law. He embraces his role as an industry leader and is committed to continued industry innovation and ensuring everyone in the strata sector has access to practical resources and solutions as they navigate through the strata maze.
He regularly presents to all industry segments and also speaks at Queensland Law Society events on strata law issues to other lawyers. Frank is a regular contributor to LookUpStrata.
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