Quote form below
EBM offers Management Rights business owners a specialist division dealing in insurance for the industry. Our aim is to ensure you have the right cover at the right price, and because we understand the unique requirements and demands of this industry, we'll work through your individual needs and requirements to arrive at the most efficient solution.
We will not offer you "off-the-shelf" insurance, we will tailor your insurance portfolio to your role as Manager.
The insurances we source for you may include features that may not be found in other policies, such as:
- Broad definition of personal injury and property damage
- $250,000 cover to defend statutory fines
- $100,000 cover for goods in your physical and legal control
- Cover for relief managers as an automatic inclusion
- Libel and slander
- Bodily injury due to professional services and advice on a "claims occurring" basis rather than "claims made"
- 12 months Runoff cover provided free-of-charge
- $50,000 Legal Defence cost for Body Corporate Breach Notices
- $50,000 for Recoding/Rekeying of building after loss of master key
Cover can include:
The policy provides cover up to the policy limit for claims for professional liability arising from the conduct of your professional business practice.
|Your legal liability to pay compensation to third parties in respect of bodily injury or property damage as a result of an occurrence and happening in connection with your business.|
Loss of Fee Income/Business Interruption
|If your business is interrupted or interfered with as a result of loss and/or damage to the buildings, contents or documents, the Insurer will indemnify you for loss of fees.|
Loss of Money
|Loss or damage to money (as defined in the policy) arising from any cause not otherwise excluded.|
Theft by Employees (Fidelity)
|Direct loss of money, negotiable instruments or goods belonging to you or for which you are legally responsible resulting from acts of fraud or dishonesty of an identified employee and discovered by you within 12 months after:-|
Home & Office Contents
|Covers risks such as fire, storm, water damage, intruders etc. for your contents. Includes gardening equipment and up to $15,000 of office equipment. Can be extended to include accidental damage.|
|Covers costs and expenses associated with official investigations and enquiries, fine and penalties for example, Work, Health & Safety investigations, subject to the terms and conditions of the policy.|
|Indemnifies you up to the sum insured in respect of your liability to pay the fees of an accountant in connection with a Statutory tax audit of your business subject to policy terms and conditions.|
What are Management Rights?
The Australian Resident Accommodation Managers Association (ARAMA) defines Management Rights as:
"Management Rights is a business that gives the right to the resident owner of a lot, contained within a community living complex, to fulfil the role of Caretaker and to operate a letting business (of units within the complex) on behalf of non-resident owners. The person who owns the Management Rights is usually referred to as the Resident Manager".
Thousands of people choose to become resident managers for numerous reasons. Whether it is a combination of investment return, a combined home and business environment or the lifestyle aspect, it has proven to be a very attractive business proposition.
Having management rights to a property development means you:
- Live at the complex
- Take care of common property on behalf of the Body Corporate (for example, pool andBBQ area, lawns and gardens)
- Let units in the complex on a rental basis. Please note that to be able to operate as a Letting Agent, you will acquire a special licence. (For more information, see the section on “Licensing & Training”)
- Depending on the complex, the type of letting will predominately be either:
- Permanent (Long Term) Letting or
- Holiday (Short Term) Letting
The Australian Resident Accommodation Managers Association (ARAMA) is a membership based, not for profit, peak industry body which represents the interests of people who are involved in Management Rights. ARAMA members operate management rights or are associated with the management rights industry.
As a Gold Sponsor of this peak industry body EBM are kept abreast of the latest changes in requirements for the Management Rights industry. ARAMA members are also offered a discount off their annual insurance premiums.
Gold Coast Office
Level 8, 64 Marine Parade