To Bundle or not to Bundle? That is the question
Bundling in our industry loosely refers to the practise of charging a fixed percentage that includes all or most of your charges to your owners. In the past, managers would traditionally break down their Property Management fees and charges into a mixture of percentage based fees (like management commission) and fixed price fees (like cleans, linens, and letting fees) on their owner agreements.
Particularly in QLD, when the new PO and AFA Acts coming into force in 2014, a greater amount of flexibility was opened up to managers and owners alike in the way that fees and charges are levied in accordance with the owner's agreement. But how do you know which method is right for your business? Should you bundle your fees and services into one or several commission amounts, or should they be separated by way of a mixture of commissions and dollar amounts?
Not getting the answers to these questions right could have significant ramifications for the ongoing profitability for your business, and of course the ability for a positive outcome when it comes time to sell. Regardless of which state you operate in, and whether you operate a Management Rights or a Property Management office, we're sure you'll agree that to Bundle or not to Bundle is a critical decision for your business.
As part of our ongoing commitment to our members, we're pleased to announce the next in our seminar series – "The case FOR and AGAINST bundling."
This seminar will be presented in two parts by two giants of our industry - Tony Rossiter from Holmans Accountants (The Case FOR) and Damien Moffrey from Savvi Accounting (The Case AGAINST). Both of our presenters are strong believers in their point of view and will present some compelling arguments to support their cause.
Don't miss your chance to hear some extremely timely and relevant information from two highly qualified and respected accountants.
About our Presenters
The Case AGAINST Bundling– Damien Moffrey
With many years hands on experience in audit, taxation and profit verification, Damien has been involved in the industry since 1989. The adage "not your typical accountant" describes him well as his traditional accounting skills are well rounded by his real business experience in the property industry. Damien’s firm represents many clients with Trust Accounts and provides services ranging from profit verification, trust account audit, taxation, planning and succession, superannuation, corporate structures and general accounting services.
The Case FOR Bundling – Tony Rossiter B.Com, CA
Throughout his 20+ year career as a Chartered Accountant, Tony has specialised in providing Accounting and Taxation services to the Accommodation Industry. Tony is particularly passionate about advising new entrants to the Accommodation Industry, providing business structuring, due diligence and related advice to assist clients in the acquisition and operation of their Accommodation business. Tony’s knowledge and expertise in the Accommodation Sector is highly regarded by financial institutions, legal advisors, sales brokers, valuers and associated industry specialists.
Holmans Accommodation Team currently provides professional services to in excess of 300 Hotels, Motels and Management Rights properties throughout Australia.
REI Master Training Room 1, 3/142 Siganto Dr Helensvale QLD 4210
The Case AGAINST Bundling – Monday 26th March, 9:45AM for a 10:00AM sharp start to approximately 11:30 AM
The Case FOR Bundling – Tuesday 27th March, 9:45AM for a 10:00AM sharp start to approximately 11:30 AM
This series is being offered FREE of charge.
NB – A strict limit of one person per business applies.
To book CLICK Here and let us know which session you would like to attend.